Houston Housing Stats November 2017

[Sharon Tzib]

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

• Single-family home sales continued their post-Hurricane Harvey comeback as volume rose 7.4 percent year-over-year with 6,184 units sold;
• Single-family home sales remain 3.3 percent ahead of 2016’s year-to-date volume;
• Days on Market (DOM) for single-family homes increased from 57 days in November 2016 to 61 days this November;
• Total property sales increased 4.9 percent with 7,270 units sold;
• Total dollar volume jumped 8.4 percent to $2.0 billion;
• The single-family home median price rose a fractional 0.3 percent to $225,725, which represents a November high;
• The single-family home average price increased 0.9 percent to $284,250, also the highest level for a November;
• Single-family homes months of inventory grew year-over-year to a 3.7-months supply, but is down from a 4.3-months pre-Harvey peak – the result of a surge in consumer demand for housing;
• Townhome/condominium sales fell 3.0 percent, with the average price down 5.4 percent to $196,546 and the median price down 3.2 percent to $158,100;
• Leases of single-family homes rose 6.8 percent with the average rent up 2.1 percent to $1,763;
• Volume of townhome/condominium leases jumped 20.1 percent with average rent down 0.5 percent to $1,498.