HOUSTON REAL ESTATE KICKS OFF 2022 WITH A SOLID PERFORMANCE

[Jhoana Olarte]

Houston Real Estate Highlights in January

• Single-family home sales staged a strong open to the new year with January volume up 7.1 percent year-over-year;
• Days on Market (DOM) for single-family homes dropped from 48 to 39;
• Total property sales rose 9.3 percent with 8,134 units sold;
• Total dollar volume increased 28.1 percent to $2.9 billion;
• The single-family average price rose 16.2 percent to $377,738, the highest ever for a January;
• The single-family median price increased 17.9 percent to $310,000 – also a January record;
• Single-family home months of inventory registered a 1.4-months supply, down from 1.7 months year-over-year and below the national inventory of 1.8 months;
• Townhome/condominium sales rose 24.7 percent with the average price up 14.7 percent to $241,605 and the median price up 18.3 percent to $207,700;
• Single-family home rentals rose 7.8 percent with the average rent up 9.7 percent to $2,070;
• Townhome/condominium leases increased 2.6 percent with the average rent up 11.9 percent to $1,801.

Source HAR