Real estate sales and prices continue to grow in Houston suggesting a vibrant market continuing to perform. Single-family home sales rose by 5% from July 2016 and YTD, single-family sales remain 6.8% ahead of 2016.
More importantly for sellers, the average single-family home price increased to $299,131. The average price is up from $225,000 just 5 years ago.
Houston Real Estate Highlights in July
- Single-family home sales rose for the tenth straight month, up 5.0 percent year-over-year with 7,440 units sold;
- On a year-to-date basis, single-family home sales remain 6.8 percent ahead of the 2016 volume;
- Total property sales increased 4.5 percent with 8,821 units sold;
- Total dollar volume climbed 7.5 percent to $2.5 billion;
- The single-family home median price remained statistically unchanged at $230,000;
- The single-family home average price increased 2.4 percent to $299,131;
- Single-family homes months of inventory grew to a 4.5-months supply, the highest level since September 2012;
- Townhome/condominium sales fell 9.0 percent, with the average price up 1.8 percent to $201,148.