Houston housing market Highlights

Houston Real Estate Highlights in April-HAR Report

  • Single-family home sales rose 9.2 percent year-over-year;

  • Days on Market (DOM) for single-family homes went from 56 to 49 days;

  • Total property sales rose 8.7 percent with 9,611 units sold;

  • Total dollar volume was up 13.8 percent to $4 billion;

  • The single-family median price rose 3.0 percent to $340,000;

  • The single-family average price rose 4.6 percent to $437,198; 

  • Single-family home months of inventory registered a 3.7-months supply, up from 2.6 months a year earlier;

  • Townhome/condominium sales continued to decline, falling 1.3 percent, with the median price down 1.8 percent to $230,000 and the average price down 0.5 percent to $278,048.

Houston housing market

HAR Report: Days on Market, or the actual time it took to sell a home, decreased from 56 to 49 days. Months of inventory increased to a 3.7-months supply compared to 2.6 months a year earlier. The current national supply stands at 3.2 months, as reported by NAR.

 

Broken out by housing segment, April sales performed as follows:

  • $1 - $99,999: increased 24.3 percent

  • $100,000 - $149,999: increased 20.9 percent

  • $150,000 - $249,999: increased 2.2 percent

  • $250,000 - $499,999: increased 6.1 percent

  • $500,000 - $999,999: increased 14.0 percent

  • $1M and above: increased 33.8 percent

HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 5,753 in April, up 9.7 percent from the same month last year. The average price rose 6.8 percent to $442,773 and the median sales price rose 6.1 percent to $339,500.

 

Houston single family for sale/rent

Single-Family Homes Update-HAR Report

 

In April, single-family home sales experienced only the fourth increase in the past 12 months, climbing 9.2 percent year-over-year with a total of 7,926 units sold across the Greater Houston area compared to 7,256 in April of last year. The average price rose 4.6 percent to $437,198 while the median price rose 3.0 percent to $340,000. 

Houston housing market Comparison

April Monthly Market Comparison-HAR Report

After a slow start to the spring homebuying season, single-family home sales rebounded in April with sales climbing 9.2 percent year-over-year and inventory reaching the highest levels since before the pandemic in 2019.

 

In addition to the increase in single-family sales volume, total property sales were up 8.7 percent and total dollar volume increased 13.8 percent from $3.5 billion to $4 billion. Single-family pending sales rose 10.3 percent. Active listings, or the total number of available properties, were 32.3 percent ahead of April 2023.

 

Months of inventory expanded from a 2.6-months supply last April to 3.7 months, which is the highest since October 2019 when there was a 3.8-months supply. Housing inventory nationally stands at a 3.2-months supply, according to the latest report from the National Association of Realtors (NAR). A 4.0- to 6.0-month supply is generally considered a “balanced market” in which neither buyer nor seller has an advantage.

Houston housing market

HAR Report: “The spring homebuying season seems to be blossoming later than usual this year,” said HAR Chair Thomas Mouton with Century 21 Exclusive Properties. “While elevated interest rates continue to be a factor, the rebound in April home sales shows buyers are adapting to the new market realities, and sellers are finding opportunities as inventory levels rise.”

 

The average price of a single-family home throughout Greater Houston rose 4.6 percent to $437,198, which is the second highest price behind May 2022 when it reached a record $438,350. The median price increased 3.0 percent to $340,000. 

Houston housing market

HOUSTON/HAR Report — (May 8, 2024) — Warmer weather and a shift in market dynamics brought a welcome change to the Houston housing market in April. While the spring homebuying season initially saw a sluggish start, home sales rebounded and inventory expanded to pre-pandemic levels, offering opportunities for buyers and sellers.

 

According to the Houston Association of Realtors’ (HAR) April 2024 Market Update, single-family home sales across the Greater Houston area rose 9.2 percent. The Houston Multiple Listing Service (MLS) recorded sales of 7,926 units compared to 7,256 in April 2023. Months supply of homes climbed from 2.6 to 3.7, which is the highest since October 2019 when there was a 3.8-months supply.

 

All housing segments saw an increase in sales in April with the high end of the market enjoying the strongest performance. Home sales in the luxury segment ($1 million+), which represents just 4.8 percent of all homes on the market, surged 33.8 percent. HAR will publish its April 2024 Rental Home Update on Wednesday, May 15. 

 

Houston housing market

Houston Real Estate Highlights in February-HAR Report

  • Single-family home sales rose 7.6 percent year-over-year, the third increase in the past year;

  • Days on Market (DOM) for single-family homes went from 64 to 57 days;

  • Total property sales rose 7.0 percent with 7,541 units sold;

  • Total dollar volume was up 11.8 percent to $2.9 billion;

  • The single-family median price rose 3.0 percent to $329,686;

  • The single-family average price rose 4.1 percent to $400,252; 

  • Single-family home months of inventory registered a 3.4-months supply, up from 2.5 months a year earlier;

  • Townhome/condominium sales continue to decline, falling 8.1 percent, with the median price up 8.9 percent to $237,500 and the average price up 5.5 percent to $258,587.