According to the Houston Association of Realtors (HAR), the August 2021 Market Update shows an 8.5% increase in single-family home sales to 9,890 units sold, versus last year with 9,118 sales. Local home sales are 17.4% ahead of last year’s record on a year-to-date basis. Sales of all property types rose 9.2% year-over-year, totaling 12,036. Total dollar volume for August shot up 26.7% to $4.3 billion.
Homes priced from $500,000 to $750,00 lead the way this time with a 48.5% year-over-year increase. High-end homes priced from $750,000 and above saw a 30.5% year-over-year jump in sales.
HAR: Houston Real Estate Housing Market Highlights in August
- Single-family home sales rebounded from July’s declines with an 8.5% increase, as 9,890 units sold versus 9,118 in August 2020.
- The Days on Market (DOM) figure for single-family homes fell from 51 to 26;
- Total property sales rose 9.2% with 12,036 units sold;
- Total dollar volume increased 26.7% to $4.3 billion;
- The single-family average price increased 14.0% to $380,233;
- The single-family median price rose 15.2% to $310,000;
- Single-family homes months of inventory registered a 1.9-months supply, down from 2.6 months year-over-year and below the national inventory of 2.6 months;
- On a year-to-date basis, single-family homes sales are running 17.4 percent ahead of 2020’s record pace.
- Townhome/condominium sales jumped 27.1% with the average price up 9.5% to $237,473 and the median price up 14.3% to $200,000;
- Single-family home rentals fell 10.2% with the average rent up 9.6% to $2,153;
- Townhome/condominium leases rose 1.8% with the average rent up 6.9% to $1,765.
August Sales by Housing Segment
- Home prices $750,000 and above – 30.5% increase
- Homes prices $500,000 to $749,999 – 48.5% increase
- Homes priced $250,000 -$499,999 – 31.8% increase
- Homes priced $150,000 – $249,999 – 26.6% decrease
- Homes priced $100,000 – $149,999 – 33.5% decrease
- Homes priced $1 – $99,999 – 3832.4% decrease
Existing home sales totaled 8,584 in August, which shows a 14% increase from the same month last year. The average sales price rose 13.2% to $375,354 while the median sales price climbed 16.9% to $304,000.
August Single-Family Homes Update
- August single-family home sales quickly rebounded from July’s negative report, climbing 8.5% with 9,890 units sold across the greater Houston area compared to 9,118 a year earlier.
- The single-family home average price increased 14.0% to $380,233.
- The single-family home median price jumped 15.2% to $310,000.
August Lease Property Update
- Single-family lease homes fell 10.2% year-over-year.
- Leases of townhomes and condominiums edged up 1.8%.
- Average rent for single-family homes rose 9.6% to $2,153.
- Average rent for townhomes and condominiums increased 6.9% to $1,765.
August 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.