Houston Area Home Prices Continue to Rise

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Houston Area Home Prices Continue to Rise

Sales numbers from the Houston Association of Realtors (HAR) are out for August 2015. Check out the press release. A few highlights, the median sales price (the figure where half of homes sold for more, half sold for less) rose 4.9% year over year to $215,100. The average sale price rose nearly 3% to $282,233.  This means prices are still strong for the Houston area. The number of property sales has seems to have finally stabilized, with the total property sales and total single-family home sales basically the same as August 2014. Months of inventory have increased year over year by half a month to 3.5 months. This is still well under the national average of 4.8 months of inventory. Take a look at some of these figures in the table below. More comprehensive information broken out by market segments or category is available by request.

CATEGORIES AUGUST 2014 AUGUST 2015 CHANGE
Total property sales 8,838 8,836 0.0%
Total dollar volume $2,293,946,040 $2,354,729,681 2.6%
Total active listings 29,574 34,089 15.3%
Single-family home sales 7,407 7,454 0.6%
Single-family average sales price $274,302 $282,233 2.9%
Single-family median sales price $205,000 $215,100 4.9%
Single-family months inventory 3.0 3.5 18.4%
Single-family pending sales 7,525 7,413 -1.5%
By | 2017-03-13T15:54:53+00:00 September 10th, 2015|Uncategorized|Comments Off on Houston Area Home Prices Continue to Rise