Houston Housing Stats November 2016

[Sharon Tzib]

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

Houston Real Estate Highlights in November:

• Single-family home sales soared 22.7 percent with 5,706 units sold—representing the greatest year-over-year sales volume increase for a single month since July 2013;
• On a year-to-date basis, single-family home sales were up 2.7 percent;
• Total property sales jumped 21.4 percent to 6,890 units;
• Total dollar volume increased 28.7 percent to $1.8 billion;
• At $222,000, the single-family home median price rose 8.3 percent to a November high;
• The single-family home average price increased 7.2 percent to $281,671, which was also the highest level for a November;
• Single-family homes months of inventory climbed to a 3.6-months supply;
• Townhome/condominium sales increased 14.6 percent, with the average price up 12.6 percent to $208,388 and the median price up 22.0 percent to $163,000;
• Leases of single-family homes rose 3.2 percent with average rent up slightly to $1,724;
• Leases of townhomes/condominiums fell 2.4 percent with average rent down 2.6 percent to $1,498.