Business

Median Price For Houston Homes Hits Record High

At the same time, the average price declined slightly.

In June, the median price for a single-family home in Houston was more than $230,538, a 2.5 percent increase from a year ago, according to a monthly report by the Houston Association of Realtors.

Median means half the homes sold for less and half for more than that amount.

At the same time, the average price declined slightly.

“And a lot of that has to do with that the majority of the sales right now is that $150,000 to $500,000 range, which would have caused the median to go up,” Shad Bogany, past chairman of the Texas Association of Realtors, said. “But what’s been fueling the average is the higher market, which has gotten a little soft.”

The total number of single-family homes sold last month was close to June 2015: about 7,700.

Patrick Jankowski, regional economist and vice president of research at the Greater Houston Partnership, feels good about the report, especially the strength in the sales of homes between $150,000 and $500,000.

“It tells me that the housing market is still fairly healthy and that we’re not going to see a downturn in volume or a downturn in prices in the near future,” Jankowski said.

The region’s single-family home inventory also went up, by 17.2 percent from a year ago.

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Florian Martin

Business Reporter

Florian Martin is currently the News 88.7 business reporter. Florian’s stories can frequently be heard on other public radio stations throughout Texas and on NPR nationwide. Some of them have earned him awards from Texas AP Broadcasters, the Houston Press Club, National Association of Real Estate Editors, and Public Radio...

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