HAR: Home sales blossom in Aug. 2013
HOUSTON – Single-family home sales increased 16.2 percent in August 2013 compared with August 2012, according to Houston Association of Realtors (HAR). August accounted for the 27th consecutive month of positive sales.
Following July’s small uptick in home inventory, buyers once again outpaced sellers in August, sending months of inventory from 3.4 to 3.3 months versus 4.9 months at the same time in 2012.
Contracts closed on 7,504 single-family homes. The median price of a single-family home rose 12.8 percent to $186,200, an all-time record high for an August in Houston. The average price rose 16.4 percent year-over-year to $260,607, also a high for August in Houston.
| Aug. 2012 | Aug. 2013 | Change | |
| Home sales | 6,457 | 7,504 | 16.2% |
| Average sales price | $223,858 | $260,607 | 16.4% |
| Median sales price | $165,000 | $186,200 | 12.8% |
| Months inventory* | 4.9 | 3.3 | -33.7% |
*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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