Today marks the second of our monthly posts for Houston area statistics. The above table represents October 2021 performance as compared to the performance of October 2019 in the city of Houston.

As you may have already guessed when looking for your new home, or for your client, their is even less inventory now than there was in September. As compared to two years ago the Houston market area is down 38.4% in inventory. October is typically a slower month with September being well into the school year and usually a slow down of sales, the Houston market hasn’t seen much slowing yet.  There is a 5% drop in the number of sales since the previous month but that is expected this time of year.  This lack of inventory has strong correlations with all other factors involving real estate. The average sales price and the average list price of homes has gone up 21.4% and 8.2% respectively.  These are good indications of a strong sellers market. Contributing to indications of a sellers market is the cumulative days on market (CDOM) with average and median CDOM  dropping 42% and 61% respectively (similar to last months statistics. The Closing price to Original List price is similar to that of last months report at 99.1%  Some neighborhoods are even higher than that in the Houston and surrounding areas.  Their are some indications that market areas are slowing down more than others, please feel free to reach out to us if you would like to know more.

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Written by REX

The author is a real estate professional in the city of Houston, Tx with background studies in Economics and Law. The author's intention is to develop education and reporting of information for the public and real property professionals in a trustful manner with open channels of communication. This can be done by critiquing current standards in the mortgage and finance industries, education, and the news.

November 9, 2021