HOUSTON HOME SALES SIZZLE IN AUGUST

Dated: 09/11/2019

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Electric bills hit all time highs in August but so did home sales.  August sales of single-family homes throughout greater Houston totaled 8,679. That is up 3.9 percent year-over-year and marks the second largest one-month sales volume of all time; the record of 8,930 was set just last month. On a year-to-date basis, home sales are running 3.1 percent ahead of 201’s record volume.

Homes in the $250,000 to $500,000 range scored the greatest sales gains, up 14.7 percent compared to August 2018. Next were homes in the $500,000 to $750,000 range, which rose 7.0 percent. The luxury segment, which encompasses homes priced from $750,000 and up, fell 3.0 percent.

The median price of a single-family home (the figure at which half of the homes sold for more and half sold for less) reached the highest level ever for an August, climbing 4.5 percent to $249,000. The average price also achieved an August record, rising 3.4 percent to $310,409.

Housing inventory still remains ahead of 2018 levels. It reached a 4.2-months supply in August compared to 4.0 months a year earlier.

Home prices climbed to the highest levels ever for an August. The median price was $249,000, up 4.5 percent from August 2018. The average price rose 3.4 percent to $310,409.

 

 source: Houston Association of Realtors

 

 

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Dwight Cook

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HOUSTON HOME SALES SIZZLE IN AUGUST

Electric bills hit all time highs in August but so did home sales.  August sales of single-family homes throughout greater Houston totaled 8,679. That is up 3.9 percent year-over-year and marks

Read More