The Monthly Market Pulse: Houston’s Real Estate Review – January 2024
🚀 Houston Real Estate Lifts Off in 2024! 🏘️
Hello, friends and fellow Houstonians!
We’re absolutely thrilled to share with you the latest buzz from the Houston real estate scene. Let’s unwrap the energetic start to 2024 with some empowering insights that’ll have you as excited about our market as the Selling Houston Team is about serving you!
📈 A Surprising Surge in Sales!
January brought us a delightful surprise – a real estate rally! According to the detail-oriented folks over at HAR, single-family home sales soared by 9.0 percent, marking the second climb in month-over-month transaction count in two triumphant years. 🌟 Remember November’s uptick? January said, “Hold my coffee” and showcased 5,009 homes exchanging hands, an increase from last January’s 4,595. We’re talking about turning new pages and new chapters for many happy homeowners!
🏡 The Heartbeat of Houston’s Homes
In this dance of supply and demand, our city’s rhythm has a fresh beat – a supply up from 2.6 to a more leisurely 3.3 months. And where’s the spotlight shining? On those splendid homes priced between $500,000 to $1 million, leaping a significant 16.7 percent! The luxury life (homes over $1 million) isn’t far behind, stepping up by an impressive 15.4 percent. Long story short: January was BUSY compared with last year!
😌 Days on Market and Total Sales – Nothing but Good News!
Houses are finding their perfect matches quickly, with the Days on Market (DOM) slightly down to 58 days. Total property sales? Oh, they rose by a cozy 6.9 percent with 6,098 units sold. That’s a lot of new beginnings and dreams coming true, and we’re all about making those moments happen for you!
💰 Total Dollar Volume & Prices – Opportunities Await!
Let us paint you a picture in numbers – a dazzling total dollar volume up by 11.9 percent to $2.3 billion. That’s a lot of value and confidence flowing through our city.
But, what about prices, you ask? The average has cozied down under that $400K blanket for the first time since last February, sitting comfortably at $391,080. And the median price? It’s found its snug spot at $320,500. But, compared to January 2023, these relatively affordable figures give gentle 2.1 and 2.7 percent nods to progress.
🤗 Your Selling Houston Team Home Navigators
Navigating the market can feel like a treasure hunt, and we’re here with a map and a smile to guide every step. Whether you’re thinking of buying, selling, or investing, our dedicated team melds expertise with personalized care, ensuring your real estate journey is as rewarding as it is successful.
We’re here to make the market’s ups and downs smooth sailing for you because your dreams are our passion, and your success, our mission. And when in doubt, our community’s testimonials are the heartbeats and success stories that remind us why we do what we do. 🌈
Join us in embracing this energizing start to 2024. We’re excited to explore, educate, and empower you through every twist and turn of Houston’s real estate adventure. 🛤️