Houston Housing Stats May, 2022

[Sharon Tzib]

https://www.har.com/content/newsroom?pid=1859

Houston Real Estate Highlights in May:

• -Single-family home sales declined 0.9 percent year-over-year;
• -Days on Market (DOM) for single-family homes dropped from 35 to 29;
• -The ‘Close to Original List Price Ratio’ for single-family homes reached 100.9 percent — the highest ever as a majority of buyers paid above list price for homes on the market;
• -Total property sales were down 1.0 percent with 11,980 units sold;
• -Total dollar volume increased 12.0 percent to $4.9 billion;
• -The single-family average price rose 14.3 percent to $440,670, the highest of all time, and the third time that pricing has exceeded $400,000;
• -The single-family median price increased 16.0 percent to $351,000 – also a record;
• -Single-family home months of inventory registered a 1.6-months supply, up from 1.3 months a year earlier. That is the greatest supply since October 2021;
• -Townhome/condominium sales edged up 0.4 percent with the average price up 14.4 percent to $272,381 and the median price up 8.8 percent to $229,000.