Defying the Pandemic, Houston Real Estate Market Has a Record-Setting 2020

1611 South Blvd. was among the hundreds of multimillion-dollar properties sold this year.

COVID WREAKED HAVOC on almost every industry, in one way or another, last year. But the designation of Realtors as essential workers cracked real estate's code to unprecedented success; single-family home sales in 2020 outpaced those of 2019 by more than 10 percent, even with steadily dwindling inventory, per HAR.


For just the second time in Houston's market history, the annual total property sales topped 100,000. In fact, the number of transactions reached 115,523, a nearly 12 percent jump from last year, totaling a whopping (and also record-breaking) $35.3 billion. The average sales price for a single-family home in 2020 was up nearly 6 percent, to $324,069; the median price was also up by around 6 percent, to $260,000.

While April and May sales volumes suffered due to the stay-at-home orders, the remainder of 2020 brought an impressive turnaround. In fact, July produced the greatest one-month sales volume of all time: Nearly 11,000 single-family homes were sold at a record-high average price of $347,164.

By year's end, inventory — the amount of time it would take to sell every home on the market at the current pace — was down to just 1.9 months. That's the Houston market's lowest level ever. For context, 6.0 months is considered representative of a balanced market.

The rental market also held its own; leases of townhomes or condos in December, for example, were up 13.1 percent compared to the same timeframe last year, with average rent up 3.6 percent as well.

Home + Real Estate

Home Improvement & Remodeling is Now Easier Than Ever

THE HOLIDAYS ARE nearing and the next thing to be thinking about is Spring. Ready to make some changes to your outdoor space? Want to create the backyard paradise you have been thinking of? Refresh your spring and summer setting with Brixos.

Keep Reading Show less
Home + Real Estate

'Wild Symphony' by Dan Brown and composer Karl Blench

WHAT DOES AN armadillo even sound like?

It's a question Houston-based composer Karl Blench had to answer while orchestrating best-selling author Dan Brown's musical suite Wild Symphony, a collection of short pieces composed by Brown to accompany his first-ever book for children. On Saturday, Jan. 23, the Houston Symphony will livestream the North American premiere of Brown's Wild Symphony, with Robert Franz doing double-duty conducting and reading passages from Brown's book. And yes, we're talking about that Dan Brown, author of everyone-but-the-Pope's favorite airplane read, The Da Vinci Code, and six other cryptological thrillers for grown-ups.

Keep Reading Show less
Art + Entertainment

Farmers Market in River Oaks District

This weekend promises clear, sunny skies through Saturday — perfect for a nice dinner out or, may we suggest, a pajama party with total strangers? Stream shows at home, or hit up a new farmers market for fresh produce. Due to the ongoing Covid crisis, some events are prone to cancelation, so be sure to check before heading out; mask-wearing and social distancing is encouraged.

Keep Reading Show less
People + Places