Houston Real Estate Market Report April 2017
Another great month for real estate in Houston! The Houston Association of Realtors just released the MLS Report for April 2017. The report showed another positive gains in single-family home sales, pricing, and housing inventory. Rental properties also experienced another strong month with solid consumer demand among single-family and townhome/condo properties.
According to the report, single family home sales increased 3.1% for a total of 6,583 homes sold in April compared to 6,387 the previous year. The median price for single-family homes rose to $228,000 from $218,000, a 4.6% increase year-over-year-the highest median price ever for an April. Another April high was the average price, which jumped 4.7% to $291,770 from $278,658 in April 2016. The report also stated that the number of active listings soared 13.5% from April 2016 to 39,567 total active listings for April 2017.
Townhome and condominium sales showed a 3.8% rise in sales, with 599 units sold compared to 577 the year before. While the average price did decline 0.6% to $207,527, the median price did rise 8.5% to $171,500.
The lease market had a 14.6% jump in single-family home leases and a 5.9% rise in townhome and condominium leases. The average rent for both single family and townhome/condominium leases dropped 4.9% and 1.1%, respectively.