All Forum Posts by: Sharon Tzib

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Houston Real Estate Highlights in April, 2023:

• -Single-family home sales were down 18.4 percent year-over-year, as prospective homebuyers pull back their purchase plans amid mortgage rate fluctuations;
• -Compared to pre-pandemic 2019, single-family home sales were down 4.7 percent, however they were up 3.9 percent versus the volume five years ago, in April 2018;
• -All housing segments experienced sales declines;
• -Days on Market (DOM) for single-family homes rose from 34 to 55 days;
• -Total property sales fell 20.7 percent with 8,912 units sold;
• -Total dollar volume dropped 19.7 percent to $3.6 billion;
• -The single-family median price dropped 3.6 percent to $331,000;
• -The single-family average price fell 1.3 percent to $419,929;
• -Single-family home months of inventory registered a 2.7-months supply, up from 1.3 months a year earlier;
• -Townhome/condominium sales experienced their 11th straight monthly decline, falling 33.2 percent, with the median price flat at $234,000 and the average price up 1.7 percent to $279,257;
• -Compared to pre-pandemic 2019, townhome and condominium sales were down 9.6 percent.

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Houston Real Estate Highlights in March:

• -Single-family home sales fell 18.3 percent year-over-year, as the market continues its gradual return to normalcy;
• -Compared to pre-pandemic 2019, single-family home sales rose 13.0 percent;
• -All but the sub-$100,000 housing segment experienced negative sales;
• -Days on Market (DOM) for single-family homes rose from 38 to 62 days;
• -Total property sales fell 20.9 percent with 9,589 units sold;
• -Total dollar volume dropped 20.2 percent to $3.7 billion;
• -The single-family median price dropped 3.0 percent to $325,000;
• -The single-family average price was statistically flat at $408,647;
• -Single-family home months of inventory registered a 2.7-months supply, up from 1.1 months a year earlier;
• -Townhome/condominium sales experienced their 10th straight monthly decline, falling 35.3 percent, with the median price up 4.0 percent to $223,500 and the average price up 6.0 percent to $270,294;
• -Compared to pre-pandemic 2019, townhome and condominium sales were unchanged.

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Houston Real Estate Highlights in February, 2023:

• -Single-family home sales fell 23.0 percent year-over-year, as the market continues its recovery from economic headwinds;
• -Compared to pre-pandemic 2019, single-family home sales were up 7.2 percent;
• -All housing segments experienced negative sales;
• -Days on Market (DOM) for single-family homes rose from 42 to 63 days;
• -Total property sales fell 25.3 percent with 6,981 units sold;
• -Total dollar volume dropped 27.3 percent to $2.5 billion;
• -The single-family average price fell 2.4 percent to $385,103;
• -The single-family median price dropped 1.6 percent to $320,000;
• -Both pricing decreases were the first since the spring of 2020;
• -Single-family home months of inventory registered a 2.6-months supply, up from 1.2 months a year earlier;
• -Townhome/condominium sales experienced their ninth straight monthly decline, falling 32.4 percent, with the average price down 7.8 percent to $244,595 and the median price down 3.8 percent to $216,510;
• -Compared to pre-pandemic 2019, townhome and condominium sales were up 4.5 percent.

@Robb Silverstein Definitely depends on the neighborhood and price point. When my investor expresses an interest in an area, I run the leased comps to determine how long on average it takes to lease a property and what kind of activity we've seen over the last six months in order to give an idea of the amount of competition, etc. Let me know if you need any other information. 

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Houston Real Estate Highlights in January, 2023:

- Single-family home sales fell 29.9 percent year-over-year, as the market tries to recover from economic headwinds

- All housing segments experienced negative sales.

- Days on Market (DOM) for single-family homes went from 39 to 59 days

- Total property sales fell 30.9 percent with 5,650 units sold

- Total dollar volume dropped 30.9 percent to $2.0 billion

- The single-family average price rose 1.5 percent to $381,983

- The single-family median price increased 1.6 percent to $315,000

- Single-family home months of inventory registered a 2.7-months supply, up from 1.3 months a year earlier

- Townhome/condominium sales experienced their eighth straight monthly decline, falling 37.1 percent, with the average price down 4.3 percent to $230,775 and the median price up 7.7 percent to $191,000.

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Houston Real Estate Highlights for December and Full-Year 2022:

• -2022 marked the first year of declining home sales for the Houston market since 2015, with 95,113 single-family homes sold versus 106,756 in 2021 – a decline of 10.9 percent; .
• -Total dollar volume for full-year 2022 fell just 1.5 percent to $39.3 billion;
• -December single-family home sales fell 32.6 percent year-over-year with 6,378 units sold;
• -Total December property sales dropped 34.5 percent to 7,634 units;
• -Total dollar volume for December fell 32.4 percent to $2.9 billion;
• -At $330,000, the single-family home median price rose 3.8 percent;
• -The single-family home average price climbed 5.1 percent to $409,777;
• -Single-family homes months of inventory expanded 2.7-months supply;
• -Townhome/condominium sales spent the latter half of 2022 with declining sales, and in December, volume fell 46.1 percent with the average price down 6.6 percent to $241,502 and the median price down 2.3 percent to $214,999;
• -Townhome/condominium inventory grew from a 1.7-months supply to 2.0 months.

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Houston Real Estate Highlights in November, 2022:

• -Single-family home sales fell 30.4 percent year-over-year, the eighth consecutive and steepest decline of 2022 as the market endures economic headwinds;
• -All housing segments experienced negative sales in November.
• -Days on Market (DOM) for single-family homes went from 35 to 48 days;
• -Total property sales fell 30.2 percent with 7,171 units sold;
• -Total dollar volume declined 28.2 percent to $2.7 billion;
• -The single-family average price rose 5.8 percent to $403,589;
• -The single-family median price increased 7.0 percent to $332,000;
• -Single-family home months of inventory registered a 2.9-months supply, up from 1.9 months a year earlier. That is the greatest months inventory level since July of 2020;
• -Townhome/condominium sales experienced their sixth straight monthly decline, falling 36.2 percent, with the average price down 1.3 percent to $253,551 and the median price up 3.8 percent to $218,000.

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Houston Real Estate Highlights in October, 2022:

• -Single-family home sales fell 22.8 percent year-over-year, the seventh consecutive decline of 2022 as the market returns to pre-pandemic levels;
• -All housing segments experienced negative sales in October. The smallest decline in sales Days on Market (DOM) for single-family homes grew from 32 to 43 days;
• -Total property sales were down 22.7 percent with 8,223 units sold;
• -Total dollar volume declined 18.4 percent to a little over $3 billion;
• -The single-family average price rose 7.2 percent to $403,712;
• -The single-family median price increased 8.4 percent to $330,500;
• -Single-family home months of inventory registered a 2.8-months supply, up from 1.8 months a year earlier. That is the greatest inventory level since July of 2020;
• -Townhome/condominium sales experienced their fifth consecutive monthly decline, falling 19.4 percent, with the average price up 9.3 percent to $269,936 and the median price up 3.9 percent to $226,500.

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Houston Real Estate Highlights in September, 2022:

• -Single-family home sales fell 17.0 percent year-over-year, the sixth consecutive decline of 2022 as the market continues toward a more normalized, pre-pandemic pace;
• -Despite the overall sales volume decline, the high end of the market flourished with the $500,000 to $1M housing segment establishing itself as the top-performing segment in September, up 12.6 percent year-over-year;
• -Days on Market (DOM) for single-family homes grew from 29 to 37 days;
• -Total property sales were down 17.0 percent with 9,387 units sold;
• -Total dollar volume was off 8.5 percent at $3.7 billion;
• -The single-family average price rose 11.6 percent to $414,776;
• -The single-family median price increased 14.7 percent to $343,950;
• -Single-family home months of inventory registered a 2.7-months supply, up from 1.7 months a year earlier. That is the greatest inventory level since July of 2020;
• -Townhome/condominium sales experienced their fourth consecutive monthly decline, falling 17.6 percent, with the average price up 7.5 percent to $257,781 and the median price up 4.8 percent to $220,000.

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Houston Real Estate Highlights in August:

• -Single-family home sales fell 16.9 percent year-over-year, the fifth decline of 2022 as the market continues toward a more normalized, pre-pandemic pace;
• -Days on Market (DOM) for single-family homes ticked up from 27 to 31 days;
• -The ‘Close to Original List Price Ratio’ for single-family homes has now remained below 100 percent for two consecutive months, meaning fewer buyers paid above list price for homes on the market;
• -Total property sales were down 15.8 percent with 10,157 units sold;
• -Total dollar volume was off 9.4 percent at $3.9 billion;
• -The single-family average price rose 8.7 percent to $411,671;
• -The single-family median price increased 10.8 percent to $341,950;
• -Single-family home months of inventory registered a 2.5-months supply, up from 1.7 months a year earlier. That is the greatest inventory level since August of 2020;
• -Townhome/condominium sales experienced their third consecutive monthly decline, falling 14.9 percent, with the average price up 7.2 percent to $254,383 and the median price up 8.1 percent to $217,000.