Houston Housing Stats October 2016

[Sharon Tzib]

Houston Housing Stats October 2016

Highlights:

• Single-family home sales were statistically unchanged with 5,916 units sold;
• On a year-to-date basis, single-family home sales were up 1.2 percent;
• Total property sales rose 0.7 percent to 7,120 units;
• Total dollar volume increased 1.4 percent to $1.9 billion;
• At $218,000, the single-family home median price rose 6.3 percent to an October high;
• The single-family home average price increased 2.2 percent to $277,904, which was also the highest level for an October;
• Single-family homes months of inventory climbed to a 3.8-months supply;
• Townhome/condominium sales were flat, with the average price unchanged at $197,558 and the median price up 4.7 percent to $157,000;
• Leases of single-family homes declined 1.0 percent with average rent down slightly to $1,728;
• Leases of townhomes/condominiums fell 2.3 percent with average rent down 2.1 percent to $1,488.