Houston Housing market data

This first set does not factor out the “Harvey effect”:

  • $1 - $99,999: increased 33.5 percent

  • $100,000 - $149,999: increased 8.0 percent

  • $150,000 - $249,999: increased 46.0 percent

  • $250,000 - $499,999: increased 46.0 percent

  • $500,000 - $749,999: increased 53.9 percent

  • $750,000 and above: increased 34.6 percent

This data set reflects the pre-Harvey (August 1 - 24) comparison:

  • $1 - $99,999: decreased 2.4 percent

  • $100,000 - $149,999: decreased 12.4 percent

  • $150,000 - $249,999: increased 7.3 percent

  • $250,000 - $499,999: increased 13.7 percent

  • $500,000 - $749,999: increased 16.7 percent

  • $750,000 and above: increased 15.4 percent

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 7,116 in August, an increase of 36.3 percent versus the same month last year when not removing the distortions caused by Hurricane Harvey. The average sales price increased 3.7 percent to $291,723 while the median sales price rose 2.7 percent to $225,000.

Houston single family for sale

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.

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

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.