All Forum Posts by: Sharon Tzib

https://www.har.com/content/department/newsroom?pid=2061

Houston Real Estate Highlights in February, 2024;

• -Single-family home sales rose 7.6 percent year-over-year, the third increase in the past year;
• -Days on Market (DOM) for single-family homes went from 64 to 57 days;
• -Total property sales rose 7.0 percent with 7,541 units sold;
• -Total dollar volume was up 11.8 percent to $2.9 billion;
• -The single-family median price rose 3.0 percent to $329,686;
• -The single-family average price rose 4.1 percent to $400,252;
• -Single-family home months of inventory registered a 3.4-months supply, up from 2.5 months a year earlier;
• -Townhome/condominium sales continue to decline, falling 8.1 percent, with the median price up 8.9 percent to $237,500 and the average price up 5.5 percent to $258,587.

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Houston Real Estate Highlights in January, 2024:

• -Single-family home sales rose 9.0 percent year-over-year, the second increase in two years;
• -Days on Market (DOM) for single-family homes went from 60 to 58 days;
• -Total property sales rose 6.9 percent with 6,098 units sold;
• -Total dollar volume was up 11.9 percent to $2.3 billion;
• -The single-family median price rose 2.1 percent to $320,500;
• -The single-family average price rose 2.7 percent to $391,080, the first time that figure has been below $400,000 since last February;
• -Single-family home months of inventory registered a 3.3-months supply, up from 2.6 months a year earlier;
• -Townhome/condominium sales continue the declines that prevailed all through 2023, falling 4.0 percent, with the median price up 14.1 percent to $223,000 and the average price up 7.0 percent to $247,437.

https://www.har.com/content/department/newsroom?pid=2020

Houston Real Estate Highlights for December and Full-Year 2023:

• -2023 marked the second consecutive year of declining home sales with 83,854 single-family homes sold versus 95,302 in 2022 – a decline of 12.0 percent; .
• -Total dollar volume for full-year 2023 fell 12.6 percent to $40B;
• -December single-family home sales fell 6.2 percent year-over-year with 6,103 units sold;
• -Total December property sales declined 4.9 percent to 7,395 units;
• -Total dollar volume for December fell 3.7 percent to $2.9B;
• -At $330,000, the single-family home median price was unchanged;
• -The single-family home average price was also unchanged at $407,817;
• -Single-family homes months of inventory expanded to a 3.3-months supply;
• -The townhome/condominium market experienced declining sales throughout 2023, and in December, volume fell 7.0 percent with the average price up 6.7 percent to $258,137 and the median price down 9.3 percent to $235,000;
• -Townhome/condominium inventory grew from a 2.0-months supply to 3.5 months.

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Houston Real Estate Highlights in November, 2023:

• -Single-family home sales rose 4.9 percent year-over-year, the first increase in 19 months;
• -Compared to November 2019, before the pandemic, sales were down 3.2 percent, and compared to November 2018, five years back, they were statistically flat;
• -Days on Market (DOM) for single-family homes went from 48 to 47 days;
• -Total property sales rose 3.7 percent with 7,472 units sold;
• -Total dollar volume was up 7.5 percent to $2.9 billion;
• -The single-family median price fell 1.2 percent to $326,000;
• -The single-family average price rose 1.0 percent to $404,597;
• -Single-family home months of inventory registered a 3.5-months supply, up from 2.8 months a year earlier – the highest level since November 2019;
• -Townhome/condominium sales experienced their 18th straight monthly decline, falling 3.0 percent, with the median price up 11.4 percent to $245,000 and the average price up 7.3 percent to $272,382;
• -Compared to pre-pandemic 2019, townhome and condominium sales were down 9.6 percent.

https://www.har.com/content/department/newsroom?pid=1999

Houston Real Estate Highlights in October, 2023:

• -Single-family home sales fell 3.4 percent year-over-year, the smallest one-month sales drop of 2023 and the 19th consecutive month of declines;
• -Compared to October 2019, before the pandemic, sales were down 11.3 percent, and compared to October 2018, five years back, they were down 4.6 percent;
• -Days on Market (DOM) for single-family homes rose from 43 to 47 days;
• -Total property sales fell 4.3 percent with 7,825 units sold;
• -Total dollar volume dropped 2.6 percent to $2.98 billion;
• -The single-family median price fell a fractional 0.9 percent to $327,000;
• -The single-family average price rose a fractional 0.4 percent to $403,556;
• -Single-family home months of inventory registered a 3.6-months supply, up from 2.8 months a year earlier – the highest level since November 2019 when it also was 3.6 months;
• -Townhome/condominium sales experienced their 17th straight monthly decline, falling 16.4 percent, with the median price up 6.6 percent to $239,900 and the average price up 1.2 percent to $272,597;
• -Compared to pre-pandemic 2019, townhome and condominium sales were down 10.5 percent.

https://www.har.com/content/department/newsroom?pid=1983

Houston Real Estate Highlights in September, 2023:

• -Single-family home sales fell 10.9 percent year-over-year, making September the 18th consecutive month of slowing sales volume;
• -Compared to September 2019, before the pandemic, sales were down 2.3 percent, and compared to September 2018, five years back, they were up 7.1 percent;
• -Days on Market (DOM) for single-family homes rose from 37 to 45 days;
• -Total property sales fell 9.5 percent with 8,550 units sold;
• -Total dollar volume dropped 9.6 percent to $3.3 billion;
• -The single-family median price fell 2.2 percent to $333,000;
• -The single-family average price rose 0.8 percent to $416,664;
• -Single-family home months of inventory registered a 3.5-months supply, up from 2.6 months a year earlier – the biggest supply since November 2019;
• -Townhome/condominium sales experienced their 16th straight monthly decline, falling 14.4 percent, with the median price up 2.2 percent to $224,250 and the average price up 0.3 percent to $257,909;
• -Compared to pre-pandemic 2019, townhome and condominium sales were down 5.2 percent.

https://www.har.com/content/department/newsroom?pid=1977

Houston Real Estate Highlights in August, 2023:

• -Single-family home sales were down 3.8 percent year-over-year, the 17th consecutive month of slowing sales volume, however there continued to be signs of overall improvement to the local housing market;
• -The 3.8 percent decline is the smallest since the market registered a 0.8 percent drop in May 2022;
• -Compared to August 2019, before the pandemic, sales were down 8.0 percent, and compared to August 2018, five years back, they were down 4.5 percent.
• -Days on Market (DOM) for single-family homes rose from 32 to 42 days;
• -Total property sales fell 4.3 percent with 9,780 units sold;
• -Total dollar volume dropped 2.0 percent to $3.8 billion;
• -The single-family median price was statistically unchanged at $339,000;
• -The single-family average price rose 2.5 percent to $420,124;
• -Single-family home months of inventory registered a 3.3-months supply, up from 2.4 months a year earlier – the biggest supply in three years;
• -Townhome/condominium sales experienced their 15h straight monthly decline, falling 19.0 percent, with the median price up 3.2 percent to $225,000 and the average price up 2.7 percent to $260,909;
• -Compared to pre-pandemic 2019, townhome and condominium sales were down 13.0 percent.

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Houston Real Estate Highlights in July, 2023:

• -Single-family home sales were down 8.5 percent year-over-year, the 16th consecutive month of slowing sales volume, however there continued to be signs of overall improvement to the local housing market;
• -The 8.5 percent decline is the smallest since the market registered a 7.6 percent drop in June 2022;
• -Compared to July 2019, before the pandemic, sales were down 15.3 percent, and compared to July 2018, five years back, they were down 5.8 percent.
• -Days on Market (DOM) for single-family homes rose from 27 to 42 days;
• -Total property sales fell 8.3 percent with 9,223 units sold;
• -Total dollar volume dropped 8.8 percent to $3.7 billion;
• -The single-family median price dropped 2.3 percent to $340,000;
• -The single-family average price edged up 0.6 percent to $428,140;
• -Single-family home months of inventory registered a 3.2-months supply, up from 2.4 months a year earlier – the biggest supply in three years;
• -Townhome/condominium sales experienced their 14h straight monthly decline, falling 9.8 percent, with the median price down 2.2 percent to $220,000 and the average price up 2.1 percent to $263,876;
• -Compared to pre-pandemic 2019, townhome and condominium sales were down 14.6 percent.

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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.

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Houston Real Estate Highlights in May, 2023:

• -Single-family home sales were down 10.4 percent year-over-year, the 14th consecutive month of slowing sales volume but the lowest rate of decline since June 2022, suggesting that improved market conditions may be looming;
• -Compared to pre-pandemic 2019, single-family home sales were down just 1.3 percent, however they were up 6.4 percent versus the volume five years ago, in May 2018;
• -All housing segments experienced sales declines except homes priced below $100,000;
• -Days on Market (DOM) for single-family homes rose from 30 to 48 days;
• -Total property sales fell 12.5 percent with 10,476 units sold;
• -Total dollar volume dropped 12.7 percent to $4.3 billion;
• -The single-family median price dropped 3.1 percent to $340,095;
• -The single-family average price fell 1.6 percent to $431,378;
• -Single-family home months of inventory registered a 2.8-months supply, up from 1.5 months a year earlier;
• -Townhome/condominium sales experienced their 12th straight monthly decline, falling 26.1 percent, with the median price down 6.0 percent to $216,300 and the average price down 3.7 percent to $262,015;
• -Compared to pre-pandemic 2019, townhome and condominium sales were down 7.7 percent.