Houston Real Estate Highlights in February!

[Jhoana Olarte]

Houston Real Estate Highlights in February

• Single-family home sales were statistically flat year-over-year, with 5,280 units sold, ending three consecutive months of declining sales;
• Days on Market (DOM) for single-family homes increased slightly from 66 to 68 days;
• Total property sales were also statistically flat, with 6,388 units sold;
• Total dollar volume rose 3.1 percent to $1.76 billion;
• The single-family home median price climbed 2.9 percent to $232,900, reaching a February high;
• The single-family home average price increased 1.9 percent to a February high of $286,156;
• Single-family homes months of inventory was at a 3.7-months supply, up from 3.1 months last February, but slightly below the national inventory level of 3.9 months;
• Townhome/condominium sales fell for a sixth straight month – down 7.6 percent, with the average price down 11.9 percent to $186,859 and the median price down 11.8 percent to $150,000;
• Lease properties staged a strong performance, as single-family home rentals leapt 26.5 percent with the average rent up 0.8 percent to $1,733;
• Volume of townhome/condominium leases surged 27.1 percent with the average rent up 1.9 percent to $1,548

https://www.har.com/content/newsroom?pid=1602