APRIL MARKS ANOTHER POSITIVE MONTH FOR HOUSTON HOME SALES
The following information concerning Houston home sales is sourced from The Houston Association of Realtors. A link to the full press release is at the end of this post
Increased inventory helps prime the market for summer demand
HOUSTON — (May 10, 2017) — Consumers kept Houston home sales humming in April, with single-family home sales and pricing experiencing another month of gains and housing inventory reaching the highest level since last August.
The strongest growth in sales activity took place among homes priced from $750,000 and above (considered the luxury market), followed by homes in the $250,000 to $499,999 range. For the luxury market, which took the brunt of the energy slump, April marked a sixth consecutive month of rising sales.
A total of 6,583 single-family homes sold in April versus 6,387 a year earlier, according to the latest monthly report produced by the Houston Association of Realtors (HAR). That represents a 3.1 percent increase. New listings buoyed inventory levels from a 3.6-months supply to 4.0 months.
The single-family home median price (the figure at which half of the homes sold for more and half sold for less) climbed 4.6 percent to $228,000. That marks the highest median price ever for an April. The average price rose 4.7 percent to $291,770, which also represents an April high.
April sales of all property types in Houston totaled 8,014, up 4.2 percent from the same month last year. Total dollar volume for properties sold in April increased 8.1 percent to $2.2 billion.