The May 2018 Houston Association of Realtors (HAR) report was released last week, indicating all-time highs in both single-family median and average home prices.  This result continues the pattern of a steady, consistent market over the last several years, which seems to be deterred by little including hurricanes.

Broken out by housing segment, May sales performed as follows:

  • $1 – $99,999: decreased 13.8 percent
  • $100,000 – $149,999: decreased 21.8 percent
  • $150,000 – $249,999: unchanged
  • $250,000 – $499,999: increased 6.9 percent
  • $500,000 – $749,999: increased 10.3 percent
  • $750,000 and above: unchanged

The best performing segment of the market was houses between $500,000 and $749,999, the volume of which increased 10.3% over May of 2017.  The luxury market (houses over $750,000) remained unchanged.
Houston Real Estate Prices Achieve All-Time High – May 2018 HAR Report 1

Months of inventory stayed flat at a 4.0-months supply, which was the highest level of the year, and equal to the national average.

Here are some interesting quotes and statistics from the report:

“The single-family home median price rose 3.4 percent to $243,000, which represents an all-time high.”

“The single-family home average price increased 1.3 percent to a record high of $305,511.”

“Days on Market (DOM) for single-family homes increased slightly from 51 to 52 days.”

“Single-family homes months of inventory was flat at a 4.0-months supply, the highest level since last August and equal to the national inventory level.”

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