CORONAVIRUS SHOWS LITTLE MEASURABLE EFFECT ON HOUSTON’S MARCH

[Jhoana Olarte]

• Single-family home sales rose 8.2 percent year-over-year, with 7,566 units sold, marking the ninth consecutive month of positive sales;
• The Days on Market (DOM) figure for single-family homes was unchanged at 65 days;
• Total property sales rose 6.9 percent, with 8,965 units sold;
• Total dollar volume jumped 11.0 percent to more than $2.6 billion;
• The single-family home median price rose 4.1 percent to $249,900, reaching a March high;
• The single-family home average price climbed 3.8 percent to a March high of $309,785;
• Single-family homes months of inventory was at a 3.5-months supply, down from 3.8 months last March but above the national inventory level of 3.1 months;
• Townhome/condominium sales declined 0.5 percent, with the average price up 6.0 percent to $224,038 and the median price up 4.6 percent to $183,000;
• Lease properties experienced a mixed performance, as single-family home rentals increased 1.2 percent with the average rent up 2.4 percent to $1,788;
• Volume of townhome/condominium leases fell 9.7 percent with the average rent up 4.2 percent to $1,604.