HOUSTON REAL ESTATE TEARS THROUGH APRIL AT A RECORD PACE

[Jhoana Olarte]

• Single-family home sales increased for the eleventh consecutive month, up a dramatic 47.4 percent year-over-year with 9,105 units sold;
• The Days on Market (DOM) figure for single-family homes dropped from 58 to 40;
• Total property sales rose 58.3 percent with 11,348 units sold;
• Total dollar volume increased 85.9 percent to about $4.0 billion;
• The single-family average price reached a record high, rising 20.0 percent to $371,854;
• The single-family median price climbed 17.6 percent to $295,000 – also a record high;
• Single-family homes months of inventory registered an historic low 1.4-months supply, down from 3.4 months year-over-year and below the national inventory of 2.1 months;
• On a year-to-date basis, single-family homes sales are running 24.4 percent ahead of 2020’s record pace.
• Townhome/condominium sales shot up 112.7 percent and reached record-level pricing with the average price up 8.8 percent to $246,940 and the median price up 11.0 percent to $200,000;
• Single-family home rentals fell 3.4 percent with the average rent up 11.0 percent to $1,960;
• Townhome/condominium leases rose 15.1 percent with the average rent up 8.0 percent to $1,688.

HAR