Houston Housing Stats February, 2022

[Sharon Tzib]

https://www.har.com/content/newsroom/

Houston Real Estate Highlights in February:

• -Single-family home sales rose 22.9 percent year-over-year, a figure likely skewed as a result of the freeze last year that interrupted real estate transactions for days on end. When compared to the last “normal” February, in 2020, sales volume increased 23.3 percent;
• -Days on Market (DOM) for single-family homes dropped from 48 to 41;
• -Total property sales rose 25.6 percent with 9,299 units sold;
• -Total dollar volume increased 43.5 percent to $3.5 billion;
• -The single-family average price rose 13.4 percent to $395,871, the highest of all time;
• -The single-family median price increased 19.3 percent to $328,000 – also a record;
• -Single-family home months of inventory registered a 1.3-months supply, down from 1.5 months year-over-year and below the national inventory of 1.6 months;
• -Townhome/condominium sales jumped 35.9 percent with the average price up 22.4 percent to $266,366 and the median price up 26.8 percent to $225,00 – both record highs;
• -Single-family home rentals rose 23.8 percent with the average rent up 6.5 percent to $2,052;
• -Townhome/condominium leases decreased 1.0 percent with the average rent up 7.9 percent to $1,767.