Houston Association of Realtors reports that 6,583 single-family homes were sold by its members in April, up 3.1% from a year earlier. New listings increased months of supply to 4.0 (from 3.6 in April 2016).
"The Houston real estate market had another strong showing in April among sales and rental properties alike, and as we had hoped, inventory levels got a healthy boost,” said HAR Chair Cindy Hamann with Heritage Texas Properties. “The latest Texas Workforce Commission employment update states that 13,300 jobs were created throughout greater Houston in March, the most since September 2015, so we remain optimistic about the local economy."
The median price for single-family homes was up 4.6% to $228,000 while the average price was up 4.7% to $291,770, which is a new April record.
There was also a 3.8% rise for condo sales in the market with 599 units sold. Median price for condos was up 8.5% to $171,500 while the average price fell 0.6% to $207,527.
Across all housing types sales were up 4.2% to 8,014 while the total dollar volume rose to $2.2 billion, up 8.1% from a year earlier.
More market update:
The housing market in Houston continued to show growth in April with single-family homes leading the rise.