Houston Real Estate Highlights in March

[Jhoana Olarte]

• Single-family home sales increased 4.1 percent year-over-year;
• Days on Market (DOM) for single-family homes dropped from 46 to 38;
• Total property sales rose 4.3 percent with 12,149 units sold;
• Total dollar volume increased 15.7 percent to $4.6 billion;
• The single-family average price rose 11.4 percent to $410,923, the highest of all time, and the first time that pricing has topped $400,000;
• The single-family median price increased 15.5 percent to $335,000 – also a record;
• Single-family home months of inventory registered a 1.3-months supply, unchanged from one year earlier;
• Townhome/condominium sales rose 8.7 percent with the average price up 5.8 percent to $255,334 and the median price up 10.4 percent to $215,000;
• Single-family home rentals rose 18.3 percent with the average rent up 6.7 percent to $2,075;
• Townhome/condominium leases were unchanged with the average rent up 7.6 percent to $1,852.

Source HAR