October 2022 HAR MLS Market Data

HAR MLS data release shows slow down home sales, increasing inventory and continuing rise in home prices  for October 2022 Real Estate data.  

Single-Family median sales price was $330,500 up 8.4% compared to the same month last year. Average sale price is $403,712 up 7.2% ($376,612 September 2021).  

Number of closings was 6,641 homes down 22.8% (8,597 in October 2021) year over year.  

Active inventory was 36,751 homes, up 43% year over year.  

Average Days on Market, the actual time it took to sell a home grew from 32 to 43 days.  

Months inventory was up only 1 month to 2.8 months. This inventory increase is the highest level since July of 2020 at 2.9 months. This inventory increase is still below the 6.0 months’ supply generally considered a balanced market. Compared to national housing inventory per NAR of 3.2 months.  

Townhome/condominium sales declined 19.4%. Average price up 9.3% to $269,936 and median price up 3.9% to $226,500  

* This data is based on HAR MLS whole data and the Image data is just for the city of Houston.

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Sohna Jaye, Realtor Walzel Properties, LLC