Houston Real Estate Market Trends – January 2017
The Houston housing market carried its positive momentum from 2016 into the new year, with single-family home sales and pricing both on the rise in January. Homes priced between $500,000 and $750,000 showed the strongest sales activity, and the luxury market ($750,000 and above) enjoyed its third consecutive month in the black, reflecting resistance to any lingering effects of the ailing energy industry.
Single-family home sales in January reached a total of 4.080 sales – 1.7% higher than in January 2016. Inventory raised to 3.5 months, but is still under the avarage Housing inventory across the U.S.
Houston Real Estate Highlights for January 2017
• Single-family home sales rose 1.7 percent with 4,080 units sold;
• Total property sales edged up 0.9 percent with 4,997 units sold;
• Total dollar volume jumped 6.2 percent to $1.3 billion;
• At $210,000, the single-family home median price rose 4.0 percent to a January high;
• The single-family home average price climbed 5.3 percent to $275,696, which was also the highest level for a January;
• Single-family homes months of inventory climbed to a 3.5-months supply;
Broken out by housing segment, January sales performed as follows compared to last year:
It's only fair to share...