- After a slow August, Houston housing market kept pace with last year’s record sales volume and prices throughout September.
- Homes between 150k and 500k saw moderate gains, while low and high ends of the market declined.
- 5% YoY increase in sales over September 2014. Average home took 49 days to sell versus 48 last year.
- ‘Months of Inventory’ is representative of how long it would take to deplete the current inventory of homes based on how fast homes sold in the past 12 months. Houston remains a faster market than the rest of the country with a local 3.5 months of supply versus a national 5.2 months.
Single Family Homes
- Total Homes Sold in September 2015 – 6,691. Up 3.5% from last year.
- Record high average price, up .5% from last year. Set at $270,901.
- Median Price, price at which half of sales sold above or below, jumped 4.5% to $208,000.
- Sales fell 4.5% in September.
- 599 Units sold vs. 627 a year earlier.
- Average price rose 4.5% to $207,119.
- Months of inventory rose from 2.5 months to 3.2 months.
Lease Property Update
- Average rent for a single-family home rose 2.3% to $1,792.
- Average rent for a townhouse/condominium remained flat at $1,533.
What does it all mean?
- We’re seeing a relatively strong market for this time of year.
- As a comparison, September 2014 was a record sales year, and seeing this year’s numbers surpassing them in the wake of energy-related layoffs, the Houston housing market appears to be very resilient.
- If you were hesitant to sell because you thought the market had cooled, it might be time to think again!
Are you interested in selling your home or know someone who is? Find out why hundreds of folks like you have trusted the sale of your home to seasoned professionals like Diane Kink and her team. Give us a call today, we’d be happy to break down the market in your neighborhood to give you a proven strategy to sell your home.
Click Here to view the full report as generated by the Houston Association of Realtors.
The Kink Team is a family-owned real estate business, and is just part of the reason why so much care and attention is emphasized with each and every client. The Kink Team is recognized as one of the top producing real estate teams in North America and is highly awarded within the industry. Let us go to work for you. Contact us today.