Houston single-family home sales increased 4% in comparison to September 2016 and fortunately, the increase put year-to-date sales in positive territory. Sales are up 2% for the year. Houston real estate sales are still in uncharted waters as a result of Harvey and the devastating aftermath. Harvey created a huge increase in single-family rentals which are up 28% in September and 18% year-to-date. Single-family rentals are generally written for a 6-12 month period so it will be interesting to see if, in the future, these tenants switch to homeownership or simply return to their former home, now repaired! Stay tuned and we’ll keep you posted!
*Pending sales are homes that are under contract and indicate buyer demand in the month pended.
Houston Home Sales by Price Cohort for 2017
What price ranges have the largest increase in sales in Houston in September? The following price corhorts experienced the largest increase compared to 2016:
.Based on the entire spectrum of Houston price cohorts, homes priced $399,999 and below are in a sellers’ market. Homes priced $400,000 and above are in a buyers’ market.
The Houston overall market is so large; it rarely reflects the same trends as a submarket area located within its boundaries. Some areas are exceeding Houston’s overall growth in sales while others are lagging behind. For a breakdown of activity by area with a map, CLICK HERE.
To see the hottest selling geographical areas for the month in Houston, CLICK HERE.
To search all properties by price range or map, go to CLICK HERE.
Data provided by the Houston Association of Realtors® Information Services™, and The Real Estate Center for Texas A&M and written by Toni Nelson, Director of Strategic Initiatives for Better Homes and Gardens Real Estate Gary Greene