THE HOUSTON HOUSING MARKET SHOWS NO LETUP IN SEPTEMBER

4 Replies | Houston, Texas

  • Single-family home sales jumped 9.5 percent year-over-year, with 7,035 units sold – the second biggest one-month sales volume of 2019;
  • On a year-to-date basis, single-family home sales are running 3.8 percent ahead of 2018’s record pace;
  • Days on Market (DOM) for single-family homes edged up from 53 to 55 days;
  • Total property sales increased 9.5 percent, with 8,430 units sold;
  • Total dollar volume shot up 10.8 percent to $2.4 billion;
  • The single-family home median price rose 4.7 percent to $244,000, achieving a September high;
  • The single-family home average price was up 1.5 percent to $298,947 – also a record high for a September;
  • Single-family homes months of inventory reached a 4.1-months supply, up from 4.0 months last September and slightly below the 4.3-months supply maintained in June and July. For comparison, the national housing inventory is also at a 4.1-months supply, according to NAR;
  • Townhome/condominium sales rose 8.2 percent year-over-year, with 538 units sold. The average price rose 3.5 percent to $200,728 while the median price rose 6.3 percent to $170,000;
  • Single-family home leases increased 6.9 percent with the average rent up 1.5 percent to $1,838;
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@Jeffrey D.

Lease properties staged another strong month in September. Single-family home leases jumped 6.9 percent while leases of townhomes and condominiums rose 1.7 percent. The average rent for single-family homes was up 1.5 percent at $1,838 while the average rent for townhomes and condominiums was unchanged at $1,589.