Houston Real Estate Highlights in November(HAR Report):
Single-family home sales rebounded from a slight decline in October, rising 3.9 percent with 8,320 units sold versus 8,010 in October 2020;
Days on Market (DOM) for single-family homes dropped from 46 to 35;
Total property sales rose 5.6 percent with 10,216 units sold;
Total dollar volume increased 20.6 percent to $3.7 billion;
The single-family average price rose 12.6 percent to $383,807;
The single-family median price increased 16.3 percent to $314,000 – an all-time high first reached in June of 2021;
Single-family home months of inventory registered a 1.6-months supply, down from 2.1 months year-over-year and below the national inventory of 2.4 months;
On a year-to-date basis, single-family homes sales are 12.0 percent ahead of 2020’s record pace and 22.2 percent ahead of 2019.
Townhome/condominium sales rose 16.8 percent with the average price up 16.0 percent to $258,970 and the median price up 10.5 percent to $210,000;
Single-family home rentals rose 7.1 percent with the average rent up 8.5 percent to $2,042;
Townhome/condominium leases increased 5.1 percent with the average rent up 3.8 percent to $1,737.