Houston home sales Nov. 2014 (HAR)Houston home sales Nov. 2014 (HAR)https://www.recenter.tamu.edu/news/newstalk-texas/?Item=22142014-12-12T08:41:00Z2014-12-12T00:00:00Z

HOUSTON - The Houston real estate market grew in all categories in November, with total property sales, total dollar volume and average and median pricing all up when compared to November 2013.

According to the latest monthly report prepared by the Houston Association of Realtors (HAR), single-family home sales totaled 5,092 units, an increase of 1.8 percent compared to November 2013.

Months of inventory, the estimated time it would take to deplete the current active housing inventory based on the previous 12 months of sales, dipped to a 2.7-months supply versus a 2.9-months supply last November.

Houston Real Estate Milestones in November

    Single-family home sales rose 1.8 percent versus November 2013;
    Total property sales were up 2.8 percent year-over year;
    Total dollar volume increased 12.3 percent, from $1.4 billion to $1.6 billion on a year-over-year basis;
    At $194,800, the single-family home median price achieved a record high for a November;
    At $271,232, the single-family home average price also reached a November high;
    Days on Market for single-family homes was 54 days;
    Rentals of single-family homes rose 4.2 percent year-over-year and the cost of renting those homes increased 5.0 percent to $1,669.
    Townhouse/condominium rentals climbed 5.7 percent, with rents up 3.6 percent at $1,520.

Housing Market Summary: Nov. 2013 vs. Nov. 2014
  Nov. 2013 Nov. 2014 Chg.
Total sales 6,044 6,212 2.8%
Total dollar volume $1,430,952,766 $1,606,455,376 12.3%
Total active listings 30,341 27,374 -9.8%
Total pending sales 3,273 3,404 4.0%
Single-family sales 5,000 5,092 1.8%
Avg. price single-family home $245,933 $271,232 10.3%
Median price single-family home $182,500 $194,800 6.7%
Single-family inventory* 2.9 2.7 -7.3%

* The number of months it will take to deplete current active inventory based on the prior 12 months of sales activity. The market is considered evenly balanced between supply and demand when it has a six-month inventory.

Source: Houston Association of Realtors

Also see 'Housing' under Houston Market Data Sources.

Houston Association of Realtors
Houston-The Woodlands-Sugar Land
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