HAR: Homes sales soar, inventory shrinks
HOUSTON – September sped its way into the history books as the 28th consecutive month of positive home sales, and there still is no let-up in sight. Single-family home sales increased 23.5 percent in September 2013 compared with September 2012, according to Houston Association of Realtors (HAR).
The pace of home buying drove months of inventory down to 3.2 months compared to 4.7 months in September 2012.
Contracts closed on 6,168 single-family homes. The median price of a single-family home rose 10.2 percent to $181,750. The average price increased 13.1 percent year-over-year to $248,256. Both figures represent the highest prices for a September in Houston.
| Sept. 2012 | Sept. 2013 | Change | |
| Home sales | 4,995 | 6,168 | 23.5% |
| Average sales price | $219,480 | $248,256 | 13.1% |
| Median sales price | $164,800 | $181,570 | 10.2% |
| Months inventory* | 4.7 | 3.2 | -32.0% |
*Months inventory estimates the number of months it will take to deplete current active inventory based on the prior 12 months sales activity. This figure is representative of the single-family homes market.
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