Houston Real Estate Highlights in August(HAR Report)
Following a record-setting performance in July, single-family home sales held to positive territory again in August, rising 6.0 percent year-over-year with 9,195 units sold;
The Days on Market (DOM) figure for single-family homes lowered from 53 to 51 days;
Total property sales rose 7.3 percent with 11,121 units sold;
Total dollar volume jumped 13.4 percent to $3.5 billion;
The single-family home median price rose 7.6 percent to $269,000 – the second highest median price of all time;
The single-family home average price increased 7.8 percent to $334,256 – the second highest average price in history;
Single-family homes months of inventory registered a 2.8-months supply, down from 4.1 months last August and below the national inventory level of 3.1 months;
Townhome/condominium sales rose 1.3 percent, with the average price up 4.5 percent to $216,733 and the median price up 1.7 percent to $175,000;
Single-family home rentals dropped 13.3 percent with the average rent up 2.3 percent to $1,961;
Townhome/condominium leases fell 13.7 percent with the average rent up 1.0 percent to $1,654.