Houston Housing Stats October 2018

[Sharon Tzib]

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

Houston Real Estate Highlights in October

• Single-family home sales increased 4.7 percent year-over-year, with 6,716 units sold;
• Days on Market (DOM) for single-family homes was 57 versus 61 a year earlier;
• Total property sales rose 6.0 percent, with 8,127 units sold;
• Total dollar volume jumped 9.3 percent to $2.3 billion;
• The single-family home median price climbed 3.6 percent to $234,653, an October high;
• The single-family home average price also achieved an October record, rising 3.5 percent to $294,500;
• Single-family homes months of inventory reached a 3.9-months supply, up fractionally from 3.7 months last October, but below the national supply of 4.4 months reported by NAR;
• Townhome/condominium sales dropped 2.9 percent, with the average price up 4.9 percent to $206,838 and the median price down 2.2 percent at $152,900;
• Leases of single-family homes rose 7.3 percent with the average rent down 1.1 percent to $1,754;
• Volume of townhome/condominium leases fell 6.8 percent with the average rent up 1.2 percent to $1,550.