Luxury homes boost Houston housing market
HOUSTON – Houston home sales reached new highs in June as a surge in luxury sales pushed prices to record levels.
According to the Houston Association of Realtors, the area median home price rose 20 percent since January to $313,500. The average price rose 23.7 percent to $395,316.
Local single-family home sales rose for the 13th straight month to 10,638 sales last month, up 13.6 percent from June 2020’s level of 9,362 homes.
Sales of homes in the $500,000 to $749,999 range accounted for almost 20 percent of sales, almost double its share last year.
The volume of sales for homes priced from $750,000 and above increased by 137 percent.
The average time on market fell to its lowest level at just 29 days in June 2021, down from 57 days in June 2020.
The Texas Real Estate Research Center has more information on housing:You might also like
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