Houston Real Estate Highlights in August

[Jhoana Olarte]

Houston Real Estate Highlights in August

(* asterisk denotes that the “Harvey effect” has been removed):

• Single-family home sales rose 7.6 percent year-over-year, with 5,844 units sold*;
• Days on Market (DOM) for single-family homes declined slightly to 49 days;
• Total property sales jumped 36.8 percent, with 9,978 units sold;
• Total dollar volume increased 40.1 percent to $2.86 billion;
• The single-family home median price rose 3.0 percent to $236,870, reaching an August high;
• The single-family home average price also achieved an August record, rising 1.9 percent to $300,670;
• Single-family homes months of inventory was at a 4.1-months supply, down from 4.3 months last August and equal to the national level;
• Townhome/condominium sales rose 12.3 percent year-over-year, with 457 units sold in 2018 compared to 407 one year earlier*;
• Leases of single-family homes rose 7.6 percent with the average rent up 3.4 percent to $1,926*;
• Volume of townhome/condominium leases fell 8.6 percent with the average rent up 5.5 percent to $1,639*

HAR https://www.har.com/content/newsroom?pid=1563