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Susan Annoura

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Houston's Real Estate Market Update- June 2013

July 18th, 2013



Figures released today from the Houston Association of Realtors has Houston home sales continuing their upward trend.  Sales for June jumped 13.4%, year over year.  7,220 homes closed in June 2013 in Houston, which is the third highest one month volume in Houston history.

The supply of homes is now at 3.3 months (same as the month before) but much lower than the 5.5 months of supply in June 2012.

As for prices, the median price of a single family home- rose 12.9% to $192,000 over last June, and the average sold price rose 13.8% to $250,000.  Both figures are all time highs.

For rental rates, Houston went up and hit new records as well.  At an average $1707/month, rent for a single family home hit an all time high.  For townhomes and condos, the average for June 2013 was $1498, which was also a new record.  Great for investors who can now enjoy even better returns!

Here are the milestones for June 2013:

Houston Real Estate Milestones in June
  • Single-family home sales increased 13.4 percent year-over-year, accounting for the market’s 25th consecutive monthly increase and the second largest one-month sales volume of the year and the third largest of all time;
  • Total property sales also rose 14.5 percent compared to one year earlier;
  • Total dollar volume jumped 28.5 percent, increasing from $1.7 billion to $2.2 billion on a year-over-year basis;
  • At $192,000, the single-family home median price reached an historic high for Houston;
  • At $268,085, the single-family home average price also reached the all-time highest level;
  • 3.3 months inventory of single-family homes is unchanged from May 2013, but down from 5.5 months in June 2012 and compares to the national average of 5.1 months;
  • Sales of townhouses/condominiums rose 10.2 percent year-over-year.
  • Rents for single-family homes and townhouse/condominium units reached record highs.

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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Annoura Realty Group, LLC
9805 Katy Freeway Ste 850, Houston, TX 77024   Get Directions
Phone: (832) 725-7880
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