News & Updates

Houston Real Estate Market Sets Record

Houston MLS Report 2017

Temperatures weren’t the only thing soaring in June, as home prices and sales volume reached new heights, keeping 2017 on track to be a record year for Houston real estate.

A total of 8,414 single-family homes sold in June compared to 7,771 a year earlier, according to the latest monthly report produced by the Houston Association of Realtors (HAR). That represents an 8.3 percent increase and marks the largest one-month sales volume in history. On a year-to-date basis, home sales remain ahead of 2016’s volume by 7.4 percent. New listings pushed inventory levels from a 3.9-months supply to 4.4 months, the highest in almost five years.

“June proved to be another phenomenal month for the Houston real estate market with buyers and renters sending volume and pricing into record territory,” said HAR Chair Cindy Hamann. “Between continued strong employment numbers and healthy housing inventory levels, we expect the market to remain vibrant.”

The single-family home median price (the figure at which half of the homes sold for more and half sold for less) climbed 2.6 percent to $239,023. The average price edged up 1.5 percent to $304,155. Both figures are all-time highs.

June sales of all property types in Houston totaled 9,993, up 8.3 percent from the same month last year. Total dollar volume for properties sold in June rose 10.4 percent to $2.9 billion.