After digging into the monthly sales figures, I am happy to report that it’s still smooth sailing for both buyers and sellers as the number of total homes sold is up as well as months of inventory (the number of homes out there for buyers to choose from). We’re seeing listings get under contract far sooner than in recent years past, and buyers are taking the cue from rising prices and interest rates to get serious about their search.
According to the latest report from HAR, June was a record-setting month for the Houston real estate market as single-family home sales, average price, and median price all rose to their highest levels of all time. 8,518 single-family homes were sold this June. That amounts to a 1.8 percent increase over the 8,367 homes sold in June 2017, which had previously held the record for most homes sold in a single month. Year-to-date, single-family home sales are now an impressive 2.6 percent ahead of last year’s record pace.
Median sales price, year-over-year, climbed 2.6 percent to $245,000 while average price jumped up 4.3 percent to $316,463. These prices are both all-time highs, breaking the record prices that had been set just one month prior. Inventory, which has been a concern ever since Hurricane Harvey hit, stands at a 4.1-months supply. That is Houston’s highest inventory level since it was a 4.3-months supply last August, and is equal to the current supply nationally.
Meanwhile, the economy is faring well both locally and nationally. I think 2018 is going to be another record year for real estate, but it’s never lost on me that there are buyers and sellers out there who may not be feeling the positive effects just yet. There are any number of factors that can make getting to the closing table tougher for some, but rest assured that confidence and stability in the marketplace has a good ripple effect to us all over time.
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.
……………………………………………………………………………………………………………….
.png)
- 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
