Houston housing market Highlights

Houston Real Estate Highlights in September-HAR Report

  • Single-family home sales increased 1.7 percent year-over-year;

  • Days on Market (DOM) for single-family homes went from 45 to 51 days;

  • Total property sales were down 3.3 percent with 8,228 units sold;

  • Total dollar volume was statistically flat at $3.3 billion;

  • The single-family median price was up 1.1 percent to $335,000;

  • The single-family average price edged up by 0.3 percent to $415,435; 

  • Single-family home months of inventory registered a 4.4-months supply, up from 3.4 months last September.

  • Townhome/condominium sales continued to decline, falling 23.0 percent, with the median price up 7.1 percent to $240,990, and the average price rose 10.9 percent to $290,048.

Single family home for sale/rent in Houston

HAR Report: Active listings climbed by 28.1 percent year-over-year, with 30,617 single-family homes available for sale in September. The average days on market increased from 45 to 51, reflecting a slower pace of sales.

 

Months of inventory of single-family homes expanded from a 3.4-months supply last September to 4.4 months, which is the highest since September 2012 when there was a 4.7-months supply. Housing inventory nationally stands at a 4.2-months supply, according to the latest report from the National Association of Realtors (NAR). A 4.0- to 6.0-months supply is generally considered a “balanced market” in which neither buyer nor seller has an advantage.

 

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

  • $1 - $99,999: increased 3.5 percent

  • $100,000 - $149,999: decreased 23.4 percent

  • $150,000 - $249,999: decreased 0.3 percent

  • $250,000 - $499,999: increased 4.2 percent

  • $500,000 - $999,999: decreased 3.6 percent

  • $1M and above: increased 2.0 percent

HAR also breaks out sales figures for existing single-family homes. In September, existing home sales totaled 4,873, which is down 0.7 percent compared to the same time last year. The average price rose 3.0 percent year-over-year to $429,787, and the median sales price increased 3.1 percent to $335,000.

Houston market Comparison

September Monthly Market Comparison-HAR Report

 

September marked the fifth consecutive month of year-over-year declines in total property sales. Sales were down 3.3 percent compared to the same time last year. Total dollar volume was statistically unchanged at $3.3 billion. The number of available properties were 25.0 percent above where they were last September.

Houston housing market

 

HAR Report: “Although sales have slowed, the Houston housing market is still in good shape,” said HAR Chair Thomas Mouton with Century 21 Exclusive Properties. “Expanding inventory and easing mortgage rates are offering buyers more opportunities. A potential Fed rate cut later this month could further boost consumer confidence and home sales.”

 

HAR will publish its August 2024 Rental Home Update on Wednesday, September 18.

Houston housing market

HOUSTON /HAR Report— (September 11, 2024) — As the summer temperatures climbed in August, Houston’s housing market experienced a cooldown. The slower sales volume enabled inventory to expand and prices to moderate, creating a positive landscape for home buyers.

 

According to the Houston Association of Realtors’ (HAR) August 2024 Market Update, single-family home sales across the Greater Houston area declined 8.3 percent year-over-year. The HAR Multiple Listing Service (MLS) recorded sales of 7,340 units compared to 8,006 last August. Inventory expanded from a 3.2-months supply to 4.5 months, which is the highest since September 2012.

 

The luxury segment ($1 million+), which represents 4.1 percent of all home sales in August, had the strongest performance, with a 2.0 percent increase in sales. All other housing segments experienced slower sales in August. Homes priced between $100,000 and $149,000 saw the biggest decline, with closings down 13.2 percent year-over-year. That segment made up just 2.2 percent of the overall market.

 

The average price of a single-family home edged up by 0.9 percent to $421,912 while the median price declined slightly, 0.3 percent, to $336,940.

Houston housing market Highlights

Houston Real Estate Highlights in June-HAR Report

  • Single-family home sales declined 11.6 percent year-over-year;

  • Days on Market (DOM) for single-family homes went from 45 to 46 days;

  • Total property sales were down 13.6 percent with 9,133 units sold;

  • Total dollar volume declined 12.2 percent to $3.8 billion;

  • The single-family median price was statistically flat at $345,500;

  • The single-family average price was statistically flat at $432,090; 

  • Single-family home months of inventory registered a 4.3-months supply, up from 3.0 months last June;

  • Townhome/condominium sales continued to decline, falling 19.9 percent, with the median price up 12.1 percent to $241,000 and the average price up 7.8 percent to $271,356.

Single family home for sale/rent in Houston

HAR Report: Active listings were 40.0 percent above where they were during the same time last year, with 30,053 available homes in June.

 

Days on Market, or the actual time it took to sell a home, was up from 45 to 46 days. Months of inventory increased to a 4.3-months supply compared to 3.0 months last June. That is ahead of the current national supply which stands at 3.7 months, as reported by NAR. 

 

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

  • $1 - $99,999: decreased 17.6 percent

  • $100,000 - $149,999: decreased 6.4 percent

  • $150,000 - $249,999: decreased 7.2 percent

  • $250,000 - $499,999: decreased 11.5 percent

  • $500,000 - $999,999: decreased 5.8 percent

  • $1M and above: decreased 19.4 percent

 

HAR also breaks out sales figures for existing single-family homes. In June, existing home sales totaled 5,507, which is down 15.1 percent compared to the same time last year. The average price climbed 3.1 percent to $447,142 and the median sales price increased 2.7 percent to $349,000.