Houston home sales jump 9.5 percent YOY

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HOUSTON – Local single-family home sales jumped 9.5 percent year over year​ to 7,035 units sold in September, making last month the second largest one-month sales volume this year, according to the Houston Association of Realtors (HAR). 

On a year-to-date basis, home sales are running 3.8 percent ahead of 2018’s record volume.

The median price of a single-family home reached the highest level ever for a September, climbing 4.7 percent to $244,000. The average price also achieved a September record, rising 1.5 percent to $298,947.

Single-family pending sales grew 18.9 percent to 7,285.​ 

Housing inventory edged up to a 4.1-month supply, 0.1 month ahead of last year. The Real Estate Center considers a six- to 6.5-month supply a balanced market. 

Single-family home leases increased 6.9 percent with the average rent up 1.5 percent to $1,838.

"I cannot recall a fall in Houston when home sales and rentals were quite this brisk," said HAR Chair Shannon Cobb Evans. "Historically low interest rates and a strong overall local economy have drawn more buyers than usual to the market and kept Realtors like myself extremely busy. We remain on track for another record year."

Sales for all property types increased 9.5 percent, with 8,430 units sold. Total dollar volume shot up 10.8 percent to $2.4 billion. Active listings rose 7.3 percent to 44,172 listings.

The Real Estate Center has more information on housing:​