The Houston real estate market is booming, with home prices increasing by 8.9% in the past year and a median list price of $349,990. The city has a median price per square foot of $167 and inventory of active listings was down 37.1% compared to the previous year as of June 2021. Rent prices have also increased 3.3%, while there are 17.7% fewer active listings than at this time last year according to data from Realtor, Redfin, HAR MLS and Beaumont Enterprise sources among others.
Sales for homes priced between $250K-$500K rose 88.6%, setting a record high single-family home price at $304,900 in May 2021; luxury homes saw an increase in sales by 128%. Average days on the market decreased 31 days over that same period while total number of single-family home sales jumped 48%. There are 1 million more housing units now than 10 years ago when population growth began surging – currently standing at 1.6 million – making it one of America’s top 4 largest markets today with Spring Branch seeing its own 40+ percent jump in median sale prices since 2020 alone. With rent averaging around $1100/month for two bedrooms apartments across Houston zip codes like 77024 which had 64 percent higher sales volume last year versus 2019 – these figures show just how much potential lies within this vibrant Texas metropolis’s ever growing real estate landscape.
The 8.9% increase in Houston home prices over the past year is a telling sign of the strength of the Houston real estate market. This statistic is indicative of the market’s resilience and potential for growth, making it an important factor to consider when evaluating the Houston real estate market.
As of June 2021, inventory of active listings was down 37.1% compared to the previous year.
This statistic is a telling indication of the Houston Real Estate Market’s current state. It reveals that the inventory of active listings has significantly decreased compared to the same time last year, suggesting that the market is in a state of flux. This could mean that the market is becoming more competitive, with fewer homes available for buyers to choose from. It could also mean that the market is becoming more expensive, as fewer homes are available to meet the demand. Either way, this statistic is an important indicator of the current state of the Houston Real Estate Market.
Houston Real Estate Market Statistics Overview
There are 17.7% fewer active listings in Houston compared to the same time last year.
This statistic is a telling indication of the Houston Real Estate Market – it reveals that there has been a significant decrease in active listings compared to the same time last year. This could be indicative of a shift in the market, with fewer properties available for sale and potentially more buyers looking to purchase. This could be a sign of a strong market, with demand outstripping supply, or it could be a sign of a market that is slowing down. Either way, this statistic is an important piece of information for anyone looking to understand the current state of the Houston Real Estate Market.
The sales of Houston homes priced between $250,000 and $500,000 increased by 88.6% in May 2021 compared to May 2020.
This statistic is a testament to the strength of the Houston real estate market, showing that despite the challenges of the past year, the market has been resilient and continues to grow. The 88.6% increase in sales of homes in the $250,000 to $500,000 range is a clear indication that the market is healthy and that buyers are confident in investing in Houston real estate.
The median Houston single-family home price rose to a record high of $304,900 in May 2021.
The record-breaking median Houston single-family home price of $304,900 in May 2021 is a testament to the strength of the Houston real estate market. This statistic is indicative of the increasing demand for housing in the area, as well as the rising value of homes in the city. It is a sign of the times that the median home price has reached such a high level, and it is a reminder of the potential for further growth in the Houston real estate market.
The average days on the market for Houston home listings decreased by 31 days in May 2021 compared to May 2020.
This statistic is a telling indication of the Houston real estate market’s current state. It suggests that homes are selling faster than they were a year ago, which could be a sign of a strengthening market. This could be a great opportunity for buyers and sellers alike, as it could mean that buyers can find their dream home faster and sellers can get their homes off the market quicker.
Luxury homes in Houston saw a sales increase of 128.1% in May 2021 compared to May 2020.
This statistic is a testament to the strength of the Houston real estate market, particularly in the luxury home sector. It shows that despite the economic uncertainty of the past year, the market has been resilient and continues to grow. This is a positive sign for potential buyers and sellers in the area, as it indicates that the market is still strong and that there are plenty of opportunities for those looking to invest in luxury homes in Houston.
The total number of Houston single-family home sales in May 2021 was 9,702, a 48.2% increase compared to May 2020.
This statistic is a clear indication that the Houston real estate market is booming. The 48.2% increase in single-family home sales compared to May 2020 is a testament to the strength of the market and the confidence of buyers in the Houston area. This is great news for anyone looking to invest in the Houston real estate market.
As of 2021, there are approximately 1.6 million housing units in Houston.
The sheer number of housing units in Houston speaks volumes about the city’s real estate market. It indicates that Houston is a desirable place to live, with a wide variety of housing options available to potential buyers. This statistic is a testament to the city’s thriving real estate market, and it serves as a reminder of the potential for growth and investment in the Houston area.
Approximately 35% of Houston-area households are renters.
This statistic is indicative of the fact that the Houston real estate market is a viable option for those looking to rent rather than buy. It shows that there is a significant portion of the population that is choosing to rent, which could be due to a variety of factors such as affordability, convenience, or lifestyle preferences. This statistic is important to consider when discussing the Houston real estate market, as it provides insight into the rental market and the potential for growth in the area.
Houston’s 77024 zip code had an increase in home sales of 64% in 2020.
The remarkable 64% increase in home sales in Houston’s 77024 zip code in 2020 is a testament to the strength of the Houston real estate market. This impressive growth is indicative of the city’s overall real estate market, which has seen a steady increase in home sales over the past year. This statistic is a clear indication that Houston is a great place to invest in real estate, and it is a great sign for the future of the city’s real estate market.
The Greater Houston area saw its population grow by 1 million people from 2010 to 2020.
The sheer magnitude of the population growth in the Greater Houston area over the past decade is a testament to the city’s desirability as a place to live. This influx of new residents has had a significant impact on the Houston real estate market, driving up demand and prices for both residential and commercial properties. With such a large population increase, it’s no wonder that the Houston real estate market has seen such a surge in activity.
In 2021, Houston ranks as the 4th largest housing market in the United States.
This statistic is a testament to the strength of the Houston real estate market, highlighting its importance among the largest housing markets in the United States. It speaks to the potential of the Houston market for investors and homeowners alike, and serves as a reminder of the city’s potential for growth and development.
As of June 2021, the median rent for a two-bedroom apartment in Houston is $1,100.
This statistic is a telling indicator of the Houston real estate market, providing insight into the cost of living in the city. It is an important piece of information for anyone considering a move to Houston, as it gives them an idea of what to expect in terms of rental costs. Additionally, it can be used to compare the cost of living in Houston to other cities, giving potential residents a better understanding of the city’s affordability.
Spring Branch in Houston had a median sales price increase of 40.1% in 2020.
The remarkable 40.1% median sales price increase in Spring Branch, Houston in 2020 is a testament to the strength of the Houston real estate market. This significant jump in median sales price is indicative of the high demand for housing in the area, as well as the overall health of the local economy. It is a clear sign that Houston is a great place to invest in real estate, and that the market is continuing to grow.
Conclusion
The Houston real estate market is booming, with home prices increasing by 8.9% in the past year and a median list price of $349,990. The city has seen an increase in sales for homes priced between $250,000 and $500,000 as well as luxury homes over the last year. In addition to rising home values, rent prices have also increased 3.3%, while inventory of active listings decreased 37.1%. Furthermore, there are 17.7% fewer active listings compared to this time last year and average days on the market decreased 31 days from May 2020-2021 alone; both indicators that buyers are eager to purchase property in Houston’s competitive housing market which ranks 4th largest nationwide according to 2021 data..
Houston’s population growth rate has been significant since 2010 when it saw 1 million new residents move into its 77024 zip code area where median sale prices rose 40%. With all these factors combined it is no surprise that experts predict 5.5% growth for 2021 making now a great time for those looking at investing or buying their first home in Houston.
References
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6. – https://www.chamberlainrealtyllc.com
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