Greater Houston December Real Estate market update

Greater Houston real estate market update. Home sales rebounded from a slight decline in October, rising by 3.9% with 8,320 units sold versus 8,010 in November of 2020, making 300 more units sold than last November 2020. The Days on Market for single-family dropped from 46 to 35 days. December 2021, total property sales rose 5.6%, with 10,216 units sold. Total dollar volume increased 20.6% to 3.7 billion dollars, making December 2021 about 20% higher total volume dollar than 2020. The single-family average price rose by 12.6% to $383,807, making the Greater Houston Median price for single-family houses increased by 16.3% at $314,000. Single-family home months of inventory Registered a 1.6 month supply, so right at one and a half months down from 2.1 months year over year and below the national inventory level of 2.4 Still, on a year-to-date basis, single-family home sales are 12% ahead of 2020’s record pace and 22.2% ahead of 2019.

Townhome and condos sales rose 16.8%, with an average price of $258,970, making the median price up by 10.5% to $210,000. Single-family home rentals rose 7.1%, with the average rent up 8.5%. In comparison, townhome and condo leases increased 5.1% with an average rent of 3.8%, making the median rent price for single-family houses at $2,050 and $1,750 for townhomes and condos.