Low Interest Rates Help Give Houston Real Estate A Strong Start In January 2020

Dated: 02/12/2020

Views: 205

Houston real estate selling season has started early this year primarily due to continued low interest rates and now is a fantastic time to consider selling or buying real estate! Give us a call to discuss the market and how we can help you sell quickly for top dollar and/or purchase a home and negotiate the best offer! 

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Houston Real Estate Highlights in January

  • Single-family home sales jumped 14.3 percent year-over-year, with 4,699 units sold, marking the seventh consecutive month of positive sales;

  • Days on Market (DOM) for single-family homes extended slightly from 66 to 68 days;

  • Total property sales surged 15.2 percent, with 5,800 units sold;

  • Total dollar volume rose 17.1 percent to about $1.6 billion;

  • The single-family home median price increased 4.5 percent to $234,000, reaching a January high;

  • The single-family home average price climbed 4.6 percent to a January high of $291,034;

  • Single-family homes months of inventory was at a 3.5-months supply, down fractionally from 3.6 months last January but above the national inventory level of 3.0 months;

  • Townhome/condominium sales jumped for a second straight month – up 20.9 percent, with the average price down 3.5 percent to $186,582 and the median price down 5.2 percent to $149,750;

  • Lease properties experienced a strong performance, as single-family home rentals climbed 14.5 percent with the average rent up 1.7 percent to $1,782;

  • Volume of townhome/condominium leases rose 5.6 percent with the average rent up 5.9 percent to $1,598.


Click here to read the full report



Russell and Melissa Banki

Best Priced Properties Team

Helping our clients with all of their real estate goals!

www.bestpricedproperties.com

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Melissa Banki | REALTOR® GRI CNE

REALTOR®, GRI, CNE - Hite Properties Best Priced Properties Team - The Woodlands TX Cell: 936-445-0216 Clients First! Treating the relationship with far more value than the transaction. We be....

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