The Houston Real Estate Market is HOT right now.
September 18th, 2012
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Last month, not only did the number of homes sold in Houston go up, but also the price of these homes. Here the highlights from August sales, in a report released to the media today from the Houston Association of Realtors:
Houston Real Estate Milestones in August
- Single-family home sales rose 20.0 percent year-over-year, accounting for the market's 15th consecutive monthly increase. That marks the steepest one-month sales volume gain since August 2007;
- At $224,464, the single-family home average price reached the highest level for an August in Houston (up 4% since August 2011);
- At $165,000, the single-family home median price also reached an historic high for an August in Houston;
- 4.9 months inventory of single-family homes is the lowest level in more than 10 years and compares favorably to the national average of 6.4 months.
- Sales of townhouses/condominiums climbed 28.8 percent year-over-year;
- Single-family home rentals rose 10.5 percent compared to August 2011, while rentals of townhouses/condominiums edged up 2.7 percent.
And, if you're wondering, the August average rent for a single-family home was $1,655 and it was $1,368 for a townhouse/condominium.
The Houston market is HOT!
Disclaimer : The views and opinions expressed in this blog are those of the author and do not necessarily reflect the official policy or position of the Houston Association of REALTORS®
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