Houston Home Sales at All-time high prices continue to rise

Michelle Sold Sign 04Home Sales in area set record…All-time high prices likely will continue to rise

The median price of a house in the Houston area hit a all-time high in June and sales were up for the 13th straight month, according to a monthly report released Tuesday.

The single-family median price — the figure at which half the homes sold for more and half sold for less — reached $171,000 last month, up 6.9 percent over the same time last year, the Houston Association of Realtors reported.

The median price of a house in the Houston area hit a all-time high in June and sales were up for the 13th straight month, according to a monthly report released Tuesday.

Strong sales in the high-end property market helped propel the median value. Sales in the $250,000 to $499,999 range were up 25.2 percent over last year. Those between $500,000 and $1 million were up 27.2 percent.

“We see the strength of the Houston housing market as a direct reflection of improving consumer confidence in the local economy as a whole,” Wayne Stroman, the association’s chairman, said in a statement. He cited a Texas Workforce Commission report that Houston-area employers have created 90,000 jobs over the past year.

The association tracks sales handled through the Multiple Listing Service, which includes properties throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties.

Real estate agents sold 6,434 single-family homes last month, a 14.4 percent increase over June 2011 and the highest number of sales in nearly five years.

Inventory is especially low.

The number of properties for sale at the end of June fell 17.8 percent to 42,207. June’s inventory of single-family homes held at the 5.5 months it reached in May. Inventory hasn’t been that low since march 2007.

by by Nancy Sarnoff, Houston Chronicle

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If you are moving to the Katy Independent School District and looking for information on properties available for sale, please call Michelle Sturdevant at 713 572-5308.  Click here to Meet our Team.
Michelle Sturdevant Realty Group


Categories: Houston Real Estate News

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