HOUSTON (Realty News Report) – According to the Houston Association of Realtors, 5,260 single-family homes were sold in the area last month. That’s the strongest February on record for local Realtors and the first time February sales have ever broken the 5,000-mark.
“This is the active season right now,” said local Realtor Amy Bernstein of Bernstein Realty. “I really think buyers are very bullish about the market.”
Bernstein said the Meyerland neighborhood of southwest Houston, which was devastated by hurricane flooding last year, is seeing a lot of new construction and major remodeling that involves elevating the houses, often more than six feet above ground.
“Meyerland is making a comeback,” she said.
Across the city, inventory is tight at a 3.2-months supply. A six-months supply is considered a balanced market.
Just under 34,000 properties were listed for sale last month, down 2.2 percent from the year before.
The median home price in February was $226,200. A decade earlier, the median home price was $151,000.