Low Interest Rates Help Give Houston Real Estate A Strong Start In January 2020

Dated: 02/12/2020

Views: 81

Houston real estate selling season has started early this year primarily due to continued low interest rates and now is a fantastic time to consider selling or buying real estate! Give us a call to discuss the market and how we can help you sell quickly for top dollar and/or purchase a home and negotiate the best offer! 

Image title


Houston Real Estate Highlights in January

  • Single-family home sales jumped 14.3 percent year-over-year, with 4,699 units sold, marking the seventh consecutive month of positive sales;

  • Days on Market (DOM) for single-family homes extended slightly from 66 to 68 days;

  • Total property sales surged 15.2 percent, with 5,800 units sold;

  • Total dollar volume rose 17.1 percent to about $1.6 billion;

  • The single-family home median price increased 4.5 percent to $234,000, reaching a January high;

  • The single-family home average price climbed 4.6 percent to a January high of $291,034;

  • Single-family homes months of inventory was at a 3.5-months supply, down fractionally from 3.6 months last January but above the national inventory level of 3.0 months;

  • Townhome/condominium sales jumped for a second straight month – up 20.9 percent, with the average price down 3.5 percent to $186,582 and the median price down 5.2 percent to $149,750;

  • Lease properties experienced a strong performance, as single-family home rentals climbed 14.5 percent with the average rent up 1.7 percent to $1,782;

  • Volume of townhome/condominium leases rose 5.6 percent with the average rent up 5.9 percent to $1,598.


Click here to read the full report



Russell and Melissa Banki

Best Priced Properties Team

Helping our clients with all of their real estate goals!

www.bestpricedproperties.com

Blog author image

Melissa Banki | REALTOR® GRI CNE

REALTOR®, GRI, CNE - Hite Properties Best Priced Properties Team - The Woodlands TX Cell: 936-445-0216 Clients First! Treating the relationship with far more value than the transaction. We be....

Want to Advertise on this Site?

Latest Blog Posts

Low Interest Rates Help Give Houston Real Estate A Strong Start In January 2020

Houston real estate selling season has started early this year primarily due to continued low interest rates and now is a fantastic time to consider selling or buying real estate! Give us a

Read More

Most Common Areas Of Construction Issues

New construction is a man-made product and sometimes issues can be found in both residential and commercial construction from poor workmanship, misinterpretation of plan details, and deviations

Read More

National Housing Snapshot Of Existing Home Sales In December 2019

Existing-home sales ended 2019 with an increase in December, as a selling market remained strong and housing shortages continued at the start of 2020. The National Association of REALTORS® reported

Read More

Congrats To My Client That Just Purchased His First Investment Property In Houston TX

I'm blessed to work with the best clients and have the support of a fantastic lender! #HappyClientsIsMyMotivation! Helped my client successfully find and purchase his 1st investment property before

Read More