Houston Real Estate Highlights in June

[Jhoana Olarte]

Houston Real Estate Highlights in June

• Single-family home sales were down 12.8 percent year-over-year, the 15th consecutive month of slowing sales volume, however there were signs of overall improvement to the local housing market;
• Compared to pre-pandemic 2019, single-family home sales were up 3.9 percent and were up 2.3 percent versus the volume five years ago, in June 2018;
• The luxury segment, consisting of homes priced from $1M and above, saw its first gains in months, climbing 5.9 percent year-over-year in June;
• Days on Market (DOM) for single-family homes rose from 28 to 45 days;
• Total property sales fell 13.7 percent with 10,382 units sold;
• Total dollar volume dropped 13.4 percent to $4.2 billion;
• The single-family median price dropped 2.5 percent to $345,000;
• The single-family average price fell 0.5 percent to $431,092;
• Single-family home months of inventory registered a 3.1-months supply, up from 1.9 months a year earlier – the biggest supply in three years;
• Townhome/condominium sales experienced their 13th straight monthly decline, falling 17.5 percent, with the median price down 2.5 percent to $217,000 and the average price down 2.7 percent to $252,845;
• Compared to pre-pandemic 2019, townhome and condominium sales were up 5.1 percent.

Source HAR