The Houston Association of Realtors (HAR) recorded 7,504 single-family home sales in August, up 16.2 percent year-over-year. This is the fourth straight month that sales volume has exceeded 7,000.
The median price of a single-family home climbed 12.8 percent to $186,200 while the average price increased 16.4 percent year-over-year to $260,607. HAR says both figures represent the highest prices ever seen in an August in Houston.
“This has definitely been a summer sales season unlike any we have seen before,” said HAR Chairman Danny Frank.
“Our small bump in inventory in July was short-lived as consumers bought faster than homeowners sold in August. It’s difficult to say exactly when Houston’s boiling real estate market will begin to cool down.”
Here’s a few more points worth knowing about Houston’s August market performance:
- August sales of all property types hit 8,908, a 16.4 percent increase over August 2012
- Foreclosure property sales dropped 47 percent compared to August 2012
- Total dollar volume for properties sold climbed by a whopping 35.6 percent to $2.2 billion. It was $1.6 billion one year earlier.
Hungry for more stats? We’ve got you covered: