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.