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July was yet another positive month for the Houston real estate market, there were positive sales, prices went up and there was a slight growth in the supply of homes. The sales volume reached the highest monthly total ever recorded.

The housing inventory has recovered, after the 40-year lows earlier this year, reaching in July a three-months supply, thanks to a consecutive growth during the past three months. Prices also reached a new high for a July, but were still lower than June all-time record highs. Sales priced between $250,000 and the millions. The number of days in the market for listings fell to a record low of 45.

Sales of single-family homes totaled 7,769 units, which is 1% more compared to July 2013, which also represents a record high one-month sales volume. New listings of single-family homes also rose 5.5% (10,390 properties), which helped boost the house inventory, which is still lower to the 3.4 months supply inventory from last year and the current 5.5 month national inventory.

The average price for a single-family home went up 6.4% compared to last year, to $277,023. The median price increased 6.8% to $202,000.

July sales of all property types totaled 9,250 units, a 0.7-percent increase compared to the same month last year. That marks the second highest one-month sales volume of all time. Total dollar volume for properties sold rose 7.0 percent to $2.4 billion versus $2.3 billion a year earlier.

As you can see, July 2014 was a very good month for the Houston real estate market, specially for sellers. At Tamborrel Properties, we can help you sell your home in no time, we offer full service real estate. For more information about the services we offer for sellers, don’t hesitate to contact us at (800) 891-5818. We will gladly help you and answer all your questions.

Source: Houston Association of Realtors. MLS Report for July 2014.

Posted by Luis Tamborrel on
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