Houston housing prices continue their upward trajectory to record year-over-year highs for a third straight month. The average price of a single-family home was up to $282,233, while the median price rose 4.9 percent to $215,100, according to the latest monthly report prepared by the Houston Association of Realtors (HAR).
While August single-family home sales were up only the slightest fraction and total property sales were flat, homes priced between $150,000 and $500,000 continued to experienced moderate gains. The good news is that half of all homes sold in August spent 18 days or less on the market.
AUGUST 2015: AT A GLANCE
* Single-family home sales edged up a fractional 0.6 percent versus August 2014
* Total property sales were flat year-over-year at 8,836 units
* Total dollar volume increased 2.6 percent to $2.4 billion
* At $282,233, the single-family home average price reached a record high for an August
* At $215,100, the single-family home median price also achieved a record August high
* Single-family homes months of inventory climbed to a 3.5-months supply