Houston Housing Stats December 2016 and Year End

[Sharon Tzib]

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

Houston Real Estate Highlights for December and Full-Year 2016

• 2016 was a record year for Houston home sales with 76,449 single-family homes sold versus 74,174 in 2015. That represents an increase of 3.0 percent. It is also 1.3 percent above the previous record sales volume of 75,470 set in 2014;
• Total dollar volume for 2016 rose 4.2 percent to $24.5 billion;
• December single-family home sales climbed 5.3 percent with 6,628 units sold;
• Total December property sales increased 5.1 percent to 7,868 units;
• Total dollar volume for December increased 10.1 percent to $2.2 billion;
• At $225,903, the single-family home median price rose 2.7 percent to a December high;
• The single-family home average price increased 4.3 percent to $294,512, which was also the highest level for a December;
• Single-family homes months of inventory edged up to a 3.3-months supply;
• Townhome/condominium sales fell 8.1 percent, with the average price up 3.7 percent to $208,905 and the median price up 5.8 percent to $169,250;
• Leases of single-family homes rose 5.2 percent with average rent down slightly to $1,690;
• Leases of townhomes/condominiums climbed 9.5 percent with average rent up slightly to $1,497.