Houston Real Estate Highlights in January

[Jhoana Olarte]

• Single-family home sales jumped 14.3 percent year-over-year, with 4,699 units sold, marking the seventh consecutive month of positive sales;
• Days on Market (DOM) for single-family homes extended slightly from 66 to 68 days;
• Total property sales surged 15.2 percent, with 5,800 units sold;
• Total dollar volume rose 17.1 percent to about $1.6 billion;
• The single-family home median price increased 4.5 percent to $234,000, reaching a January high;
• The single-family home average price climbed 4.6 percent to a January high of $291,034;
• Single-family homes months of inventory was at a 3.5-months supply, down fractionally from 3.6 months last January but above the national inventory level of 3.0 months;
• Townhome/condominium sales jumped for a second straight month – up 20.9 percent, with the average price down 3.5 percent to $186,582 and the median price down 5.2 percent to $149,750;
• Lease properties experienced a strong performance, as single-family home rentals climbed 14.5 percent with the average rent up 1.7 percent to $1,782;
• Volume of townhome/condominium leases rose 5.6 percent with the average rent up 5.9 percent to $1,598.