The June 2017 Houston Association of Realtors (HAR) report showed the eighth straight month of gains in the Houston luxury real estate market (homes over $750,000). June saw a 13% gain in the number of homes sold in this segment of the market when compared to June of 2016.
Broken out by housing segment, February sales performed as follows:
- $1 – $99,999: decreased 12.1 percent
- $100,000 – $149,999: decreased 10.7 percent
- $150,000 – $249,999: increased 12.2 percent
- $250,000 – $499,999: increased 11.5 percent
- $500,000 – $749,999: increased 6.9 percent
- $750,000 and above: increased 13.0 percent
The single-family median home price climbed 2.6% year over year to $239,023, while the average single-family home price rose 1.5% to $304,155. This strong, steady growth has been the hallmark of Houston real estate for the last few years.
Months of inventory rose to 4.4 from 3.9 a year ago, continuing the move toward a buyers market, (which we consider to be more than 6 months of inventory). This is the highest level of inventory since October 2012.
“Single-family home sales rose 8.3 percent year-over-year with 8,414 units sold – the largest one-month sales volume of all time.”
“Single-family homes months of inventory grew to a 4.4-months supply, the highest level since October 2012.”
“Total dollar volume jumped 10.4 percent to $2.9 billion.”
|CATEGORIES||JUNE 2016||JUNE 2017||CHANGE|
|Total property sales||9,225||9.993||8.3%|
|Total dollar volume||$2,615,214,802||$2,887,390,370||10.4%|
|Total active listings||37,230||43,326||16.4%|
|Single-family home sales||7,771||8,414||8.3%|
|Single-family average sales price||$299,761||$304,155||1.5%|
|Single-family median sales price||$233,000||$239,023||2.6%|
|Single-family months inventory*||3.9||4.4||0.5 mos.|
|Single-family pending sales||7,034||8,363||18.9%|
* 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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