one hot september

Houston home sales surge to $3.4 billion for record-setting September

Houston Where to buy now neighborhoods Crestwood

Homes valued over $750,000 and up leapt a whopping 81.5 percent compared to September 2019.

Photo by TK Images

As any current local homebuyer knows, mortgage interest rates during this pandemic are at a historic low. That spurred a sizzling summer for Houston home sales, but recently released data shows that heated trend has continued through September.

Some 9,101 single-family homes sold in September in Houston, compared to 7,050 a year earlier. That translates to a 29.1 percent increase and marks the fourth straight month of positive sales, according to the latest Houston Association of Realtors (HAR) report.

Here, high-end homes on the market experienced the greatest increase in sales volume. Just how hot is the high-end home market? According to HAR numbers, homes priced at $750,000 and up leapt a whopping 81.5 percent compared to September 2019.

That was followed by the $500,000 to $750,000 housing segment, which jumped 58.1 percent year-over-year. Homes between $250,000 and $500,000 — which comprise the market’s biggest share of sales — also achieved significant increases over last year.

Meanwhile, the single-family home median price rose 8.3 percent to $265,000, while the average price increased 10.1 percent to $329,801. Both figures are record highs for any September. Year-to-date sales are currently 5.4 percent ahead of 2019’s record pace.

Overall, sales of all property types totaled 11,137 — that’s up 31.9 percent from September 2019. Total dollar volume for the month surged 43.6 percent to $3.4 billion, HAR reports.

The sales frenzy, combined with a steady decline in the number of homes entering the market in recent months, has sent inventory to its lowest level in almost six years, according to HAR. The slow pace of new listings combined with another month of strong sales drove single-family homes inventory down to a 2.5-month supply versus 3.9 months a year earlier. The last time inventory dropped that low was in December 2014.

So will this scorching pace continue through fall? HAR notes that a sales slowdown is inevitable as would-be buyers are left with a narrower selection of homes.

“September sales defied expectations with many realtors busier than ever, however we anticipate that the pace of sales will soon slow down since there just aren’t a whole lot of homes out there for consumers to buy,” said HAR chairman John Nugent with RE/MAX Space Center, in a statement.

reports

a luxury escape

80 acre Houston-area estate with two ponds listed for $11.5 million

S Lazy S Ranch house exterior at 8502 Stansberry Road

Photo by Sky Crafted Imaging for Martha Turner Sotheby’s International Realty

S Lazy S Ranch in Wallis is for sale for $11.5 million.

Imagine acres of green vistas, tree-lined paths and the privacy that comes with a personal oasis. That’s S Lazy S Ranch, set on 80 acres at 8502 Stansberry Road in Wallis. It’s for sale for $11.5 million, listed by Rachel Hrncir with Martha Turner Sotheby’s International Realty.

Gated and fenced, this is a remarkable property meant for living, working, and entertaining, with exceptional indoor and outdoor spaces.

Designed in tandem by the seller and Houston architect Robert McKinney, a decorated amateur golfer who’s considered one of the top golf clubhouse designers in the United States, the home unfolds over more than 5,000 square feet and features a distinctive floor plan that maximizes its pond views and is flooded with natural light. From the rugged facade of San Saba stone to a host of contemporary conveniences, this is a space that offers elegant rustic living.

Photo by Sky Crafted Imaging for Martha Turner Sotheby’s International Realty

S Lazy S Ranch in Wallis is for sale for $11.5 million.

The interior’s spacious gathering areas provide opportunities for family relaxation and entertaining a crowd. The chef's kitchen has Viking appliances and is anchored by a large island with seating for five. An open plan provides seamless access to the dining room and living room, with vaulted wood ceilings and a huge stone fireplace.

A luxurious primary suite is a true retreat, with double glass doors opening to a covered patio, two walk-in closets, and a spa-like bath that boasts a jetted soaking tub set against huge windows offering beautiful views. The secondary bedrooms are designed as private suites, and a flexible bonus space can be a game room or other additional gathering spot.

Outdoors, find covered patios, an infinity-edge spa, outdoor kitchen, fire feature, two stocked ponds, and abundant wildlife.The barn includes four horse stalls, workshop, guest apartment, and equipment storage.

With a location south of I-10 and less than an hour from Houston, S Lazy S Ranch is a space that feels deep in the heart of Texas, yet is so close to modern living.