Houston Real Estate Market Report July 2017
The Houston Association of Realtors just released their MLS Report for July 2017. According to the latest monthly report, Houston home sales rose for the 10th consecutive month, with prices starting to shows signs of moderation. Homes priced $750,000 and above showed the highest gains in sales volume, followed by those homes priced between $150,000 to $249,999. Overall, the market held strong in July, but there was definitely some slowing in sales in the outlying areas.
The report stated that there was a 5.0% increase in single-family homes sold in July, with a total of 7,440 single-family homes versus 7,083 the year prior. Additionally, 2017’s home sales volume was 6.8% ahead of 2016’s volume. The single-family home median price remain unchanged at $230,000, but the average price rose modestly to $299,131, a 2.4% increase from July 2016.
Townhome and condominium sales decreased 9.0% in July to a total of 576 units sold. The average price showed modest gains to $201,148, a 1.8% increase, while the median price declined to $150,000, a 6.2% decrease.
Single-family home leases leaped 15.6% while townhome and condominium leases jumped 12.3%. The average rent for single-family homes decreased to $1,815, a 3.2% decline, while the average rent for townhomes and condominiums dropped 5.1% to $1,546.
If you are in the market to buy or rent a home in the Brazoria County, Lake Jackson or Houston areas, be sure to contact TCP Real Estate today! Our team of experienced and knowledgeable agents have lived and worked in Brazoria County/Lake Jackson for decades. They know the area, they know the people, they know the real estate market. Whether looking to buy or sell, we have the expertise, proven track record and resources to help! Don’t go it alone, Taking Care of People is our Business, Let us Take Care of You!