HOUSTON HOUSING MARKET: GREAT IN SPRING 2022
From a year-to-date perspective, housing market sales are running at 4.4%, well ahead of 2021’s volume. And last year’s volume set records. Both home sales and demand for homes continued strong through spring 2022.
Active Listings, Dollar Volume, Pending Sales – All Up
A look at HAR’s year-over-year numbers shows the Houston market is calming down, even as it remains robust.
|
May 2021 |
May 2022 |
Change |
|
|
Total Property Sales |
12,106 |
11,980 |
-1.0% |
|
Total Dollar Volume |
$4.397 million |
$4.924 million |
12.0% |
|
Total Active Listings |
21,151 |
24,301 |
14.9% |
|
Single-Family Sales |
9,714 |
9,627 |
-0.9% |
|
Average Sales Price |
$385,458 |
$440,670 |
14.3% |
|
Months of Inventory |
1.3 |
1.6 |
0.3 months |
|
Pending Sales |
9,957 |
10,353 |
4.0% |
| Source: Houston Association of Realtors | |||
Here were other facts of note mentioned by the HAR:
- The $500,000 to $1 million housing segment registered a 38.3% year-over-year sales volume gain
- The luxury home segment sales—consisting of those priced at $1 million and above—increased by 30.2% from the year before
Focus on Conroe
According to home sales websites Rocket Homes and Redfin, Conroe is still solidly in seller’s market territory. The Redfin April 2022 Compete Score for Conroe homes stood at 73 out of 100, or “very competitive.” This meant the following:
- Many of the homes on the market in the greater Houston region received multiple offers
- The average homes sold did so at about 1% above list price, and went pending in approximately 8 days
- More than 50% of homes in Conroe sold above list price, a 25.7% year-over-year gain from April 2021
Meanwhile Rocket Homes’ May 2022 statistics indicated that 285 homes were listed for sale (versus the 290 listed in April, 2022), and 99 ended up sold. This represented a 16.5% increase from the 85 homes sold in April. Out of those homes sold in May, 60% traded above the asking price. The average sale time was 15 days, with 86 homes sold under 30 days during the month.
Houston metro employment numbers from the Bureau of Labor Statistics indicated that jobs increased by 169,700 between April 2021 and April 2022, a 5.6% year-over-year rise. Meanwhile, unemployment fell from 6.7% to 4.1% during the same period. Montgomery County’s unemployment rate was at 3.7%. Basically, the more jobs created, the higher demand for housing in the Houston real estate market amid growing inflation.
So, the Houston housing market remains a home seller’s market, characterized by a great deal of activity. And if you want your dream home here, ARTAVIA in Conroe, TX has plenty of inventory and floorplans to meet any price point and budget. Check it out today by visiting artaviatx.com.