Houston MLS: June home sale reboundHouston MLS: June home sale reboundhttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=36522014-07-10T07:55:00Z2014-07-10T07:15:00Z

HOUSTON - The housing market experienced solid gains in total property sales, total dollar volume, average pricing and median pricing when compared to June 2013, according to Houston Association of Realtors (HAR).

June 2014 sales of all property types totaled 9,099 units, a 5.3 percent increase compared to June 2013. Total dollar volume for properties sold rose 12.9 percent to $2.4 billion versus $2.2 billion a year earlier.

The average price of a single-family home jumped 6.6 percent year-over-year to $283,697. The median price increased 11.3 percent to $214,000. Both are historic highs for Houston.

Days on Market — the number of days a home takes to sell — reached 46, the lowest level of all time.

June townhouse and condominium sales climbed 11.5 percent from one year earlier. A total of 680 units sold in June 2014 compared to 610 properties in June 2013.

Single-family home rentals shot up 18.6 percent compared to June 2013 while year-over-year townhouse/condominium rentals rose 7.5 percent.

Housing Market Summary: June 2014 vs. June 2013
Total sales 8,638 9,099 5.3%
Total dollar volume $2,170,941,948 $2,451,878,131 12.9%
Total active listings 32,518 29,513 -9.2%
Total pending sales 4,416 4,611 4.4%
Single-family sales 7,227 7,553 4.5%
Avg. price single-family home $266,017 $283,697 6.6%
Median price single-family home $192,320 $214,000 11.3%
Single-family inventory* 3.3 2.9 -12.2%

* 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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