Houston home sales Oct. 2014 (HAR)Houston home sales Oct. 2014 (HAR)https://www.recenter.tamu.edu/news/newstalk-texas/?Item=24422014-11-17T14:27:00Z2014-11-17T07:30:00Z

HOUSTON - According to the latest monthly report prepared by the Houston Association of Realtors (HAR), October delivered across-the-board gains with total property sales, total dollar volume and average and median pricing all up when compared to October 2013.

Home prices climbed to record highs for an October, and the number of days it took a home took to sell was 51 versus 57 last October. In July 2014, it reached a record low of 45 days.

Sales of townhouses and condominiums jumped 12.4 percent with a total of 634 units sold in October 2014 compared to 564 properties in October 2013. The average price increased 3.1 percent to $193,635 and the median price shot up 9.9 percent to $147,750.

Single-family home rentals climbed 13.1 percent compared to October 2013, while year-over-year townhouse/condominium rentals were unchanged.

The average rent for a single-family home was up 4.0 percent to $1,711 and the average rent for a townhouse/condominium was up 8.5 percent at $1,592.

Housing Market Summary: Oct. 2014 vs. Oct. 2013
  Oct. 2013 Oct. 2014 Chg.
Total sales 7,182 8,106 12.9%
Total dollar volume $1,650,628,141 $2,016,260,648 22.2%
Total active listings 31,638 28,333 -10.4%
Total pending sales 3,995 4,355 9.0%
Single-family sales 5,912 6,639 12.3%
Avg. price single-family home $238,525 $262,013 9.8%
Median price single-family home $177,330 $192,000 8.3%
Single-family inventory* 3.1 2.8 -10.1%

* 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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