April 2021 - Home Market Report
Houston's real estate market reached its 11th straight month of growth. Prices continue to rise and inventory is at record lows making this an extreme seller's market. For many buyers, this means homes are selling for over asking price and in one weekend or less. For sellers, this means the potential of receiving multiple offers and the ability to demand higher prices with fewer contingencies. See the full market update report video below.
Here are some key takeaways from the video:
- Single-family home sales increase for the 11th consecutive month by 47.4% year over year with over 9105 units sold.
- The days on market for single-family homes dropped from 58 to 40.
- Total property sales rose 58.3% with 11,348 units sold.
- The average price of a single-family home reached a record high rising over 20% to $371,854.
- The median price of single-family homes rose 17.6% to $285,000 which is also a record high.
- Single-family home inventory is also reaching record lows at 1.4 months of inventory available in April.
- Your today at single-family home sales are currently 24.4% ahead of the 2020s record pace.
- Leasing grew over 14% in the townhome and condo space but dipped just below 4% in the single-family space.
The team at Hampson Properties is here to help both buyers and sellers navigate this confusing and record-breaking market. Contact our team today with any of your questions or to get the ball rolling on buying or selling.