According to the February 2018 Houston Association of Realtors (HAR) report, February was the second straight month of positive growth in the Houston real estate market.
Broken out by housing segment, Febraury sales performed as follows:
- $1 – $99,999: decreased 2.8 percent
- $100,000 – $149,999: decreased 11.8 percent
- $150,000 – $249,999: increased 10.9 percent
- $250,000 – $499,999: increased 10.2 percent
- $500,000 – $749,999: increased 18.8 percent
- $750,000 and above: unchanged
Volume of luxury homes (above $750,000), remained flat, breaking a three month trend of declining sales volume.
The year-to-date single family median home price rose 1.4% over 2016, reaching a new all-time high for February of $226,200.
Months of inventory declined to 3.2%, from 3.4% a year ago, shrinking the pool of options for spring buyers.
Here are some interesting quotes and statistics from the report:
“Single-family home sales rose 5.3 percent year-over-year, with 5,260 units sold;”
“Days on Market (DOM) for single-family homes decreased slightly from 67 days in February 2017 to 65 days this February;”
“Total dollar volume climbed 4.5 percent to $1.7 billion;”
|CATEGORIES||FEBRUARY 2017||FEBRUARY 2018||CHANGE|
|Total property sales||6,181||6,375||3.1%|
|Total dollar volume||$1,639,814,909||$1,713,566,903||4.5%|
|Total active listings||34,707||33,939||-2.2%|
|Single-family home sales||4,997||5,260||5.3%|
|Single-family average sales price||$280,813||$281,945||0.4%|
|Single-family median sales price||$223,000||$226,200||1.4%|
|Single-family months inventory*||3.4||3.2||-0.2 months|
|Single-family pending sales||6,220||6,912||11.1%|
* Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.
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