Houston home-buying steady despite normal seasonal slump

by Lindsey Wells

New listings began their seasonal slowdown in October, down 5.1% from the same month in 2020, according to a new report by the Houston Association of Realtors (HAR). 

The First Real Estate Snapshot of Houston (FRESH) report, released by the HAR on the first day of every month, sums up the local real estate market between monthly MLS reports. 

Realtors entered 10,727 properties into the MLS in October compared to 11,303 a year earlier. This decline “keeps inventory levels constrained heading into the fourth quarter of 2021,” the report said. 

A significant year-over-year decrease in October active listings reflects steady home-buying in Houston. Active listings remain 16.5% lower than 2020, with 15,081 properties for sale compared to last year’s 18,071.

The average list price for single-family homes climbed 11.6% year-over-year to $384,840. Despite the increase, this figure is below the record price of $399,510 reached in June 2021. A year ago, in October, the average list price was $344,791, according to the report. 

The full report of HAR’s market update for October 2021 is expected Nov. 10.

Read More Related to This Post

Join the conversation

Oops! We could not locate your form.