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The Houston-area real estate market saw 13 consecutive months of favorable sales come to an end in July due to what the Houston Association of Realtors referred to as a statistical abnormality. A surge in pandemic-delayed house closings in July 2020 set regional property records "that were no match for even the robust rate of the present market," according to the Houston Association of Realtors.
1 percent year over year to 10,159 systems offered, the Houston Association of Realtors reported. Overall home sales for the month amounted to 12,383-- the 3rd greatest volume of perpetuity. All-in-all, total dollar volume for the month increased 11. 4 percent to $4. 5 billion. On More Details -to-date basis, local house sales in 2021 currently surpass 2020s record speed by 19.
High-end home shopping controlled the marketplace in July. The high-end segment, houses priced at or above $750,000, saw an 36. 7 percent increase in sales. Homes priced $500,000-$ 749,999 saw an 18. 7 percent increase; and houses priced $250,000 -$ 499,999 saw a 12 percent boost. Ad, The rise in high-dollar home buying pushed pricing to record levels.
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The typical sales price rose 15. 3 percent to $389,197, and the median list prices climbed up 13. 9 percent percent to $309,910-- the second greatest behind last month's record-setting figures. Single-family home stock in July 2021 increased to a 1. 8-months supply-- the highest supply of houses the marketplace has had this year.
Months of inventory estimates the variety of months it would take to sell all the active house listings on the marketplace today based upon the pace of sales over the previous year. Comparatively, the nation's general housing inventory currently stands at a 2. 6-months supply, according to the newest National Association of Realtors report.
Ad" We understand anecdotally that the Houston realty market is still red-hot, however the stats make it seem slower than a year ago since of the surge in house closings that happened last July when the market began to normalize with the lifting of pandemic-related restrictions," HAR Chairman Richard Miranda said in a declaration.
