Houston Real Estate Highlights for December and Full-Year 2020

[Jhoana Olarte]

• Despite a devastating global pandemic, 2020 proved to be a record year for Houston real estate with 96,151 single-family homes sold versus 86,996 in 2019, the last record-setting year. That represents an increase of 10.5 percent;
• Total dollar volume for full-year 2020 rose 18.1 percent to a record-setting $35.3 billion;
• December single-family home sales jumped 25.5 percent year-over-year with 9,652 units sold;
• Total December property sales increased 27.2 percent to 11,572 units;
• Total dollar volume for December soared 39.3 percent to $3.9 billion;
• At $273,443, the single-family home median price rose 8.7 percent, establishing a new record high;
• The single-family home average price climbed 11.4 percent to an all-time high of $347,164;
• Single-family homes months of inventory narrowed sharply to a record low 1.9-months supply;
• Townhome/condominium sales rose 10.9 percent year-over-year with the average price unchanged at $227,856 and the median price down 2.7 percent to $180,000;
• Leases of single-family homes fell 14.5 percent with average rent up 7.5 percent to $1,899;
• Leases of townhomes/condominiums climbed 13.1 percent with average rent up 3.6 percent to $1,641.
• rage rent up 7.5 percent to $1,899;