So, how's the Market?

Record-low inventory and the persistence of COVID-19 are still unable to thwart the demand for consumers in real estate. October 2020 saw an overall 29% increase in single-family purchases compared to 2019, the bulk of which were made in the $250,000 - $500,000 price range.

Luxury-level real estate ($750,000+) saw the biggest jump in sales volume, with a whopping 82% increase year-over-year. Next in line was the high-end market, with a 78% increase of its own.

The single-family home median price rose 11.1 percent to $266,685 while the average price increased 12.4 percent to $334,996. Both figures are record highs for an October. Year-to-date sales are currently 7.7 percent ahead of 2019’s record pace.

$3.5 BILLION of real estate moved in the month of October. This reflects a 46% increase than this month last year.

“There was no way to anticipate that the Houston housing market would move at such incredible velocity when coronavirus struck, but I believe it is a testament to the importance of meeting consumers’ housing needs during a pandemic and the dedication of hard-working real estate professionals throughout our community,” said HAR Chairman John Nugent with RE/MAX Space Center.

I’m thrilled to be apart of the team.

For the full October HAR Press Release, click here.