HOUSTON REAL ESTATE KICKS OFF 2021 WITH GUSTO

[Jhoana Olarte]

• Single-family home sales increased for the eighth consecutive month, surging 27.7 percent year-over-year with 6,088 units sold;
• The Days on Market (DOM) figure for single-family homes dropped from 69 to 48;
• Total property sales shot up 27.5 percent with 7,519 units sold;
• Total dollar volume jumped 42.8 percent to $2.3 billion;
• The single-family average price reached a January high, rising 12.5 percent to $326,063;
• The single-family median price climbed 12.1 percent to $263,500 – also a January high;
• Single-family homes months of inventory registered a record low 1.8-months supply, down from 3.3 months before the pandemic and below the national inventory of 1.9 months;
• Townhome/condominium sales rose 12.5 percent with the average price up 12.4 percent to $211,188 and the median price up 17.0 percent to $175,500;
• Single-family home rentals fell 18.4 percent with the average rent up 6.0 percent to $1,889;
• Townhome/condominium leases dropped 6.3 percent with the average rent up 0.9 percent to $1,607.