Houston for sale/rent single family homes

According to the latest monthly report from the Houston Association of Realtors® (HAR), sales of single-family homes increased 4.9 percent in March, with 7,072 homes sold versus 6,740 in March of 2018. Home sales edged up slightly in February following three consecutive months of declines.

Prices of single-family homes reached record highs for a March. The median price (the figure at which half of the homes sold for more and half sold for less) rose 2.1 percent to $240,000 and the average price was up 2.0 percent at $298,766.

March sales of all property types totaled 8,475, up 3.6 compared to the same month last year. Total dollar volume for the month jumped 5.7 percent to $2.4 billion.

Houston Housing market

HOUSTON — (April 10, 2019) — Lower interest rates pushed fence-sitters into buying mode as single-family home sales rose nearly five percent in March compared to a year earlier. The strongest sales activity was recorded among homes priced between $250,000 and $500,000, followed closely by the luxury segment ($750,000 and above). Once again, renters placed strong demand on single-family and townhome/condo leases across greater Houston. Housing inventory expanded to its highest level in five months, laying fertile ground for consumers as we move further into the spring buying season.

Houston housing market

Houston Real Estate Highlights in February

• Single-family home sales were statistically flat year-over-year, with 5,280 units sold, ending three consecutive months of declining sales;

• Days on Market (DOM) for single-family homes increased slightly from 66 to 68 days;

• Total property sales were also statistically flat, with 6,388 units sold;

• Total dollar volume rose 3.1 percent to $1.76 billion;

• The single-family home median price climbed 2.9 percent to $232,900, reaching a February high;

• The single-family home average price increased 1.9 percent to a February high of $286,156;

• Single-family homes months of inventory was at a 3.7-months supply, up from 3.1 months last February, but slightly below the national inventory level of 3.9 months;

• Townhome/condominium sales fell for a sixth straight month – down 7.6 percent, with the average price down 11.9 percent to $186,859 and the median price down 11.8 percent to $150,000;

• Lease properties staged a strong performance, as single-family home rentals leapt 26.5 percent with the average rent up 0.8 percent to $1,733;

• Volume of townhome/condominium leases surged 27.1 percent with the average rent up 1.9 percent to $1,548.

Houston Townhouse/Condominium for sale,rent

Townhouse/Condominium Update
Townhome and condominium sales tumbled for a sixth straight month, dropping 7.6 percent versus February 2018, with 425 units sold compared to 460 a year earlier. The average price fell 11.9 percent to $186,859 while the median price dropped 11.8 percent to $150,000. Inventory grew from a 3.5-months supply to 4.2 months.

Houston Housing Segment

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

• $1 - $99,999: decreased 21.8 percent

• $100,000 - $149,999: decreased 16.0 percent

• $150,000 - $249,999: increased 3.7 percent

• $250,000 - $499,999: increased 5.5 percent

• $500,000 - $749,999: increased 7.5 percent

• $750,000 and above: decreased 8.9 percent

HAR also breaks out the sales figures for existing single-family homes. Existing home sales totaled 4,265 in February, down 1.1 percent versus the same month last year. The average sales price increased 2.7 percent to $273,757 while the median sales price rose 1.8 percent to $217,500.

Houston houses days in the market

Days on Market (DOM), or the number of days it took the average home to sell, lengthened slightly from 66 to 68 days. Inventory registered a 3.7-months supply. That is up from 3.1 months a year earlier and is slightly below the current national inventory level of 3.9 months reported by NAR.

Houston single family homes

Single-Family Homes Update
Single-family home sales were statistically unchanged in February, with 5,280 units sold across the greater Houston area compared to 5,265 a year earlier. Prices reached the highest levels ever for a February. The median price increased 2.9 percent to $232,900. The average price rose 1.9 percent to $286,156.

Houston housing market Comparison

Single-family homes inventory reached a 3.7-months supply in February, up from a 3.1-months supply a year earlier. For perspective, housing inventory across the U.S. stands at a 3.9-months supply, according to the latest report from the National Association of Realtors (NAR).

Houston housing market Comparison

February Monthly Market Comparison
February’s statistical readings for the Houston real estate market were in the black in all categories. Single-family home prices and total dollar volume rose while single-family home sales and total property sales were flat compared to February 2018. Month-end pending sales totaled 7,310, a 15.4 percent increase over last year. Total active listings, or the total number of available properties, jumped 17.4 percent to 39,304.

Lease/Rent property in Houston

Lease Property Update
Consumers kept the rental market buzzing in February. Single-family home rentals soared 26.5 percent while rentals of townhomes and condominiums shot up 27.1 percent. The average rent for single-family homes edged up 0.8 percent to $1,733 and the average rent for townhomes and condominiums rose 1.9 percent to $1,548.