Greater Houston REAL ESTATE market update with Ft. Bend County Realtor Bret Wallace [September 2021]

Greater Houston REAL ESTATE market update for September 2021. Single-family home sales rebounded from July’s decline with an 8.5% increase as 9,890 units sold versus 9,118 in August of 2020. Days on the market for single-family homes fell by half from 51 to 26 days on the market. Total property sales rose by 9.2%, with 12,036 units sold. Total dollar volume increased to 26.7% for a total of 4.3 billion dollars. The single-Family home average price increased by 15.2% to $310,000. Single-family home month inventory went down to 1.9 from 2.6 months year over year and below the national inventory year over year average of 2.6 months. On a year-to-date basis, single-family home sales run ahead by 17.4% topping the 2020’s record-breaking pace.

Townhome and condo sales jumped 27.1%, with an average price of 9.5% to $237,473. The median price went up 14.3% to $200,000. Singe-Family home rentals fell 10.5% in volume, but the average price went up by 9.6% to $2,153. While leases rose by 1.8% in volume, going all the way up to 6.9%, making the average lease price of $1,765 a month.