Overall home sales and median prices in the Houston metropolitan area climbed to new highs in June, according to the Houston Association of Realtors.
Total property sales, which includes single-family homes, townhomes, multifamily homes, country homes, high-rise properties and lots listed on the MLS, totaled 7,880 for the month of June, which was a 5 percent increase over June 2004.
Additionally, year-to-date total property sales reached 37,629, which is an increase of 7.2 percent over the first half of 2004.
“The Houston real estate market is luckily bucking the trend being experienced in most other major cities across the U.S.,” said Toni C. Nelson, HAR chair and a division vice president for Coldwell Banker United, Realtors. “With the summer sales season officially beginning last month, the MLS figures show that Houstonians are receiving a great return on their investment in real estate, while prices still remain affordable for first-time home buyers, current homeowners looking for something new or those seeking a second home.”
The overall median price of all single-family homes reached $145,670 in June, which was an increase of 2.4 percent compared to a year ago and a monthly record. The median is a typical market price where half of the homes sold for more and half sold for less than that figure.
For the month of June, existing single-family home sales totaled 5,868, which was an 8.2 percent increase from June 2004. The median sales price for existing homes in the Houston area was $139,950, an increase of 3.7 percent compared to the same period last year.
The number of available homes (active listings) at the end of June was 45,386 properties, which was an increase of 7 percent versus last June and an all-time record.
The Multiple Listing Service of the Houston Association of Realtors includes residential properties and new homes listed by 20,000 Realtors throughout Harris, Fort Bend and Montgomery counties, as well as parts of Brazoria, Galveston, Waller and Wharton counties.
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