houston home The Houston housing market remained strong in August as the city saw its 27th consecutive month of positive home sales.

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:

houston association of realtors

Photo: ChristineTM/Flickr

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