• Audra O'Neal

Housing Market 2020

Houston Real Estate Highlights for December and Full-Year 2020 from HAR

  1. Despite a devastating global pandemic, 2020 proved to be a record year for Houston real estate with 96,151 single-family homes sold versus 86,996 in 2019, the last record-setting year. That represents an increase of 10.5 percent;

  2. Total dollar volume for full-year 2020 rose 18.1 percent to a record-setting $35.3 billion;

  3. December single-family home sales jumped 25.5 percent year-over-year with 9,652 units sold;

  4. Total December property sales increased 27.2 percent to 11,572 units;

  5. Total dollar volume for December soared 39.3 percent to $3.9 billion;

  6. At $273,443, the single-family home median price rose 8.7 percent, establishing a new record high;

  7. The single-family home average price climbed 11.4 percent to an all-time high of $347,164;

  8. Single-family homes months of inventory narrowed sharply to a record low 1.9-months supply;

  9. Townhome/condominium sales rose 10.9 percent year-over-year with the average price unchanged at $227,856 and the median price down 2.7 percent to $180,000;

  10. Leases of single-family homes fell 14.5 percent with average rent up 7.5 percent to $1,899;

  11. Leases of townhomes/condominiums climbed 13.1 percent with average rent up 3.6 percent to $1,641.

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