Houstons Average Home Price Declines First Time In Four Years

Dated: 01/07/2016

Views: 116

Houston's Average Home Price Declines First Time in Four Years.

Houston home sales fall for  two straight months. Average price sees its first decline in almost four years. With the holiday season over and the continued strain with the energy industry. Homes sales fell in November and December. 

According to the latest monthly report prepared by the Houston Association of Realtors (HAR), November single family home sales fell 10.5% with a total of 4,595 sales compared to 5,135 last year. Only homes in the $150,00.00 to $250,000.00 price range had positive sales volume.   Luxury home sales dropped 22%. Homes were on the market an average of 55 days verses 54 the year before.

Slower sales made a slight improvement in months of inventory,  It grew from 2.7 months supply last November to 3.4 months supply. The national average is 4.8 months of inventory.

The average price of a single family home fell 3.5% to $262,064.00 Sales of all property types totaled 5,623 units, down 10.1 percent compared to last November.

Published by:

Debora Aguirre

Realty Executives Advantage


Latest Blog Posts

Do Not Miss Galveston Island Shrimp Festival September 28th And 29th

Details Galveston Island is a seafood lover’s paradise all year round, but this September Yaga’s Entertainment Inc. will bring foodies

Read More

Labor Day Is Coming

Labor Day is coming and do you know the importance or real meaning or do you just enjoy the few days that you have off for the holiday?  Labor Day in the United States is a public holiday that

Read More

Houston Home Sales Breaks Records In June

Houston Home Sales Break Records In JuneAccording to the latest monthly report from the Houston Association of REALTORS (HAR), 8,518 single-family homes sold in June compared to the last record high

Read More

IMPROVE YOUR HOMES SAFETY TO MAKE IT MORE MARKETABLE

Homeowners know the value of reinforced doors with deadbolts or a comprehensive home security system. But there are many less obvious fixes to ensure your home is attractive to safety-conscious

Read More