Houston Housing Market Update October 2016
According to the latest monthly report from the Houston Association of Realtors (HAR), a total of 5,916 single-family homes sold in October compared to 5,893 in 2015. On a year-to-date basis, home sales are up 1.2 percent compared to this point in 2015. Inventory levels grew slightly from a 3.5-months supply to 3.8 months.
The single-family home median price rose 6.3 percent to $218,000, which marks the highest median price ever for an October. The average price increased 2.2 percent to $277,904, another October high. October sales of all property types in Houston totaled 7,120, up 0.7% from the same month last year.
Houston Real Estate Milestones in October 2016
- Single-family home sales were statistically unchanged with 5,916 units sold;
- On a year-to-date basis, single-family home sales were up 1.2 percent;
- Total property sales rose 0.7 percent to 7,120 units;
- Total dollar volume increased 1.4 percent to $1.9 billion;
- At $218,000, the single-family home median price rose 6.3 percent to an October high;
- The single-family home average price increased 2.2 percent to $277,904, which was also the highest level for an October;
- Single-family homes months of inventory climbed to a 3.8-months supply;