After a sluggish January, the Houston real estate market showed gains in the month of February. According to the March 2019 Houston Association of Realtors (HAR) report, housing segments with homes priced between $150,000 and $750,000 all showed increases in sales volume compared to decreases in January. The average single-family home price in Houston reached $286,156 in February, up 1.9% from the year before.
February sales volume, broken out by housing segment:
- $1 – $99,999: decreased 21.8 percent
- $100,000 – $149,999: decreased 16.0 percent
- $150,000 – $249,999: increased 3.7 percent
- $250,000 – $499,999: increased 5.5 percent
- $500,000 – $749,999: increased 7.5 percent
- $750,000 and above: decreased 8.9 percent
Months of inventory increased to a 3.7-months supply, up from 3.1 last February. Here are some interesting quotes and statistics from the report:
“Single-family home sales were statistically flat year-over-year, with 5,280 units sold, ending three consecutive months of declining sales” “Days on Market (DOM) for single-family homes increased slightly from 66 to 68 days;” “The single-family home median price climbed 2.9 percent to $232,900, reaching a February high” “Total dollar volume rose 3.1 percent to $1.76 billion”
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