Year over year, Houston-area August home sales rebound after down July

After July home sales dipped in Houston compared to last year, sales rebounded in August. (Courtesy Houston Association of Realtors)
After July home sales dipped in Houston compared to last year, sales rebounded in August. (Courtesy Houston Association of Realtors)

After July home sales dipped in Houston compared to last year, sales rebounded in August. (Courtesy Houston Association of Realtors)

In July, Houston-area home sales dipped below the levels seen a year earlier, interrupting a 13-month run of positive sales.

In August, however, those year-over-year single-family home sales were back on top with an 8.5% increase versus last August at 9,890 units sold compared to the 9,118 sales a year ago, according to a September home report by the Houston Association of Realtors.

Leading the August sales volume were homes priced from $500,000 to $750,000 with a 48.5% year-over-year increase, according to the report. Next were homes in the $250,000 to $500,000 segment, which rose 31.8%, followed by homes priced at $750,000 and above, which saw a 30.5% year-over-year jump in sales.

Still, for the three lowest-priced housing segments—$150,000-$249,999; $100,000-$149,999; and $1-$99,999—single-family home sales decreased 26.6%, 33.5%, and 32.4%, respectively.

Meanwhile, the single-family home median price increased 15.2% to $310,000 year over year, showing pricing has eased since setting highs in June, according to the report.



“The Houston housing market is beginning to show signs of easing, which was to be expected with summer behind us, schools back in session and inventory levels still exceptionally low, albeit improving,” said HAR Chair Richard Miranda with Keller Williams Platinum in the report. “We are also hearing anecdotally that there aren’t quite as many competitive bids on property listings as we observed earlier this year, which drove prices into record territory in June.”

Housing supply, meanwhile, increased to a 1.9-month supply in August, down from where it was a year ago—2.6 months—but still represents the biggest supply of homes the market has had in 2021 and reflects a 10.9% increase in new listings, according to the report. For comparison, the national housing inventory stands at a 2.6-month supply.

By Hunter Marrow
Hunter Marrow came to Community Impact Newspaper in January 2020. Before that, Hunter covered local news in Ontario, OR for three years, covering municipal issues, crime, and education across Malheur County and across the border into Idaho.


MOST RECENT

Comcast will award $1 million to small businesses owned by people of color in Fort Bend and Harris counties (Courtesy Fotolia)
Comcast Rise Investment Fund to award small business grants in Harris, Fort Bend counties

Comcast will award $1 million to small businesses owned by people of color in Fort Bend and Harris counties.

Several parents of New Caney ISD students spoke at the district's Sept. 20 board meetings about recent allegations that a student brought a firearm to Porter High School's Sept. 18 homecoming dance. NCISD Superintendent Matt Calvert stressed that no gunshots were fired at the event, and that the district is investigating the allegations. (Wesley Gardner/Community Impact Newspaper)
CI Nation roundup: Round Rock ISD trustees considered for censuring; New Caney ISD addresses allegations of student with gun at campus event and more top stories

Take a look at the top five trending stories across all of Community Impact Newspaper’s coverage areas as of Sept. 23.

The Texas Department of Transportation will close all northbound and southbound main lanes of I-69 Southwest Freeway at I-610 West Loop on Sept. 24-27 and from Oct. 1-4. (Courtesy Texas Department of Transportation)
I-69 at Loop 610 to be closed Sept. 24-27, Oct. 1-4

North and south main lanes will close Sept. 24 at 9 p.m. until Sept. 27 at 5 a.m. and then from Oct. 1-4

A new 300-room hotel has opened in Texas Medical Center’s Michael E. DeBakey Veterans Affairs Medical Center campus. (Courtesy Michael Anthony)
Hilton opens new dual-branded hotel at Texas Medical Center

The dual-branded Hilton Garden Inn and Home2 Suites by Hilton offers a total of 300 rooms.

Houston resident Marissa Hanson spoke on keeping tax rates low during the Harris County Commissioners Court public hearing on Sept. 21. (Emily Lincke/Community Impact Newspaper)
Harris County Commissioners propose tax cuts at cost of Harris Health System funding

On average, Harris County homeowners may see lower tax rates in the next year, but it will come at the cost of $17 million in funding for the county’s hospital district, according to Harris County Administrator David Berry.

A new collaborative joint research building is in the works that will be housed on Texas Medical Center’s new life science campus. (Courtesy Elkus Manfredi Architects)
Texas Medical Center: Fall 2023 completion announced for research hub for life science campus expansion project

A new research building is underway that will be located in the heart of a future 37-acre TMC3 campus.

Willow Waterhole Greenspace Conservancy’s annual MusicFest will return in 2021 for its eighth iteration. (Courtesy Willow Waterhole Greenspace Conservancy)
Willow Waterhole Greenspace Conservancy announces MusicFest return in 2021

Patrons can enjoy a free festival that will include a lineup of 57 musicians, a Haunted House Maze, Trunk or Treat and costume contests.

 Redistricting is one of the items on the Texas Legislature's third special session, and the state Senate released proposed maps on Sept. 18. (Ali Linan/Community Impact Newspaper)
Texas Senate releases proposed redistricting maps as special session begins

Redistricting is one of the items on the third special session, and the state Senate released proposed maps on Sept. 18.

The H-GAC also helps guide transportation activities through the Transportation Policy Council, according to the council's website (Courtesy Fotolia)
Houston-Galveston Area Council celebrates 55th anniversary

The Houston-Galveston Area Council will be celebrating its 55th anniversary this October.

Bellaire City Council approved its FY 2021-22 budget on Sept. 20. (Hunter Marrow/Community Impact Newspaper)
Bellaire City Council roundup: Council approves budget, lump-sum payment for overpaid sales tax

Bellaire general fund revenues equal almost $23.2 million, with expenditures just shy of $23 million.

Loosened taxicab regulations that began at the start of the COVID-19 pandemic became permanent Sept. 15. (Courtesy Pexels)
Houston loosens taxicab regulations

The changes, approved by city council Sept. 15, reflect a new approach to the city’s relationship with taxicab operators.

Selected artwork will be showcased in several display windows on the first floor of the Ion. (Courtesy of the Ion)
Ion opens call for art with installations forthcoming

Looking for art to showcase in display windows, The Ion and Rice Management Company are calling for preliminary installation proposals from local artists.