Is Houston, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
At the same time last year, Houston was a Seller's Market.
Housing Prices in Houston, TX
How much do homes in Houston, TX cost?
Median Sold Price
$314,736
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Houston was $314,736 in February 2024, down 5% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $145.8K | $135K | -7.5% |
2 Bedrooms | $216.1K | $216.2K | 0.0% |
3 Bedrooms | $340.8K | $298.2K | -12.5% |
4 Bedrooms | $404.9K | $355.3K | -12.3% |
5+ Bedrooms | $707.9K | $592.3K | -16.3% |
Summary: Houston housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.5%, 2 bedroom homes did not change, 3 bedroom homes decreased by 12.5%, 4 bedroom homes decreased by 12.3%, and 5+ bedroom homes decreased by 16.3%.
Median Sold Price Compared To Nearby Cities
Hunters Creek Village | $1.9M | $2.3M | +21.8% |
Spring Valley Village | $1.1M | $1.3M | +14.6% |
Hilshire Village | $875K | $900K | +2.9% |
Houston | $331.3K | $314.7K | -5.0% |
Housing Supply in Houston, TX
How many homes are available in Houston, TX?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
8,833 | 10,826 | +22.6% |
Summary: The Houston real estate market had 10,826 homes for sale in February 2024, a 22.6% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 354 | 448 | +26.6% |
2 Bedrooms | 1,313 | 1,569 | +19.5% |
3 Bedrooms | 4,156 | 5,203 | +25.2% |
4 Bedrooms | 2,343 | 2,805 | +19.7% |
5+ Bedrooms | 667 | 801 | +20.1% |
Summary: The Houston housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 26.6%, 2 bedroom homes increased by 19.5%, 3 bedroom homes increased by 25.2%, 4 bedroom homes increased by 19.7%, and 5+ bedroom homes increased by 20.1%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
1,456 | 1,570 | +7.8% |
Asking Price vs. Sold Price
1,000 Homes Were Sold
Under Asking
347 Homes Were Sold
At Asking
223 Homes Were Sold
Over Asking
Summary: A total of 1,570 homes were sold or pending in Houston in February 2024, up by 7.8% month-over-month. Of the 1,570 sold homes, 64% were sold under asking, 22% were sold at asking, and 14% were sold over asking.
Days on Market for Houston, TX
How long does it take to sell a home in Houston, TX?
Average Sale Time
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
47 Days | 42 Days | -11.7% |
Summary: Homes in Houston had an average of 42 days on market in Feb 2024, down by 11.7% compared to last year.
Breakdown of Home Sale Times
877 Homes Were Sold
Under 30 Days
473 Homes Were Sold
In 30 - 90 Days
220 Homes Were Sold
Over 90 Days
Summary: During February 2024, 1570 homes were sold in Houston; 56% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.