Houston homes are selling at their highest prices ever. Here's what local ZIP code data tells us.
The median home price in Bridgeland Parkland Village reached $166.86 per square foot in 2021, up 17.3 percent for the year, according to the Houston Association of Realtors.Houston homes are selling at their highest prices ever as the competition for a limited supply of houses on the market intensifies.
For the sixth consecutive year, the Houston Association of Realtors reported record home sales in the Houston region in 2021. The realty association, which provides an analysis of area sales for the Houston Chronicle’s annual home price survey each spring, analyzed 106,229 single-family home sales handled through its Multiple Listing Service in 2021. The annual median price, which passed $200,000 for the first time in 2015, shot up 15 percent to a record $300,000 in 2021.
Rising mortgage rates, which are projected to average 5 percent for a 30-year fixed-rate mortgage for April through December according to real estate data firm CoreLogic, will further erode buying power. The increase is nearly 2 percentage points higher than last year’s average of 2.96 percent and is up from 3.8 percent in the first quarter.