2019 is on track to be a record year in the Houston Real Estate market according to the October 2019 Houston Association of Realtors (HAR) report. The report showed sales volume up 4.2% year to date over 2018’s record pace. Higher end homes have been leading the way with homes between $500,000 and $749,999 increasing in volume 13% year over year in October.
October was the fourth consecutive month of positive single-family home sales growth, outpacing last October by 8.1%. The news points to a continued pattern of steady growth for Houston real estate.
May sales volume, broken out by housing segment:
- $1 – $99,999: decreased 15.5 percent
- $100,000 – $149,999: decreased 11.4 percent
- $150,000 – $249,999: increased 10.3 percent
- $250,000 – $499,999: increased 12.9 percent
- $500,000 – $749,999: increased 13.0 percent
- $750,000 and above: unchanged
Months of inventory increased to a 4.0 month supply, up from 3.9 last October.
Here are some interesting quotes and statistics from the HAR report:
“Days on Market (DOM) for single-family homes edged up from 58 to 59 days;”
“Total property sales increased 6.2 percent, with 8,579 units sold;”
“Total dollar volume jumped 7.9 percent to $2.4 billion;”
“The single-family home median price rose 2.1 percent to $239,900, achieving an October high;”
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