Hi friends! I wanted to share with you an awesome update in relation to the March home sales statistics!
Strong sales momentum through mid-March helps offset COVID-19’s market impact later in the month!
Lease Property Update
March Monthly Market Comparison
Single-Family Homes Update
- $1 – $99,999: decreased 37.8 percent
- $100,000 – $149,999: decreased 17.7 percent
- $150,000 – $249,999: increased 9.4 percent
- $250,000 – $499,999: increased 13.2 percent
- $500,000 – $749,999: increased 17.5 percent
- $750,000 and above: increased 9.1 percent
HAR also breaks out sales figures for existing single-family homes. Existing home sales totaled 5,888 in March, up 6.3 percent compared to the same month last year. The average sales price increased 4.8 percent to $300,164 while the median sales price rose 4.9 percent to $236,000.
Houston Real Estate Highlights in March
- Single-family home sales rose 8.2 percent year-over-year, with 7,566 units sold, marking the ninth consecutive month of positive sales;
- The Days on Market (DOM) figure for single-family homes was unchanged at 65 days;
- Total property sales rose 6.9 percent, with 8,965 units sold;
- Total dollar volume jumped 11.0 percent to more than $2.6 billion;
- The single-family home median price rose 4.1 percent to $249,900, reaching a March high;
- The single-family home average price climbed 3.8 percent to a March high of $309,785;
- Single-family homes months of inventory was at a 3.5-months supply, down from 3.8 months last March but above the national inventory level of 3.1 months;
- Townhome/condominium sales declined 0.5 percent, with the average price up 6.0 percent to $224,038 and the median price up 4.6 percent to $183,000;
- Lease properties experienced a mixed performance, as single-family home rentals increased 1.2 percent with the average rent up 2.4 percent to $1,788;
- Volume of townhome/condominium leases fell 9.7 percent with the average rent up 4.2 percent to $1,604.
I hope you have found this post beneficial! Please let me know what you think in the comments below!
We are so happy you found our little corner of the interwebs. We look forward to y'all reaching out to us. We love to answer questions and welcome them. Recently we created some local maps, and you can download those by clicking the image/link above. Below, you will find an index of some very helpful information to assist you in learning more about the Houston suburbs. If you are relocating to our neck of the woods, we hope you reach out to us, because we would love to help you by being your local realtor and friend. Hugs, Jo.
Thoughtfully written for you by Jordan and the Jo & Co. Team.
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Links to check out..
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➟ Things to do in The Woodlands :: http://byjoandco.com/inthewoodlands
➟ Safest Neighborhoods in Houston :: http://byjoandco.com/safesthouston
➟ Best Neighborhoods in Houston :: http://byjoandco.com/bestneighborhoods
➟ Houston Texas Where to Live :: http://byjoandco.com/houstontexaswheretolive
➟ First Time Texas Home Buyer :: http://byjoandco.com/firsttimetexasbuyer
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