Houston Housing Stats Post-Harvey, September 2017

[Sharon Tzib]

Once again, Houston proves its resiliency! 

Houston Real Estate Highlights in September:

• Single-family home sales staged an impressive post-Hurricane Harvey rebound, rising 4.2 percent year-over-year with 6,913 units sold;
• On a year-to-date basis, single-family home sales remain 2.3 percent ahead of the 2016 volume, despite Harvey’s effect on Houston housing;
• Total property sales rose 3.4 percent with 8,150 units sold;
• Total dollar volume jumped 10.2 percent to $2.3 billion;
• At $232,000, the single-family home median price rose 5.5 percent, achieving a September high;
• The single-family home average price increased 5.4 percent to $291,767, also a record high for a September;
• Single-family homes months of inventory rose year-over-year from a 3.9-months supply to 4.1 months, but that is below the healthier 4.4-months supply that prevailed during the two months leading up to Harvey;
• Townhome/condominium sales fell 5.8 percent, with the average price up 3.5 percent to $208,215 and the median price up 8.4 percent to $159,950;
• Leases of single-family homes shot up an unprecedented 83.6 percent with average rent up 7.9 percent to $1,886;
• Volume of townhome/condominium leases surged 92.2 percent with average rent up 5.4 percent to $1,601.
• HAR continues to encourage anyone who has housing available for temporary occupancy (up to 12 weeks) to please post it on our Harvey Temporary Housing page as soon as possible at www.har.com/temporaryhousing to provide housing to those in need.

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