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Houston Home Sales Up in May Versus Last Year
Houston Home Sales Up 5.4% in May
Home sales rose more than 5.4% in May with pending sales rocketing up 19.8%. With a more affordable median home price than Dallas or Austin, Houston may weather the trend of declining home prices better than most major Texas metros. Speaking of, the average sales price declined by 0.7 percent to $438,230 while the median price declined 1.2 percent to $339,425.
Active listings for single-family homes reached 37,455 in May, which is up 35.0 percent compared to last May. This volume represents the highest level of active listings since September 2007, when 37,500 units were on the market.
Available homes for sale also rose, up to a 5.2-months supply compared to 3.9 months of supply last May. This marks the highest level since July 2012. Nationwide, the average is 4.4 months of supply according to the National Association of Realtors.
Home sales in the Houston area performed as follows by specific price categories:
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- $1 – $99,999: increased 23.8 percent
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- $100,000 – $149,999: increased 18.6 percent
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- $150,000 – $249,999: increased 12.0 percent
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- $250,000 – $499,999: increased 5.7 percent
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- $500,000 – $999,999: increased 0.2 percent
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- $1M and above: increased 6.3 percent
Houston Residential Pending Sales Jump In April 2025.
Houston Pending Home Sales Up In April.
Despite homes sales declining 1.1% versus a year ago, the future looks brighter as pending home sales in Houston jumped a healthy 13.6% versus a year ago. Anecdotally, it does feel like the phones are ringing a bit more. You also have to keep in mind that 2024 was the lowest number of nationwide home sales in almost 30 years, and 2023 was only marginally better. In other words, there has to be a lot of pent-up demand building when you have two plus years of anemic economic growth in the real estate market. Let’s hope we’ve finally turned the corner. Stay tuned!
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Houston Home Sales Cool in February
Houston Home Sales Cool in February.
Was it the cold weather that cooled Houston home sales in February? Time will tell. Total property sales in greater Houston declined 4.7% versus February 2024. Dollar volume decreased .6%. Active listings are up 26.7% annually. Single family homes for sale inventory rose to 4.4 months supply compared to 3.3 months of supply in 2024. The good news is that pending single family home sales rose 5.8% over last year.
Condos and townhome sales declined a whopping 21.9%. The inventory of townhomes and condominiums for sale expanded to 6.2-months, the highest level since June 2012.
Home sales by price category –
- $1 – $99,999: decreased 23.7 percent
- $100,000 – $149,999: decreased 6.9 percent
- $150,000 – $249,999: increased 2.0 percent
- $250,000 – $499,999: decreased 3.0 percent
- $500,000 – $999,999: decreased 5.6 percent
- $1M and above: increased 1.9 percent
February 2025 Houston Housing Trends From the HAR Fresh Report.
February 2025 Houston Housing Trends From the HAR Fresh Report.
More properties were listed for sale in Houston in February 2025, with new listings up 10.4% versus a year ago. Active listings are now 31.7% higher than one year ago. The average list price rose to $427,924, a 3.5% increase over February 2024.