Houston’s Sales Inventory continues to hold steady at a 3.5-months supply. While this is below the current national average of 5.2 months, it’s still great news for prudent local Buyers who want to fully explore their options before choosing a home. Even better news? Inventory is expected to keep growing through the end of 2015 ensuring that Buyers will find the perfect home to fill all of their needs.
Not to be left out, Sellers also had a good month, as home prices reached the highest levels for a September in Houston, ever. Median Home Prices peaked at $195,000 and Average Home Prices rose 5.57% to $303,852, according to data obtained from Houston’s MLS. Home sales were also up 3.5 percent from September 2014 — a total of 6,691 houses.
SEPTEMBER 2015: AT A GLANCE
Single-family home sales rose 3.5 percent compared to September 2014
Total property sales were up 2.2 percent (8,024 units)
Total dollar volume increased 3.8 percent to $2.1 billion
At $287,808, the home average price reached a record high for a September
At $195,000, the home median price increased 5.41%
Single-family homes months of inventory climbed to a 3.5-months supply versus 2.9 months a year earlier