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Best Month Ever for Houston Home Sales

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Best month ever for Houston home sales: How long can housing frenzy last? Houston home sales hit an all-time high in July with 7,769 homes sold – the highest monthly sales total even in Houston’s real estate history.

The phenomenal July sales represented a 1 percent increase over sales last July, according to theHouston Association of Realtors, which maintains sales records going back many decades.

The home selling binge began over three years ago. Houston has been a national leader in population growth and new job creation as the mortgage rates remain low. It’s brought about a bull market for housing.  Houses are selling briskly with multiple buyers putting in offers on many homes, creating bidder wars and rising home prices.

In July, the average “days on market” statistic dropped to 45 days, the fastest selling pace ever recorded by the Houston Association of Realtors. The association reports Houston has a 3-months supply of homes for sale, a tight market that favors sellers, although there has been some easing as more houses have come on the market over the summer.

 

 

http://houston.culturemap.com/news/real-estate/08-13-14-best-month-ever-for-houston-home-sales-how-long-can-housing-boom-last/

 

 

 

 

 

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I sold my condo last November to the first person that looked at it the day it was listed - cash deal.....I was amazed - never sold any of my other properties that fast over the last 15 years that I have lived here...

 

When I bought my house, it was based on the realtor/builder's drawings of the new development they were building - nothing to look at other than floor plans and elevation drawings (I have built a few homes previously so I don't mind going off floor plans)...there were 4 other offers on the particular unit I bought the day after I wrote my contract - it's crazy out there!!

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I sold my condo last November to the first person that looked at it the day it was listed - cash deal.....I was amazed - never sold any of my other properties that fast over the last 15 years that I have lived here...

 

When I bought my house, it was based on the realtor/builder's drawings of the new development they were building - nothing to look at other than floor plans and elevation drawings (I have built a few homes previously so I don't mind going off floor plans)...there were 4 other offers on the particular unit I bought the day after I wrote my contract - it's crazy out there!!

 

Really? Sounds great!

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https://www.bizjournals.com/houston/news/2019/08/14/houston-home-sales-break-all-time-records-in-july.html

Single Family:

Quote

Single-family home sales in July totaled 8,953, an 11.6 percent year-over-year increase and the largest one-month volume of all time, the Houston Association of Realtors reported Aug. 14. The previous record was set in June 2018, when 8,385 single-family homes were sold. 

 

All pricing segments at or above $150,000 recorded increases in single-family home sales. The largest increase was in the $500,000-$749,999 segment, which saw sales skyrocket 22 percent, followed by the $250,000-$499,999 segment, with a 16.9 percent increase.

 

Townhome/Condominium:

Quote

Sales in the townhouse and condominium segment also increased 15.8 percent, totaling 697 units, tying with the record set in June 2018. However, the average price fell 5.9 percent to $202,853, while the median price declined 1.8 percent to $163,000.

Houston did it again. 

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