October Houston housing market analysis

Houston Real Estate Highlights in October

• Single-family home sales increased 12.8 percent year-over-year; • Days on Market (DOM) for single-family homes went from 48 to 51 days;
• Total property sales were up 10.2 percent with 8,627 units sold;
• Total dollar volume rose 19.5 percent to $3.5 billion;
• The single-family median price was up 2.7 percent to $334,900;
• The single-family average price climbed 5.2 percent to $423,166;
• Single-family home months of inventory registered a 4.4-months supply, up from 3.5 months last October.
• Townhome/condominium sales increased for the first time in two years, with sales up 6.5 percent year-over-year. The median price declined 3.2 percent to $232,400, and the average price rose 2.6 percent to $279,018.
• Broken out by housing segment, October sales performed as follows:
• $1 – $99,999: increased 4.5 percent

HAR also breaks out sales figures for existing single-family homes. In October, existing home sales totaled 5,163, which is up 14.7 percent compared to the same time last year. The average price rose 6.0 percent year-over-year to $429,778, and the median sales price increased 4.1 percent to $330,000.

• $100,000 – $149,999: decreased 7.3 percent
• $150,000 – $249,999: increased 16.1 percent
• $250,000 – $499,999: increased 7.9 percent
• $500,000 – $999,999: increased 25.9 percent
• $1M and above: increased 33.8 percent