HOUSTON —HAR report (February 12, 2020) — Fresh on the heels of a record-breaking 2019, home sales across greater Houston began the new year with a strong showing as consumers continued to take advantage of historically low interest rates. Homes priced between $500,000 and $750,000 drew the most buyers in January followed by homes in the $250,000 to $500,000 range. Activity among properties for lease also registered solid gains during the month.
According to the latest monthly Market Update from the Houston Association of REALTORS® (HAR), 4,699 single-family homes sold in January compared to 4,112 a year earlier. That represents a 14.3 percent increase – the seventh consecutive positive month and the greatest January sales volume hike in seven years. The single-family home median price (the figure at which half of the homes sold for more and half sold for less) rose 4.5 percent to $234,000 and the average price climbed 4.6 percent to $291,034. Both figures represent the highest prices ever for a January.
Sales of all property types totaled 5,800, up 15.2 percent from January 2019. Total dollar volume for the month surged 17.1 percent to about $1.6 billion.