According to the April 2018 Houston Association of Realtors (HAR) report, April showed the first sign of the real estate market cooling since Hurricane Harvey as single-family home sales volume fell 2.5% when compared to April of 2017.  At the same time, the median home price raised 2.4% to $233,500 marking the highest number for a March yet.

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

  • $1 – $99,999: decreased 19.7 percent
  • $100,000 – $149,999: decreased 17.1 percent
  • $150,000 – $249,999: decreased 1.1 percent
  • $250,000 – $499,999: increased 1.0 percent
  • $500,000 – $749,999: increased 7.0 percent
  • $750,000 and above: unchanged

Volume of luxury homes (above $750,000), remained flat, continuing a trend over the last few months.
Houston Real Estate Volume Down But Prices Up – April 2018 HAR Report 1

Months of inventory rose .2 from February to 3.4, which was the highest level of the year yet, but still below the rate of 3.6 a year ago.

Here are some interesting quotes and statistics from the report:

“Single-family home sales fell 2.5 percent year-over-year, with 6,810 units sold”

“Days on Market (DOM) for single-family homes increased slightly from 61 days in March 2017 to 63 days this March”

“The single-family home median price rose 2.4 percent to $233,500, which represents a March high”

“Single-family homes months of inventory shrank year-over-year from a 3.6-months supply to 3.4 months, the highest level of this year and the same as the national inventory level”

 

 

 

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