According to the August 2018 Houston Association of Realtors (HAR) report, the average single-family home price reached $300,670 in August, up 1.9% from last year and reaching a new August record.  Sales activity was sharply up from last year, mainly because hurricane Harvey shut down real estate activity in Houston at the end of last August.

The luxury segment of the market (homes over $750,000) showed strong activity, increasing 15.4% over last August (pre-Harvey).

This first set does not factor out the “Harvey effect”:

  • $1 – $99,999: increased 33.5 percent
  • $100,000 – $149,999: increased 8.0 percent
  • $150,000 – $249,999: increased 46.0 percent
  • $250,000 – $499,999: increased 46.0 percent
  • $500,000 – $749,999: increased 53.9 percent
  • $750,000 and above: increased 34.6 percent

This data set reflects the pre-Harvey (August 1 – 24) comparison:

  • $1 – $99,999: decreased 2.4 percent
  • $100,000 – $149,999: decreased 12.4 percent
  • $150,000 – $249,999: increased 7.3 percent
  • $250,000 – $499,999: increased 13.7 percent
  • $500,000 – $749,999: increased 16.7 percent
  • $750,000 and above: increased 15.4 percent

Average Home Prices Set August Record – August 2018 HAR Report 1

Months of inventory increased to a 4.1-months supply, down from 4.3 last august.

Here are some interesting quotes and statistics from the report:

“Days on Market (DOM) for single-family homes declined slightly to 49 days.”

“The single-family home median price rose 3.0 percent to $236,870, reaching an August high.”

“The single-family home average price also achieved an August record, rising 1.9 percent to $300,670.”

“Single-family homes months of inventory was at a 4.1-months supply, down from 4.3 months last August and equal to the national level.”

 

 

Want to get a feel for the type of home that’s right for you in terms of size, rooms, amenities, and build time?

Most of the custom homes we build fall into four categories. Find out which category is a match for you based on your answers to a few simple questions. It takes less than a minute! Click here to get started.

If you would like more detail on a particular building step, or have any questions, please email bryan@refinedcustombuilders.com or call/text Bryan at 713.851.4698.

0/5 (0 Reviews)