Every month, the Houston Association of Realtors (HAR) releases a report on sales and pricing in Houston. Circa Real Estate always stays up to date on the latest market trends to ensure our clients have the best info in hand.
According to the newest press release from the Houston Association of Realtors, March 2017 saw the largest increase in single-family home prices in a year, ever! That’s fantastic news for homeowners who saw their investments appreciate dramatically over the last twelve months. Sales volume, pricing, and inventory all grew this month, with the strongest sales taking place in the the $250,000-499,999 price range. Months supply increased from 3.5 to 3.8 months, meaning that buyer had more selection to choose from.
The month of March saw sales of 7,013 single-family homes, an increase of 11.7% from last March. The median price of single-family homes was $227,530, the highest ever median price for any month of March in recorded history and an increase of 5.8%. Total dollar volume of March sales met a staggering $2.3 billion.
What do these numbers all mean for you? That investing in Houston real estate remains a sound proposition and the market is showing no signs of slowing down. If you’ve been on the fence about buying, prices will likely continue on this upward trend, so there’s no time like the present to take the leap!
Click here to read the latest in HAR’s full March report!
(Featured listing in photo: 601 Gale, Houston TX 77009; MLS# 4030446)