HAR Houston Housing Market July 2021

HAR Houston Housing Market July 2021

NO LET-UP IN JULY, DESPITE WHAT THE NUMBERS SAY
Excerpt HAR.com newsroom.

Houston Real Estate Housing Market News Highlights July

• 6.1 percent decline ended the Single-family home sales 13-month positive run: 10,159 homes sold July 2021 versus 10,822 in July 2020.
• Days on Market (DOM) for single-family homes decreased to 26 from 56;
• Total property unit sales of 12,383 decline of 3.7 percent;
• Total dollar volume$4.5 billion an increase of 11.4 percent;
• Single-family average price increased 15.3 percent to $389,197; the second highest level of all time;
• Single-family median price was the second highest median price of all time, rising 13.9 percent to $309,910;
• Single-family homes months of inventory in Houston registered a 1.8-months supply, which is below the current national average of 2.6 months and down from 2.9 months year-over-year;
• Year-to-date basis, however, single-family homes sales are 19.1 percent ahead of 2020’s.
• Townhome/condominium sales jumped 23.9 percent with an average price of $245,160 and the median price up 8.7 percent at $200,000;
• Single-family home rentals fell 20.1 percent and the average rent is up 11.4 percent to a record high of $2,162;
• Townhome/condominium leases also dropped 10.8 percent with an average rent of $1,756 up 5.8 percent.

Overall, the Houston housing market was up 13.9 percent. On a year-to-date basis, local home sales currently exceed 2020’s record pace by 19.1 percent.

Homes priced from $750,000 and above continue to lead the way in sales volume with a 36.7 percent year-over-year (YoY) increase.

Read the full report for the latest Houston Market Performance at HAR Newsroom.