Homes are spending little to no time on the Houston housing market in June 2021 as homebuyers continue to take advantage of historically low interest rates despite tight inventory. June homes sales remained strong in the Houston-area as single-family home sales were up 13.6% compared last year, with 10,638 units sold versus 9,362 a year earlier, marking the 13th consecutive month of positive home sales.
According to the Houston Association of Realtors (HAR) Market Update, total property sales for the month totaled 13,090 – the greatest volume of all time, a 16.9% year over year increase from June 2020. All-in-all, total dollar volume for the month of June surged 43.8% to a record $4.8 billion.
Once again, high-end home shopping dominated the Houston market in June as homes priced from $750,000 saw a 136.5% increase in sales followed by homes priced $500,000-$749,999 with 87% increase; and homes priced $250,000 -$499,999 with 35% increase.
It is important to note that on May 2021 Home Sales Market Update, the single-family home average price rose 29.7% to $387,105 and the median price increased 21.7% to $304,000. In June, the single-family home average price rose 23.7% to $395,316 and the median price increased 20.0% to $314,500.
June Houston Sales Highlights and Property Update
- Homes priced $750,000 and above largely carried the increase, with a 136.5% year-over-year increase.
- The single-family home average price rose 23.7% to $395,316 – a new record high, and the median price increased 20.% to $314,500.
- Single-family home sales rose 13.6% with 10,638 units sold across the greater Houston area compared to 9,362 a year earlier.
- Single-family home average price climbed 23.7% to $395,316 while the median price rose 20% to $314,500.
- Townhome/condominium sales jumped 49.9% with the average price up 16.9& to $247,827 and the median price up 22.4% to $214,125 – both record-setting prices.
- Total sales of all property types totaled 13,090 – the highest volume in history, a 16.9% year over year increase from June 2020.
- Total dollar volume surged 43.8% to a record $4.8 billion.
- Total active listings or available properties remain 31.3% lower than this time last year.
- Single-family homes months of inventory registered a 1.5-months supply, down from 3.0 months year-over-year and below the national inventory of 2.5 months.
- Days on Market (DOM) decreased from 57 days in June 2020 to 29 days in June 2021.
June Sales by Housing Segment
- Home prices $750,000 and above – 136.5% increase
- Homes prices $500,000 to $749,999 – 87% increase
- Homes priced $250,000 -$499,999 – 35% increase
The three lowest housing segments – $150,000-$249,999, $100,000-$149,999, and $1-$99,999 saw 25.1%, 40.7%, and 35.2% year over year decreases respectively.
June Lease Property Update
- Single-family lease homes fell 24.1% year-over-year.
- Leases of townhomes and condominiums remain unchanged.
- Average rent for single-family homes jumped 10.6% to a record $2,111.
- Average rent for townhomes and condominiums increased 4.0% to $1,799.
June Monthly Market Comparison
About ApexPro Real Estate
ApexPro Real Estate Group is a full-service real estate brokerage specializing in single family and attached residential properties throughout Houston and the surrounding areas. We are a privately-held small business that brings together top agents, cutting-edge technology, and unparalleled service to help clients throughout Houston to buy and sell real estate — and enjoy themselves every step along the way. Our client reviews exhibit our dedication to help our clients extends beyond the closing table and we would love to earn your business.