Summer Real Estate Report: Crunching the Numbers!

Summer Real Estate Report: Crunching the Numbers!

The pool at Ritz-Carlton Residences, The Woodlands

IS A HEALTHY, balanced real estate market finally here? Per HAR data, the answer is ... kind of? Inventory is at the highest level since 2011, prices are holding steady, and the city and metro area continue to grow in population. Having lost population after Harvey and Covid, the city welcomes significant yet sustainable growth — and a housing market that can handle it.


50%

The share of Ritz-Carlton Residences, The Woodlands under contract in its first week to market, according to Howard Hughes Holdings. It speaks to the trend of branded luxury condominiums; St. Regis also has a community in the works.

5

The number of months that it would take to sell all of the townhomes and condominiums currently on the market if things continued moving at the same pace, and no new listings were to hit. This June 2024 figure is the highest since September 2012, per HAR.

40

The percent of households in the Houston region that can afford a median-priced home with a 30-year, fixed-rate loan, per HAR. This figure was 42 percent in 2023.

23,800

The number of building permits for single-family homes issued in the Houston metro area so far in 2024, a 16 percent increase from one year ago, per the National Association of Home Builders. Texas leads the nation in number of permits issued.

80%

The percentage of multifamily units currently under construction that are located on the western side of the Houston metro area, per Yardi Matrix. The Cinco Ranch community has both the largest project — Resia Ten Oaks — and the biggest slice of the pie (11 percent).

Explore Houston's hottest neighborhoods here or the top real estate trends here.

Home + Real Estate
‘Natural Passion’ Makes Fourth-Gen Houstonian Sarah Callaway Sulma a Realty Star

AS A FOURTH-generation Houstonian, Sarah Callaway Sulma has a unique and invaluable view of the city. Her deep seated connection to Houston led her down the path to becoming one the city's most well-respected, and renowned real estate agents. Sarah's natural passion for the real estate industry from a young age led her to where she is today. "I know that it sounds cheesy, but it is the truth! I wanted to be in real estate from a young age," Sarah shares. "The late-great restaurateur, Tony Vallone, put me together with real estate legend, Martha Turner, and Martha put me together with Cathy Cagle. The rest is history-13 years of success and counting!" Now with over 13 years in real estate and $55M+ in residential real estate sales, Sarah brings a rare combination of knowledge, skill, and advocacy to each one of her clients.

Keep Reading Show less

Little Woodrow's is in the Oktoberfest spirit.

IT MAY STILL be September, but Oktoberfest has already arrived. Slightly less humid weather is beckoning revelers to hit a shaded biergarten and celebrate the season of frothy beer and savory German fare. Here are six delicious ideas on where to hoist a pint!

Keep Reading Show less
Food

The inimitable Twyla Tharp, fourth from the left, and her dancers Jake, John, Daisy, Reed and Kaitlyn

CHOREOGRAPHER TWYLA THARP has been celebrating 60 years as a dance-maker with a coast-to-coast tour that brings her company to Texas this month, with performances in Dallas, San Antonio, Austin and, on Saturday, Sept. 28, at the Wortham Theater Center presented by Performing Arts Houston.

Keep Reading Show less
Art + Entertainment