Houston Real Estate Highlights in February-HAR Report
Single-family home sales fell 23.0 percent year-over-year, as the market continues its recovery from economic headwinds;
Compared to pre-pandemic 2019, single-family home sales were up 7.2 percent;
All housing segments experienced negative sales;
Days on Market (DOM) for single-family homes rose from 42 to 63 days;
Total property sales fell 25.3 percent with 6,981 units sold;
Total dollar volume dropped 27.3 percent to $2.5 billion;
The single-family average price fell 2.4 percent to $385,103;
The single-family median price dropped 1.6 percent to $320,000;
Both pricing decreases were the first since the spring of 2020;
Single-family home months of inventory registered a 2.6-months supply, up from 1.2 months a year earlier;
Townhome/condominium sales experienced their ninth straight monthly decline, falling 32.4 percent, with the average price down 7.8 percent to $244,595 and the median price down 3.8 percent to $216,510;
Compared to pre-pandemic 2019, townhome and condominium sales were up 4.5 percent.