The Woodlands Real Estate Market Report for September 2021


HOUSTON HOUSING REMAINS ON TRACK FOR A RECORD YEAR
September housing indicators hold to positive territory heading toward the final quarter of 2021. Despite persistently low inventory, buyers kept the Houston real estate market humming once again in September, positioning it for a record finish by the time the books close at midnight on December 31.

According to the Houston Association of REALTORS (HAR) September 2021 Market Update, single-family homes sales rose 1.5 percent versus last September, with 9,226 units sold. That is up from 9,086 sales in September 2020. On a year-to-date basis, local home sales are 15.3 percent ahead of 2020’s record pace and up 21.6 percent when compared to 2019.

Homes priced from $1 million and above – recently redefined by the HAR Multiple Listing Service (MLS) as the luxury market (it was previously defined as $750,000 and above) – led the way in sales with a 34.6 percent year-over-year increase. That was followed by the $500,000 to $1 million segment, which rose 28.3 percent. The $250,000 to $500,000 housing segment came in third place with an increase of 27.4 percent.

The single-family home average price rose 13.4 percent to $372,408 and the median price climbed 13.3 percent to $300,000. Pricing overall has moderated after reaching record highs in June.

Sales of all property types rose 1.6 percent year-over-year, totaling 11,285. Total dollar volume for September increased 16.9 percent to $4.0 billion.

“The Houston housing market continues to show strength as we enter the fall season, which is traditionally the time of year the market slows,” said HAR Chairman Richard Miranda with Keller Williams Platinum. “We are on track for another record year of sales, however higher home prices and the potential of rising interest rates could impact buyer demand in the coming months.”

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