Market Update on Fall Home Sales in Houston

Good news, Houstonians, the Houston Association of Realtors (HAR) reports that the Houston housing market experienced across-the-board gains in September 2014, with total property sales, total dollar volume and average and median pricing all up when compared to September 2013.

Month-end pending sales for all property types totaled 4,143. That is up 17.2 percent compared to last year and is considered a bellwether of continued positive sales activity next month. Active listings, or the number of available properties, at the end of September was 28,946 and is 10.8 percent below last year.

Houston’s housing inventory, after holding steady at a 3.0-months supply in July and August 2014, shrank in September 2014 to a 2.9-months supply versus 3.2 months a year earlier. That compares to a 5.5-months supply of inventory across the U.S. recently reported by the National Association of Realtors.

CATEGORIES SEPTEMBER 2013 SEPTEMBER 2014 CHANGE
Total property sales 7,362 7,879 7.0%
Total dollar volume $1,733,076,889 $2,005,556,946 15.7%
Total active listings 32,457 28,946 -10.8%
Total pending sales 3,536 4,143 17.2%
Single-family home sales 6,064 6,490 7.0%
Single-family average sales price $248,948 $269,440 8.2%
Single-family median sales price $182,000 $196,000 7.7%
Single-family months inventory* 3.2 2.9 -10.0%

* 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.

Contact CQ Realty today to find out what your home is worth in this market and for any questions on up-and-coming neighborhoods in Houston, based on historical price trends.

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