HOUSTON — (HAR Report) — By the numbers, Houston-area home sales were down this July compared to last. However, that is because COVID-related home closing delays during Q2 2020 finally pushed through that July as most of the pandemic lockdowns were lifted. The resulting surge of pent-up sales cemented July 2020 in the real estate history books as a record-setting month that could not be rivaled by the rapid-fire pace of the current market.
According to the Houston Association of Realtors (HAR) July 2021 Market Update, single-family homes sales were down 6.1 percent compared to last July, with 10,159 units sold versus the historic 10,822 that sold a year earlier. However, when compared to July 2019 — an average month of home sales with volume totaling 8,921 — the Houston housing market was up 13.9 percent. On a year-to-date basis, local home sales currently exceed 2020’s record pace by 19.1 percent.
Once again, homes priced from $750,000 and above led the way in sales volume with a 36.7 percent year-over-year increase. That was followed by the $500,000 to $750,000 segment, which rose 18.9 percent. The single-family home average price increased 15.3 percent to $389,197 and the median price climbed 13.9 percent to $309,910. That marks the second highest pricing of all time behind last month’s record-setting figures.