According to the June 2018 Houston Association of Realtors (HAR) report, 8,518 single-family homes were sold in June, which eclipsed the all time high of 8,367 set one year ago. The activity also pushed the single-family median home price up 2.6% to a new high of $245,000.
The luxury segment of the market (homes over $750,000) had the largest growth in home sales, which increased 18.4% over the previous year.
Broken out by housing segment, June sales performed as follows:
- $1 – $99,999: decreased 29.0 percent
- $100,000 – $149,999: decreased 23.7 percent
- $150,000 – $249,999: increased 16.1 percent
- $250,000 – $499,999: increased 18.0 percent
- $500,000 – $749,999: increased 13.5 percent
- $750,000 and above: increased 18.4 percent
Months of inventory increased to a 4.1-months supply, which was the highest since August of last year.
Here are some interesting quotes and statistics from the report:
“Days on Market (DOM) for single-family homes declined from 50 to 48 days.”
“Total property sales reached record levels, rising 1.7 percent, with 10,115 units sold – the first time that number has broken the 10-thousand mark.”
“Total dollar volume increased 6.6 percent to slightly more than $3 billion.”
“The single-family home average price increased 4.3 percent to a record high of $316,463.”
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