New Records Set for Houston Real Estate Market in June 2017
Home prices and sales volume set new records last month according to the MLS Report just released by the Houston Association of Realtors, keeping 2017 on track to be a record year for Houston real estate. These gains are keeping the market on track to be a record year for real estate in Houston.
According to the report, there was an 8.3% increase in single-family homes sold this past June compared to the same time frame last year, for a total of 8,414 single-family homes sold, which represents the largest one-month sales volume in history. The median and average home prices both saw historic highs in June as well. There was a 2.6% rise in median home price to $239,023 and a 1.5% increase in average price to $304,155. June sales of all property types jumped 8.3% to 9,993 sales year-over-year.
Townhome and condominium sales increased 1.2% with a total of 678 units sold. The average price rose 7.6% to $215,713, and a 3.6% rise in median price to $171,000 when compared to June of last year.
Houston’s lease market continued it’s climb this past month as well. Single-family home leases surged 17.4% and townhome/condominium leases saw a 21.3% hike. Single-family homes average rent delcined 4.0% to $1,806, while the townhomes/condominiums average rent increased 2.5% to $1,698.