Is Houston, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Houston has remained a Seller's Market.
Housing Prices in Houston, TX
How much do homes in Houston, TX cost?
Median Sold Price
$314,779
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Houston was $314,779 in March 2024, down 4.4% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $146.6K | $134.9K | -8.0% |
2 Bedrooms | $215.7K | $216.6K | 0.4% |
3 Bedrooms | $334.8K | $298.8K | -10.8% |
4 Bedrooms | $398.2K | $358.4K | -10.0% |
5+ Bedrooms | $678.7K | $609.6K | -10.2% |
Summary: Houston housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8%, 2 bedroom homes increased by 0.4%, 3 bedroom homes decreased by 10.8%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes decreased by 10.2%.
Median Sold Price Compared To Nearby Cities
Hunters Creek Village | $1.9M | $2.5M | +30.8% |
Spring Valley Village | $1.1M | $1.3M | +14.6% |
Houston | $329K | $314.7K | -4.4% |
Hedwig Village | $1.1M | $367.7K | -68.0% |
Housing Supply in Houston, TX
How many homes are available in Houston, TX?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
9,731 | 11,690 | +20.1% |
Summary: The Houston real estate market had 11,690 homes for sale in March 2024, a 20.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 397 | 469 | +18.1% |
2 Bedrooms | 1,395 | 1,708 | +22.4% |
3 Bedrooms | 4,678 | 5,645 | +20.7% |
4 Bedrooms | 2,537 | 2,992 | +17.9% |
5+ Bedrooms | 724 | 876 | +21.0% |
Summary: The Houston housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 18.1%, 2 bedroom homes increased by 22.4%, 3 bedroom homes increased by 20.7%, 4 bedroom homes increased by 17.9%, and 5+ bedroom homes increased by 21%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1,743 | 2,006 | +15.1% |
Asking Price vs. Sold Price
1,238 Homes Were Sold
Under Asking
423 Homes Were Sold
At Asking
344 Homes Were Sold
Over Asking
Summary: A total of 2,006 homes were sold or pending in Houston in March 2024, up by 15.1% month-over-month. Of the 2,005 sold homes, 62% were sold under asking, 21% were sold at asking, and 17% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
43 Days | 39 Days | -8.7% |
Summary: Homes in Houston had an average of 39 days on market in Mar 2024, down by 8.7% compared to last year.
Breakdown of Home Sale Times
1,208 Homes Were Sold
Under 30 Days
524 Homes Were Sold
In 30 - 90 Days
274 Homes Were Sold
Over 90 Days
Summary: During March 2024, 2006 homes were sold in Houston; 60% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.