If current home sales trends continue, this year will become the second-best year ever for Texas real estate, according to the 2014-Q3 Texas Quarterly Housing Report released today.
A strong third quarter saw home sales continue to exceed last year’s levels, says Texas Association of REALTORS® Chairman Dan Hatfield. “The third quarter of the year is typically a much slower sales period—summer is over, school has started, and families are staying put for the upcoming holiday season. That was not the case this year,” Hatfield says.
Here are a few of the report’s findings:
- 80,851 Texas homes were sold statewide in the third quarter—a 0.61% increase over the same quarter in 2013.
- $188,900 was the median price of Texas homes, a 6.84% year-over-year increase.
- The average price of Texas homes rose 5.91% from 2013-Q3 to $243,548.
- Statewide housing inventory increased 2.77% from the second quarter of 2014 to 3.7 months.
The report uses data from multiple listing services in markets throughout Texas. To see how your market performed in the third quarter of 2014, download the full report issued by the Texas Association of REALTORS®.