Houston Housing Stats March 2017

[Sharon Tzib]

Houston Real Estate Highlights in March:

• Single-family home sales rose 11.7 percent year-over-year with 7.013 units sold, the third consecutive monthly gain of 2017;
• Total property sales jumped 10.5 percent with 8,495 units sold;
• Total dollar volume soared 15.7 percent to $2.3 billion;
• At $227,530, the single-family home median price rose 5.8 percent to a March high;
• The single-family home average price climbed 4.6 percent to $284,279, which was also the highest level for a March;
• Single-family homes months of inventory grew to a 3.8-months supply, matching the national level reported by NAR;
• Townhome/condominium sales increased 7.4 percent, with the average price up 3.4 percent to $200,556 and the median price unchanged at $154,250;
• Leases of single-family homes rocketed 36.6 percent with average rent down 4.9 percent to $1,647;
• Volume of townhome/condominium leases surged 37.8 percent with average rent down 5.6 percent to $1,487.

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