Texas home sales started off with a BOOM in the first quarter!
According to 2017 Q1 Texas Quarterly Housing Report from the Texas Association of Realtors, Texas home sales have increased 4.6 percent year-over-year on a good, strong start!
In the first quarter, there were 68,420 home sales of 2017 with a median home price that increased 9.4 percent year-over-year to $213,325.
“Price distribution showed a decline in sales volume among lower-priced, entry-level homes. Of all homes sold in Texas, 45.6 percent of them sold for less than 200,000, which is down 5.7 percentage points from last year.”
“Active listings increased 6 percent from the first quarter of 2016 to the first quarter of 2017 to 98,399 listings. Texas homes spent an average of 64 days on the market, which is unchanged from the previous year.”
Texas monthly housing inventory increased to 3.6 months of inventory, up 0.1 months from last year. It is also the first year since 2011 that monthly housing inventory showed gains in Q1!
If you are interested in buying or selling a home, please contact our team at christy@christybuckteam.com or 832-264-8934!