Houston Real Estate Highlights in August

[Jhoana Olarte]

• Single-family home sales rebounded from July’s declines with an 8.5 percent increase, as 9,890 units sold versus 9,118 in August 2020.
• The Days on Market (DOM) figure for single-family homes fell from 51 to 26;
• Total property sales rose 9.2 percent with 12,036 units sold;
• Total dollar volume increased 26.7 percent to $4.3 billion;
• The single-family average price increased 14.0 percent to $380,233;
• The single-family median price rose 15.2 percent to $310,000;
• Single-family homes months of inventory registered a 1.9-months supply, down from 2.6 months year-over-year and below the national inventory of 2.6 months;
• On a year-to-date basis, single-family homes sales are running 17.4 percent ahead of 2020’s record pace.
• Townhome/condominium sales jumped 27.1 percent with the average price up 9.5 percent to $237,473 and the median price up 14.3 percent to $200,000;
• Single-family home rentals fell 10.2 percent with the average rent up 9.6 percent to $2,153;
• Townhome/condominium leases rose 1.8 percent with the average rent up 6.9 percent to $1,765.

Source HAR