Houston Housing Stats November, 2019

[Sharon Tzib]

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

Houston Real Estate Highlights in November

• Single-family home sales rose 3.6 percent year-over-year, with 6,395 units sold;
• On a year-to-date basis, single-family home sales are running 4.1 percent ahead of 2018’s record pace;
• Days on Market (DOM) for single-family homes went from 60 to 59 days;
• Total property sales increased 2.1 percent, with 7,577 units sold;
• Total dollar volume rose 3.4 percent to $2.2 billion;
• The single-family home median price increased 2.5 percent to $240,900, achieving a November high;
• The single-family home average price ticked up 1.1 percent to $297,831 – also a record high for a November;
• Single-family homes months of inventory was flat for the first time in 2019, holding steady at a 3.8 months supply. For comparison, the national housing inventory is at a 3.9-months supply, according to NAR;
• Townhome/condominium sales fell 5.1 percent year-over-year, with 467 units sold. The average price increased 3.4 percent to $218,440 while the median price rose 2.5 percent to $168,625;
• Single-family home leases fell 1.3 percent with the average rent up 2.6 percent to $1,775;
• Volume of townhome/condominium leases dropped 8.7 percent with the average rent unchanged at $1,500.