Here we are in the heart of the fall selling season, and despite speculation that concerns and uncertainty about the outcome of the presidential election would lead to a decline in home sales, the Houston housing market has been holding steady. HAR just released their report for October and for the second straight month, numbers held firm as year-over-year home sales remained statistically unchanged. In addition, median and average home prices both reached record highs for an October.
5,916 single-family homes were sold this October, which was an inconsequential 0.4 percent increase over the 5,893 single-family homes sold a year earlier. Year-to-date home sales are still 1.2 percent ahead of where they were through the same point last year. This is quite impressive considering Houston posted its second highest number of single-family homes sales ever in 2015. In addition, there were 6,589 pending sales at month’s end, which amounts to a rather significant 16.4 percent jump over last year’s pending sales at the end of October.
Single-family home prices for the month, both average and median, climbed all the way to record levels for a Houston October. Average price for single-family homes rose 2.2 percent year-over-year, from $271,964 to $277,904. Median price jumped an even larger 6.3 percent from $205,000 in October 2015 to $218,000 in October 2016.
The number of active listings for the month surged up 9.2 percent from 33,993 in October 2015 to 37,111 this October. Months inventory for single-family homes also saw a year-over-year uptick, from 3.5 months-supply to 3.8 months-supply. That being said, our inventory still sits a good deal below the national average of 4.5 months-supply.
The overall October numbers represent those of a fairly strong market. Not only did we see records set for average and median prices, but we’re also looking at year-to-date sales that are ahead of 2015, a year which produced Houston’s second highest number of single-family home sales of all time! Considering November and December of 2015 produced disappointing sales numbers, with a solid final two months of sales, it’s very possible that 2016 could surpass 2015 for the second spot on Houston’s all-time sales list.
Buying or selling a home or have questions about the market? Give me a call at 713.829.3052 or email me at cynthia@cynthiamullins.com.
…………………………………………………………………………………..
visit my entire blog at http://blogs.har.com/cynthiamullins
client experience rating: http://goo.gl/bCoMo
email cynthia@cynthiamullins.com
website www.cynthiamullins.com
follow me at www.twitter.com/cynthiamullins
friend me at www.facebook.com/cynthiamullins1
my stats: http://goo.gl/hFWEoR
see what people like about the Heights and what they think is its best kept secret at www.youtube.com/cynthiamullins
Houston condominiums, Houston high-rises, Houston home builders, Houston home prices, Houston home rentals, Houston home value, Houston homes, Houston homes for rent, Houston homes for sale, Houston house, Houston house value, Houston houses, Houston housing, Houston listings, Houston MLS, Houston neighborhoods, Houston new homes, Houston properties, Houston property, Houston real estate, Houston real estate agents, Houston real estate associates, Houston real estate brokers, Houston real estate companies, Houston real estate firms, Houston real estate information, Houston real estate listings, Houston real estate market, Houston real estate schools, Houston real estate service providers, Houston real estate solds, Houston real estate values, Houston real estate, Houston realtors, Houston relocation, Houston schools, Houston single family homes, Houston sold home prices, Houston sold homes, Houston subdivisions, Houston town homes, Houston heights real estate housing market homes for sale buying selling inner loop properties Houston Texas TX OPEN Houses 1545 Heights Boulevard, Houston, TX 77008 77007 77009 Houston heights realtor Woodland Heights Norhill Sunset Heights HISD Hogg Middle School IB Program Harvard Elementary Hamilton Middle School Reagan High School
