Houston Housing Stats March, 2021

[Sharon Tzib]

https://www.har.com/content/newsroom/: "With frenzied buying at the high end and shrinking inventory in the mid-to-low end, the Houston real estate market managed to achieve its tenth straight month of positive sales in March, with some of the data distorted because it compares to March of 2020 when very little business took place as a result of COVID-19 lockdowns."

Houston Real Estate Highlights in March

• -Single-family home sales increased for the tenth consecutive month, up 24.4 percent year-over-year with 9,347 units sold;
• -The Days on Market (DOM) figure for single-family homes dropped from 65 to 45;
• -Total property sales shot up 31.5 percent with 11,692 units sold;
• -Total dollar volume soared 55.8 percent to $4.0 billion;
• -The single-family average price reached a record high, rising 19.9 percent to $370,847;
• -The single-family median price climbed 16.0 percent to $290,000 – also a record high;
• -Single-family homes months of inventory registered an historic low 1.4-months supply, down from 3.4 months year-over-year and below the national inventory of 2.0 months;
• -On a year-to-date basis, single-family homes sales are running 16.9 percent ahead of 2020’s record pace.
• -Townhome/condominium sales jumped 45.2 percent with the average price up 7.6 percent to $242,063 and the median price up 5.3 percent to $195,000;
• -Single-family home rentals fell 17.9 percent with the average rent up 8.8 percent to $1,944;
• -Townhome/condominium leases rose 5.7 percent with the average rent up 6.8 percent to $1,720.