Houston Housing Stats February 2018

[Sharon Tzib]

https://www.har.com/content/newsroom/

Highlights:

• Single-family home sales rose 5.3 percent year-over-year, with 5,260 units sold;
• Days on Market (DOM) for single-family homes decreased slightly from 67 days in February 2017 to 65 days this February;
• Total property sales increased 3.1 percent with 6,375 units sold;
• Total dollar volume climbed 4.5 percent to $1.7 billion;
• The single-family home median price rose 1.4 percent to $226,200, which represents a February high;
• The single-family home average price edged up 0.4 percent to a February high of $281,945;
• Single-family homes months of inventory shrank year-over-year from a 3.4-months supply to 3.2 months;
• Townhome/condominium sales fell 5.1 percent, with the average price up 2.0 percent to $210,887 and the median price up 4.6 percent to $170,000;
• Leases of single-family homes fell 11.5 percent with the average rent up 4.1 percent to $1,720;
• Volume of townhome/condominium leases dropped 11.5 percent with average rent up 2.2 percent to $1,515.