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.
Houston Real Estate Takes Another Step Forward in February – February 2018 HAR Report 1

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.

 

 

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)