Local Home Sales Show Positive Signs in Recent Months
For a long time, many neighborhoods saw a drop in home sales each month compared to the previous year. However, things started to look up in July, and this positive change continued into August. The latest report from the Houston Association of Realtors (HAR) confirms this.
In the six areas, four saw an increase in home sales in August compared to last year. These increases ranged from 25% to an impressive 55%. But two areas (77007, 77008) still had fewer sales.
When it comes to home prices in August, it was a mix. Most areas saw average prices go up, but some places had median prices that didn't change much, based on HAR's data. Overall, people are spending more on homes this year than they did at the same time in 2022.
77018 Area Details: This area, which includes places like Garden Oaks and Oak Forest, saw 70 homes sold last month. That's a 32.1% increase from the 53 homes sold in August last year. But if we look at the whole year, this area is still behind its 2022 sales numbers. The average price of a home sold in August was $650,018, a 10.9% increase. The median price was almost the same as last year.
77092 Area Details: This area to the west had 33 homes sold in August, a 37.5% increase from last year. But the total sales for the year are still lower than 2022. The average home price in August was $377,502, which is 11.8% higher than last year. The median price also went up to $357,000.
77091 Area Details: This area, at the northern edge, had the biggest increase in August sales among the local areas. There were 34 homes sold, a 54.5% jump from the 22 sold in August 2022. This area is also the only one that has sold more homes this year than at the same time in 2022.
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