Houston Real Estate Highlights in January
Single-family home sales fell 8.1 percent year-over-year, with 4,100 units sold, marking the third consecutive month of declining sales;
Days on Market (DOM) for single-family homes lowered from 68 to 65 days;
Total property sales tumbled 8.4 percent, with 5,011 units sold;
Total dollar volume declined 4.4 percent to slightly more than $1.3 billion;
The single-family home median price edged up 1.4 percent to $222,000, reaching a January high;
The single-family home average price increased 2.4 percent to a January high of $277,483;
Single-family homes months of inventory was at a 3.7-months supply, up from 3.2 months last January and equal to the national inventory level;
Townhome/condominium sales fell for a fifth straight month – down 10.5 percent, with the average price down 2.3 percent to $188,268 and the median price down 2.8 percent to $154,250;
Lease properties saw their strongest performance since November 2017, as single-family home rentals climbed 16.5 percent with the average rent up 0.4 percent to $1,755;
Volume of townhome/condominium leases surged 16.4 percent with the average rent down 0.8 percent to $1,504.