Even during the Thanksgiving holiday, the Houston housing market remained strong with homes in the $500,000 to $1 million segment leading the way as the greatest sales volume increase for the month of October. According to the Houston Association of Realtors (HAR), the lack of inventory of homes under $250,000 pushed overall prices upward. Moreover, HAR reports that single-family homes sales rose 3.9% with 8,320 units sold compared to last November 2020 (8,010 sales). Houston’s rental market has remained strong as well – a 7.1% increase on leases for single-family homes, 5.1% for townhomes and condominiums.
“Throughout the pandemic, the Houston housing market has been unpredictably strong and November was no exception,” said HAR Chairman Richard Miranda with Keller Williams Platinum. “We remain on track for a record 2021, and the Greater Houston Partnership (GHP) sees positive conditions for local employment going into 2022, which is good news for real estate.”
Monthly Market Comparison – November
November Sales by Housing Segment
- Home prices $1M and above – 23.4% increase
- Homes prices $500,000 to $999,999 – 49.1% increase
- Homes priced $250,000 -$499,999 – 26.2% increase
- Homes priced $150,000 – $249,999 – 33.5% decrease
- Homes priced $100,000 – $149,999 – 27.1% decrease
- Homes priced $1 – $99,999 – 23.9% decrease
HAR: November Houston Real Estate Housing Market Highlights
- Single-family home sales rebounded from a slight decline in October, rising 3.9% with 8,320 units sold versus 8,010 in October 2020;
- The Days on Market (DOM) figure for single-family homes fell from 46 to 35;
- Total property sales rose 5.6% with 10,216 units sold;
- The single-family average price increased 12.6% to$383,807;
- The single-family median price rose 16.3% to $314,000;
- Townhome/condominium sales jumped 16.8% with the average price up 16% to $258,970 and the median price up 10.5% to $210,000;
- Single-family home rentals increase 7.1% with the average rent up 8.5% to $2,042;
- Townhome/condominium leases rose 5.1% with the average rent up 3.8% to $1,737.
If you want to see November 2021 trends – new, pending, and active listings, closings, showings, and open houses in Houston, please click here.
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