May 2017 Houston Housing Stats

[Sharon Tzib]

http://www.har.com/content/mls/?m=6&y=17&utm_source=HAR%2FMLS+Master+List&utm_campaign=45fa61a732-January+2017+MLS+Release&utm_medium=email&utm_term=0_5c0a7c027d-45fa61a732-252424337

Houston Real Estate Highlights in May:

• Single-family home sales rose 11.5 percent year-over-year with 8,156 units sold;
• Total property sales increased 12.3 percent with 9,744 units sold;
• Total dollar volume jumped 17.4 percent to $2.8 billion;
• The single-family home median price rose 4.4 percent to a record high of $235,000;
• The single-family home average price climbed 4.3 percent to $302,362, which was the second highest level of all time (highest was $302,629 in June 2015);
• Single-family homes months of inventory grew to a 4.1-months supply, the highest level since November 2012;
• Townhome/condominium sales surged 16.5 percent, with the average price up 3.1 percent to $206,363 and the median price up 0.9 percent to $163,500;
• Leases of single-family homes soared 31.0 percent with average rent down 4.2 percent to $1,779;
• Volume of townhome/condominium leases rocketed 46.2 percent with average rent down 6.7 percent to $1,565.