Houston housing market

July Monthly Market Comparison

Measurements of the Houston real estate market’s July trends were largely positive, with single-family home sales, total property sales, pricing and total dollar volume all up compared to July 2017. Month-end pending sales for single-family homes totaled 8,467, an 18.2 percent increase over last year. Total active listings, or the total number of available properties, fell 3.5 percent to 41,459. 

Single-family homes inventory remains constrained, reaching a 4.2-months supply in July, which is down fractionally from the 4.3-months supply a year earlier. For perspective, housing inventory across the U.S. stands at a 4.3-months supply, according to the latest report from the National Association of REALTORS® (NAR).

Houston for lease property

Lease Property Update

Consumer interest among lease properties slowed in July. Single-family home rentals declined 1.9 percent while leases of townhomes and condominiums were down 6.6 percent. The average rent for single-family homes rose 5.6 percent to $1,916 and the average rent for townhomes and condominiums increased 7.7 percent to $1,666.

Houston real estate in July 2018

Houston Real Estate Highlights in July

  • Single-family home sales rose 9.1 percent year-over-year, with 8,108 units sold;

  • Days on Market (DOM) for single-family homes remained unchanged at 48 days;

  • Total property sales increased 8.5 percent, with 9,559 units sold;

  • Total dollar volume jumped 11.4 percent to nearly $2.8 billion;

  • The single-family home median price rose 5.9 percent to $243,500, reaching a July high;

  • The single-family home average price also achieved a July record, rising 2.4 percent to $305,910;

  • Single-family homes months of inventory was at a 4.2-months supply, down fractionally from 4.3 months last July, but nonetheless at the highest level since August 2017;

  • Townhome/condominium sales rose 6.1 percent, with the average price up 6.9 percent to $215,110 and the median price up 9.3 percent to $165,000;

  • Leases of single-family homes fell 1.9 percent with the average rent up 5.6 percent to $1,916;

  • Volume of townhome/condominium leases dropped 6.6 percent with the average rent up 7.7 percent to $1,666.

Single housing break out Houston

Days on Market (DOM), or the number of days it took the average home to sell, held steady at 48 days. Inventory registered a 4.2-months supply, down slightly from 4.3 months a year ago, but still at the highest level since August 2017.

Broken out by housing segment, July sales performed as follows:

  • $1 - $99,999: decreased 12.2 percent
  • $100,000 - $149,999: decreased 22.2 percent
  • $150,000 - $249,999: increased 9.5 percent
  • $250,000 - $499,999: increased 21.0 percent
  • $500,000 - $749,999: increased 15.1 percent
  • $750,000 and above: increased 6.3 percent

 

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 6,902 in July, an increase of 9.0 percent versus the same month last year. The average sales price increased 3.7 percent to $297,606 while the median sales price jumped 6.0 percent to $233,000.

Single home family Houston

Single-Family Homes Update

Sales of single-family homes jumped 9.1 percent in July, with 8,108 units sold across the greater Houston area compared to 7,433 a year earlier. On a year-to-date basis, home sales are 3.4 percent ahead of 2017’s record pace. Prices reached the highest levels ever for a July. The median price increased 5.9 percent to $243,500. The average price rose 2.4 percent to $305,910.

Houston single family home

Single-Family Homes Update

Sales of single-family homes jumped 9.1 percent in July, with 8,108 units sold across the greater Houston area compared to 7,433 a year earlier. On a year-to-date basis, home sales are 3.4 percent ahead of 2017’s record pace. Prices reached the highest levels ever for a July. The median price increased 5.9 percent to $243,500. The average price rose 2.4 percent to $305,910.

Houston housing rental/buying/ selling market

July Monthly Market Comparison

Measurements of the Houston real estate market’s July trends were largely positive, with single-family home sales, total property sales, pricing and total dollar volume all up compared to July 2017. Month-end pending sales for single-family homes totaled 8,467, an 18.2 percent increase over last year. Total active listings, or the total number of available properties, fell 3.5 percent to 41,459. 

For lease/rent Houston report

Lease Property Update

Consumer interest among lease properties slowed in July. Single-family home rentals declined 1.9 percent while leases of townhomes and condominiums were down 6.6 percent. The average rent for single-family homes rose 5.6 percent to $1,916 and the average rent for townhomes and condominiums increased 7.7 percent to $1,666.