HOUSTON, HAR Report — Homes across the greater Houston area continued selling at a record pace despite historically low inventory, the start of the holiday season and the lingering coronavirus pandemic. A low supply of homes for sale and strong demand from homebuyers combined to push the average price to record territory. Once again, the high end of the market generated the strongest increase in consumer activity with mid-range homes also selling briskly.
According to the latest Houston Association of Realtors (HAR) Market Update, 7,990 single-family homes sold in November compared to 6,359 a year earlier. That translates to a 25.6 percent increase and marks the sixth straight month of positive sales.
Homes priced at $750,000 and above rocketed 88.4 percent compared to November 2019. That was followed by the $500,000 to $750,000 housing segment, which jumped 72.2 percent year-over-year. Homes between $250,000 and $500,000, which comprise the market’s biggest share of sales, shot up 50.3 percent.