AgentIndustry News

Houston home sales dip in April, inventory jumps

April is the second consecutive month of decreasing sales
  • A total of 6,310 single-family homes were sold during the month of April, as opposed to the 6,349 sold last year in April.
  • Total property sales decreased 2 percent to 7,583.
  • While total dollar volume and average home sales price have decreased, median home price increased 3.3 percent year-over-year.
  • Active listings grew significantly to 34,402 – a 16.7 percent increase since April 2015.

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March and April were not kind to Houston's housing market, which recently experienced its second consecutive month of year-over-year declining single-family home sales and average prices in the latest report from the Houston Association of Realtors. A total of 6,310 single-family homes were sold during the month of April, as opposed to the 6,349 sold last year in April -- presenting a 0.6 percent decrease. The average selling price for single-family homes dipped 1 percent, stooping to $278,544. Townhome and condo sales dropped 12.6 percent. In March, however, that sector saw a 4.7 percent year-over-year increase. The average price increased 4.1 percent to $206,832, and the median price increased 7.3 percent to $153,450. Inventory on townhomes and condos also increased from 2.9 months to 3.4 months. Also on the decline were total property sales and total dollar volume. Total property sales decreased 2 percent to 7,583. Total dollar volume slipped to $2.02 billion, represe...