There's No Thanksgiving Break for the Houston Housing Market
Despite the Thanksgiving holiday, Houston housing never skipped a beat in November as buyers steered the market through positive territory even as inventory hovered at historically low levels! The $500K to $1M price point led the way in another strong month of home sales!
“Throughout the pandemic, the Houston housing market has been unpredictably strong and November was no exception,” said HAR Chairman Richard Miranda. “We remain on track for a record 2021, and the Greater Houston Partnership (GHP) sees positive conditions for local employment going into 2022, which is good news for real estate.”
Let's break down the numbers! Here are the highlights:
Total property sales rose 5.6 percent (compared to November 2020) with 10,216 units sold.
On a year-to-date basis, total dollar volume increased by a whopping 20.6% to $3.7 billion.
The average price of single-family homes rose by 12.6% to $383,807.
On a year-to-date basis, single-family homes sales are 12% ahead of 2020’s record pace and a staggering 22.2% ahead of 2019, the previous record-setting year!
Homes in the $500K to $1M price range had the largest gain in sales volume for the month with an astounding 49.1% year-over-year gain!
The $250K to $500K segment had the second-largest gain with sales volume rising by 26.2%.
The luxury pricepoint ($1M+) came in a close third rising by 23.4%.
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