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.
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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