Houston housing sales spring into April

​​​​​HOUSTON – After a sluggish March, the local housing market rebounded in April with its highest average and median prices of all time.

According to the Houston Association of Realtors, the median home price was $240,000 last month, a 5.3 percent increase from April 2017. The average price was $305,092.

Area Realtors sold 7,070 single-family homes, up 6.9 percent from a year earlier. Existing-home sales grew 6.1 year over year in April to 5,813. 

Inventory dropped from 3.8 months in April 2017 to 3.6 months. The Real Estate Center considers a six- to 6.5-months’ supply a ​balanced​​ market. 

Sales for homes priced between $500,000 and $749,999 jumped 28.7 percent year over year, while sales for homes between $100,000 and $149,999 decreased by 21.3 percent. 

In total, over $2.4 billion worth of properties changed hands in the area last month.