HOUSTON (RealtyNewsReport.com) – Houston existing home sales last month were up 14 percent over June 2011, according to the Houston Association of Realtors (HAR).
Some $1.7 billion worth of residential properties were sold last month, the highest monthly sales total since August 2007, HAR reported.
Just over 42,200 properties were listed for sale in June, down about 18 percent from a year ago. The 5.5 months inventory is the lowest level in more than five years.
The average home price of $236,656 was an all-time record for Houston, the association said. So was the median single-family home price of $171,000.
Month-end pending sales for June totaled 4,090, up 5.6 percent from last year.