Houston Real Estate Market Update: 2013 Report – Market Zooms Into Record Territory

Houston real estate closed 2013 with strong gains in sales volume and pricing versus 2012

December home sales help push the year’s total dollar volume to an all-time high and inventory to an all-time low.

The following is the Houston MLS Report for 2013. Published by the Houston Association of Realtors, the data covers Houston homes for sale and real estate trends from the last twelve months

Houston Real Estate Milestones in December

• Single-family home sales increased 14.3 percent year-over-year.
• This was the market's 31st consecutive monthly increase.
• Total dollar volume jumped 24.2 percent, increasing from $1.4 billion to $1.8 billion on a year-over-year basis.
• At $265,017, the single-family home average price reached the highest level for a December in Houston.
• At $188,500, the single-family home median price also reached a December high for Houston.
• A 2.6-month supply of inventory of single-family homes is the lowest level of all time and is lower than the national average of 5.1 months.
• 2.9 months inventory of single-family homes is down from 3.1 months in October 2013 and from 4.1 months in November 2012 while comparing to the national average of 5.0 months.
• Sales of townhouses/condominiums rose 15.4 percent year-over-year
• Single-family home rentals rose 7.8 percent compared to December 2012 while rentals of townhouses/condominiums climbed 9.8 percent.
• via:http://www.houstonproperties.com/2014-february-houston-real-estate-market-report