JULY HOME SALES ACROSS HOUSTON REACH RECORD TERRITORY

[Jhoana Olarte]

• Following a strong performance in June, single-family home sales soared into record-setting territory in July, leaping 23.0 percent year-over-year with 10,975 units sold – a record one-month sales volume;
• The Days on Market (DOM) figure for single-family homes expanded from 51 to 56 days;
• Total property sales soared 25.0 percent with a record-setting 13,043 units sold;
• Total dollar volume shot up 33.8 percent to $4.1 billion;
• The single-family home median price set a new record high of $271,830 as it rose 8.7 percent year-over year;
• The single-family home average price jumped 8.5 percent to $338,350 – also an historic high;
• Single-family homes months of inventory was at a 3.0-months supply, down from 4.2 months last July and below the national inventory level of 4.0 months;
• Townhome/condominium sales were flat, with the average price up 9.9 percent to $223,190 and the median price up 12.3 percent to $183,000;
• Single-family home rentals rose 2.9 percent with the average rent up 1.8 percent to $1,940;
• Townhome/condominium leases increased 6.9 percent with the average rent unchanged at $1,659.

Source: HAR