June 2017 Market Update

Last month we saw 24,000 homes come on the market for a total of 53,740 homes available in the month of May, of with 13,260 homes sold. We are currently at 4.1 months of inventory up for 4.6 in April. Months of inventory is the length of time it would take for every home on the market to sell, assuming no new homes came on the market. It helps to gauge the health and conditions of the market. Houston saw an average sales price of 257,318 and the middle of the market is right at 205,000, both of which are up a couple thousand from last month.