Sales of homes between $500,000 and $749,999 increased 22% in volume over last July according to the July 2019 Houston Association of Realtors (HAR) report.  Sales volume of homes $750,000 and above increased 5.3% over last year.

The upward trend in the luxury market has been consistent over the last few years and shows resiliency in the upper end of the Houston real estate market.

May sales volume, broken out by housing segment:

  • $1 – $99,999: decreased 8.2 percent
  • $100,000 – $149,999: decreased 4.9 percent
  • $150,000 – $249,999: increased 7.7 percent
  • $250,000 – $499,999: increased 16.9 percent
  • $500,000 – $749,999: increased 22.0 percent
  • $750,000 and above: increased 5.3 percent

Months of inventory increased to a 4.3 month supply, up from 4.1 last July.

 

Here are some interesting quotes and statistics from the HAR report:

“On a year-to-date basis, single-family home sales are running 3.0 percent ahead of 2018’s record pace.”

“The single-family home median price rose 2.2 percent to $250,000, achieving a July high.”

“The single-family home average price was up 2.2 percent to $312,727 – also a record high for a July.”

“Total dollar volume increased 12.8 percent to $3.1 billion.”

 

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 chad.jardine@refinedcustombuilders.com or call/text Chad at 281.509.1592.