Market Performance in Houston in June 2021 - Houston Housing Market
Excerpted HAR.com "HOUSTON’S REAL ESTATE BUYING BLITZ PERSISTS IN JUNE" from July 14, 2021:
Overall observation, HAR "Consumers continue to snap up homes despite tight inventory and record prices"New historic record highs for single-family home sales in Houston continue with buyers taking advantage of the still low-interest rates in the midst of a record low inventory. In year over year, though, the buying pace was slightly slower.
Dominating sales volume, however, were homes priced $750,000+ followed by the $500,000-$750,000 price range.
Total dollar volume for June also was a record-setting $4.8 billion with sales of all property types (single-family, condos, townhomes, etc.) totaling 13,090—the greatest volume of all time.
HAR Market Report Highlights in June (excerpts)
- Single-family home sales in the Houston market increased, up 13.6 percent year-over-year;
- Average Days on Market (DOM) for single-family homes fell to 29 from 57;
- Highest volume of property sales in history-13,090 sold; $4.8 billion total dollar volume, an increase of 43.8 percent - another historic high;
- Single-family average price increased 23.7 percent to $395,316—a new record high;
- Another record high - single-family median price rose 20.0 percent to $314,500;
- Inventory for single-family homes, registered a 1.5-months supply, below national inventory of 2.5 months;
- Single-family home sales are 25.9 percent ahead of 2020;
Just Ask Matt about HomeBuyer Representation
In a heavy seller's market, it is highly desirable for buyers to have professional representation. An Accredited Buyer’s Representative (ABR®) is an asset to the homebuying process. Just Ask Matt and one of our team ABA designated Buyers' Agents will take you step-by-step through the buying process in this frenzied market. We will work with you to find the home that meets your family's needs, your financial goals, and future investment opportunities.
A little-known tidbit, especially for first-time homebuyers is that generally, it is the seller who pays a buyer's agent commission, not the buyer. A good real estate agent will always work with you as your buyer's representative to be sure you are getting the most for your hard-earned dollars.
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