June 2017 was a truly historic month for home sales in the Houston market. Total houses sold and average sales price were the highest in the market’s history.
A total of 8,414 single-family homes were sold in June compared to 7,771 a year earlier, according to the latest monthly report produced by the Houston Association of Realtors (HAR). That represents an 8.3 percent increase and marks the largest one-month sales volume in history.
“June proved to be another phenomenal month for the Houston real estate market with buyers and renters sending volume and pricing into record territory,” said HAR Chair Cindy Hamann. “Between continued strong employment numbers and healthy housing inventory levels, we expect the market to remain vibrant.”
The single-family home median price (the figure at which half of the homes sold for more and half sold for less) climbed 2.6 percent to $239,023. The average price edged up 1.5 percent to $304,155. Both figures are all-time highs.
June sales of all property types in Houston totaled 9,993, up 8.3 percent from the same month last year. Total dollar volume for properties sold in June rose 10.4 percent to $2.9 billion.
Houston Real Estate Highlights in June
Single-family home sales rose 8.3 percent year-over-year with 8,414 units sold – the largest one-month sales volume of all time;
Total property sales increased 8.3 percent with 9,993 units sold;
Total dollar volume jumped 10.4 percent to $2.9 billion;
The single-family home median price rose 2.6 percent to a record high of $239,023;
The single-family home average price increased 1.5 percent to $304,155, which was also a record high;
Single-family homes months of inventory grew to a 4.4-months supply, the highest level since October 2012;