Houston Housing Stats May, 2024

[Sharon Tzib]

https://www.har.com/content/department/newsroom?pid=2088

Houston Real Estate Highlights in May, 2024: Property sales are down but home prices continue to go up!

• -Single-family home sales declined 1.5 percent year-over-year;
• -Days on Market (DOM) for single-family homes went from 49 to 45 days;
• -Total property sales were down 3.1 percent with 10,175 units sold;
• -Total dollar volume was statistically flat at $4.3 billion;
• -The single-family median price edged up 1.5 percent to $345,000;
• -The single-family average price rose 3.6 percent to $443,970, which is a record high;
• -Single-family home months of inventory registered a 4.0-months supply, up from 2.7 months last May;
• -Townhome/condominium sales continued to decline, falling 9.8 percent, with the median price climbing 12.1 percent to $241,600 and the average price up 7.5 percent to $281,777.