Houston sells 7,704 homes, breaks all time record
HOUSTON – Home sales rose 23.3 percent year-over-year, with contracts closing on 7,704 single-family homes, the highest one-month sales volume of all time.
Housing inventory ticked up from the 3.3-month supply recorded in June 2013 to 3.4 months, although that is down compared to the 5.3 months of supply in July 2012 and 3.6 months at the beginning of 2013.
The median price of a single-family home rose 10.5 percent to $187,760. The average price increased 13.6 percent year-over-year to $260,968. That falls just shy of the June 2013 record high average price of $266,351. Both average and median prices represent the highest ever seen in a July in Houston.
| July 2012 | July 2013 | Change | |
| Home sales | 6,248 | 7,704 | 23.3% |
| Average sales price | $229,809 | $260,968 | 13.6% |
| Median sales price | $169,920 | $187,760 | 10.5% |
| Months inventory* | 5.3 | 3.4 | -36.5% |
*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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