Houston Real Estate Highlights in February

[Jhoana Olarte]

• Single-family home sales increased for the ninth consecutive month, up 1.2 percent year-over-year with 6,049 units sold;
• The Days on Market (DOM) figure for single-family homes dropped from 68 to 48;
• Total property sales rose 1.9 percent with 7,464 units sold;
• Total dollar volume jumped 17.3 percent to $2.4 billion;
• The single-family average price reached a record high, rising 16.2 percent to $349,963;
• The single-family median price climbed 12.6 percent to $275,900 – also a record high;
• Single-family homes months of inventory registered an historic low 1.6-months supply, down from 3.3 months before the pandemic and below the national inventory of 1.9 months;
• Townhome/condominium sales rose 4.1 percent with the average price up 1.4 percent to $219,326 and the median price up 1.0 percent to $178,700;
• Single-family home rentals fell 26.1 percent with the average rent up 8.7 percent to $1,924;
• Townhome/condominium leases dropped 15.7 percent with the average rent up 1.9 percent to $1,637.