Houston Housing Stats October, 2021

[Sharon Tzib]

https://www.har.com/content/newsroom?pid=1803

Per HAR, "Along with the first notable cold front of the fall season, October delivered the inevitable to a hot Houston real estate market: cooling sales. Buyers weary of limited housing inventory apparently stepped back in October, which became the second month of 2021 to experience a decline in home sales. The first was July. 

Prices appreciated once again. The single-family home average price climbed 13.1 percent to $377,631 while the median price rose 14.7 percent to $305,000. Both are record prices for an October but are well below the all-time pricing highs set in June 2021."

Houston Real Estate Highlights in October:

• -Single-family home sales fell for the second time in 2021, down 5.2 percent with 8,703 units sold versus 9,183 in October 2020;
• -The Days on Market (DOM) figure for single-family homes rolled back from 48 to 32;
• -Total property sales fell 3.1 percent with 10,756 units sold;
• -Total dollar volume rose 9.9 percent to $3.8 billion;
• -The single-family average price increased 13.1 percent to $377,631;
• -The single-family median price rose 14.7 percent to $305,000;
• -Single-family homes months of inventory registered a 1.8-months supply, down from 2.3 months year-over-year and below the national inventory of 2.4 months;
• -On a year-to-date basis, single-family homes sales are running 12.9 percent ahead of 2020’s record pace and 21.6 percent ahead of 2019.
• -Townhome/condominium sales rose 7.6 percent with the average price up 12.6 percent to $247,846 and the median price up 23.0 percent to $219,000;
• -Single-family home rentals fell 3.4 percent with the average rent up 9.7 percent to $2,092;
• -Townhome/condominium leases fell 1.3 percent with the average rent up 7.3 percent to $1,712.