Houston Real Estate Market Report February 2017

Houston Real Estate Market Report February 2017

The latest MLS Report released by the Houston Association of realtors showed positive gains for the second month of 2017 in both single-family home sales and pricing. The report stated there was a 4.0% increase in single-family home sold, with a total of 4,933 sold in February compared to 4,743 the year before.

 

The single-family home median price rose 7.3% to $220,000, marking the highest median price ever for a February. The average price rose 6.7% to $280,175, another February high. There were 6,111 properties of all types sold in February, up 7.1% from the same month last year.

 

Townhome and condominium sales jumped 17.1% year over year, with 486 units sold compared to 415 in February 2016. The average price also increased 0.8% to $204, 397 and the median price jumped 8.0% to $162,000.

 

The lease market also held strong in February 2017. Single-family home leases rose 8.5%, although average rent for single-family homes declined 2.1% to $1,652.