Houston housing

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

  • $1 - $99,999: decreased 9.0 percent

  • $100,000 - $149,999: decreased 5.3 percent

  • $150,000 - $249,999: increased 3.9 percent

  • $250,000 - $499,999: increased 11.6 percent

  • $500,000 - $749,999: increased 8.3 percent

  • $750,000 and above: increased 12.0 percent

HAR also breaks out sales data for existing single-family homes. Existing home sales totaled 5,579 in October, an increase of 6.4 percent versus the same month last year. The average sales price rose 4.9 percent to $282,937 while the median sales price increased 4.8 percent to $220,000.

Houston single family homes

Single-Family Homes Update

Sales of single-family homes declined 2.0 percent in November, as 6,159 units sold across the greater Houston area compared to 6,285 a year earlier. However, on a year-to-date basis, sales volume is running 4.6 percent ahead of 2017’s record pace and is expected to remain in record territory as we close out 2018. Prices reached the highest levels ever for a November. The median price increased 4.4 percent to $235,000 while the average price rose 4.3 percent to $295,084. Days on Market (DOM), or the number of days it took the average home to sell, improved to 60 from 62 a year earlier. Inventory registered a 3.9-months supply, up slightly from 3.6 months a year ago.

Houston housing market

October Monthly Market Comparison

The Houston real estate market registered across-the-board gains in October, with single-family home sales, total property sales, total dollar volume and pricing all up compared to October 2017. Month-end pending sales for single-family homes totaled 7,039, which represents a 5.4 percent increase over last year. Total active listings, or the total number of available properties, climbed 7.3 percent to 41,061. Single-family homes inventory remains tight, reaching a 3.9-months supply in October versus a 3.7-months supply a year earlier. For perspective, housing inventory nationally stands at a 4.4-months supply, according to the latest report from the National Association of REALTORS® (NAR).

Lease properties in Houston

Lease Property Update

Activity among lease properties was mixed in October. Single-family home rentals rose 7.3 percent while leases of townhomes and condominiums fell 6.8 percent.

The average rent for single-family homes declined 1.1 percent to $1,754 while the average rent for townhomes and condominiums edged up 1.2 percent to $1,550.

Sales property report in Houston Texas

Sales of all property types totaled 8,127, up 6.0-percent over the same month last year. October’s total dollar volume increased 9.3 percent to $2.3 billion.

“With August and September home sales figures skewed by the effects of Hurricane Harvey, October seemed to mark a return to normalcy in terms of overall market activity,” said HAR Chair Kenya Burrell-VanWormer with JPMorgan Chase. “However, we are prepared for slower sales as we wrap up 2018, between the tight supply of homes and the fact that we typically see less activity around the holidays.”

Single family house in Houston

The single-family home median price (the figure at which half of the homes sold for more and half for less) rose 3.6 percent to $234,653, and the average price increased 3.5 percent to $294,500. Both represent the highest prices ever for an October. All housing segments experienced gains except for homes priced at $150,000 and below The strongest segment was the luxury market (homes priced at $750,000 and above), which jumped 12.0 percent in October.

House for sale in Houston real estate

After a down month in September, directly influenced by the surge in post-Hurricane Harvey home sales exactly one year earlier, the Houston real estate market returned to more normalized conditions in October with gains in both sales volume and pricing.

According to the latest monthly report from the Houston Association of REALTORS® (HAR), 6,716 single-family homes sold in October compared to 6,417 a year earlier. That translates to a 4.7-percent increase. Year-to-date, home sales are 5.3 percent ahead of 2017’s record volume. Inventory grew slightly from a 3.7-months supply to 3.9 months.

Houston real estate

Houston Real Estate Highlights in September

  • Single-family home sales fell 5.8 percent year-over-year, with 6,548 units sold;

  • Days on Market (DOM) for single-family homes was 52 days;

  • Total property sales declined 4.4 percent, with 7,842 units sold;

  • Total dollar volume was down 3.5 percent to $2.2 billion;

  • The single-family home median price edged up 0.2 percent to $232,500, a September high;

  • The single-family home average price also achieved a September record, rising 1.7 percent to $295,765;

  • Single-family homes months of inventory was at a 4.0-months supply, up fractionally from 3.9 months last September and slightly below the national supply of 4.3 months reported by NAR;

  • Townhome/condominium sales fell 6.1 percent, with the average price down 6.6 percent to $191,967 and the median price unchanged at $159,450;

  • Leases of single-family homes dropped 35.4 percent with the average rent down 4.0 percent to $1,812;

  • Volume of townhome/condominium leases plunged 44.5 percent with the average rent down 1.0 percent to $1,584.

House for sale in Houston days market

The Days on Market (DOM) figure, or the number of days it took the average home to sell, was 52 compared to 54 a year earlier. Inventory registered a 4.0-months supply, up ever so slightly from 3.9 months a year ago.

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

  • $1 - $99,999: decreased 12.4 percent

  • $100,000 - $149,999: decreased 15.4 percent

  • $150,000 - $249,999: decreased 2.0 percent

  • $250,000 - $499,999: decreased 6.2 percent

  • $500,000 - $749,999: decreased 3.2 percent

  • $750,000 and above: increased 2.7 percent

HAR also breaks out sales data for existing single-family homes. Existing home sales totaled 5,485 in September, a decline of 4.6 percent versus the same month last year. The average sales price fell 0.5 percent to $279,043 while the median sales price rose 0.5 percent to $219,900.