Houston November 2024 Housing Market Update – What You Need to Know!
Are you curious about the latest in Houston’s real estate market? Our November 2024 housing market update video is live, and it’s packed with insights for buyers, sellers, and anyone keeping an eye on housing trends. Hosted by Bren Brewer, your trusted local realtor, this month’s update highlights rising sales, growing inventory, and opportunities for every price point. Here’s a quick preview of what we cover in the video—and why you should watch!
Steady Growth in Houston’s Housing Market
November brought great news: single-family home sales climbed by 6% compared to last year, with 6,559 homes sold! This marks the third consecutive month of year-over-year growth, driven by lower mortgage rates in early fall.
🔑 Key Insight: The luxury market led the charge with a 21.4% increase in sales of homes priced over $1 million. Buyers also flocked to more affordable homes under $99,999, which rose by 21.3%—proving opportunities exist at every price point.
Detailed Market Segment Analysis
We broke the numbers down by price range, and here’s how November shaped up:
- $150,000 to $249,999: Up 10.1%
- $250,000 to $499,999: Up 3.3%
- $500,000 to $999,999: Up 13.3%
Whether you’re buying or selling, understanding these trends helps you navigate the market with confidence.
More Options for Buyers with Growing Inventory
Houston’s active listings soared by 22.1%, giving buyers a wider selection of homes than last year. With a 4.4-month supply of inventory—higher than the national average—this is an excellent time to explore your options.
Sellers Stay Competitive
Homes are selling in 52 days on average, just a bit longer than in 2023. Meanwhile, the average sales price has increased to $418,903 (+4.1%), with median prices reaching $329,990. Sellers remain in a favorable position, especially in a market with steady demand.
Townhomes and Condos: A Buyer’s Market?
While sales for townhomes and condos dipped by 12%, inventory expanded to a 5.9-month supply—the highest since 2012. If you’re considering this property type, now could be the perfect time to make a move.
Watch the Full Update for More!
Houston’s housing market is closing out 2024 with strength and stability, even amid challenges like rising mortgage rates. Watch our full video to get all the details and expert insights.
Why Choose Bren Brewer?
As a local real estate expert, I’m here to help you navigate the market with ease. Whether you’re buying your first home, upgrading to your dream property, or selling for top dollar, I’ve got the expertise and local knowledge you need.
📩 Let’s connect! Contact me directly or drop a comment on the video to start the conversation. Don’t forget to like, share, and subscribe for more market updates and real estate advice!
Discover More About Houston’s Housing Market
Stay informed and ahead of the curve by following my blog for the latest updates, tips, and local insights. The November 2024 housing market update is just one example of how I keep you in the know. Let’s make your real estate goals a reality!
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