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July Home Prices Rise: MLS Report

Houston Homes July 2017

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.

 

Single Family Sales - July 2017

 

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.

 

Average Sales Price - Houston Homes 2017

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.

 

 

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