Houston Real Estate Trend Continues Recent Strength in January, Months Inventory Continues to Shrink
Wednesday, February 21, 2007
By HoustonRealNews Market Analyst (analyst@houstonrealnews.com)
The Houston Association of Realtors' (HAR) monthly report shows that the Houston market is still very strong. According to HAR, Houston's year-over-year median price grew 2.9% to $142,00 and the average price increased 1.4% to $181,350.
The number of home sales grew at 8.1% over January 2006.
These results appear to back up our Houston Real Estate Market Outlook issued at the beginning of the year.
Below, see the results as provided by HAR.
All Categories | January 2006 | January 2007 | Percent change |
Total property sales | 4,618 | 4,994 | +8.1% |
Total dollar volume | $776,580,141 | $872,250,771 | +12.3% |
Average-single-family sales price | $178,844 | $181,350 | +1.4% |
Median-single-family sales price | $138,000 | $142,000 | +2.9% |
Total active listings | 40,814 | 44,685 | +9.5% |
Total pending sales | 4,349 | 4,812 | +10.6% |
Months inventory* | 5.2 | 5.1 | -2.3% |