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.”
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