HOUSTON – A global pandemic didn’t slow the demand for homes in Houston in 2020.
Last year, Houston buyers closed on a record 96,151 single-family homes, a 10.5% year-over-year increase and the largest one-year sales volume of all time, the Houston Association of Realtors reported. The previous sales record was set in 2019, when 86,996 single-family homes were sold.
Property sales of all types totaled a record-breaking 115,523, an 11.6% year-over-year increase and only the second time that figure has crossed the 100,000 mark. All-in-all, the year’s total dollar volume jumped 18.1% to more than $35.3 billion, yet another record according to the Houston Association of Realtors.
Both the average and the median sales price for a single-family home increased about 6 percent year over year #8212; The average was $324,069, and the median was $260,000.
After stay-at-home orders at the beginning of the pandemic interrupted local real estate activity in the Spring, April and May emerged as the only negative sales months as the market rebounded over the summer and gained momentum each month for the rest of the year, Houston Association of Realtors reported. Houston’s greatest one-month sales volume of all time was recorded in July, when 10,815 single-family homes were sold.
The housing market ended on a high note in 2020. Single-family home sales in December totaled 9,653, a 25.5 percent year-over-year increase, and total property sales reached 11,572, a 27.2% year-over-year increase. The sales price for