Houston Housing Market
Updated May 29, 2023
What does this mean for you?
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Today, Houston homes sell for a median price of $340,000 in an average of 64 days. This is a 3.8% lower price & 31 day increase compared to last year.
In April, the number of sales were down 19%. Looking ahead, pending sales have decreased 11% and there are 37% more price reductions compared to last year.
Pending sales are the #1 indicator of future closings.
Days on market is the #1 indicator of future price reductions.
Price reductions are the #1 indicator of future sales prices.
Current Real Estate Data
Sources & Methodology
The data is for Houston (Data from the HAR MLS for purchases of single family homes over $125,000, not at lot value, in MLS Areas 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37, 38, 39, 40, 55 & 57).
The average days on market is calculated using the average of the trailing 4 weeks of data from the Days on Market graph.
The median sale price is from the most recent month on the Home Prices - Monthly graph, comparing the value to the same month one year ago.
The number of homes sold is from the most recent month on the Home Sales - Monthly graph, comparing the value to the same month one year ago.
Pending sales values are calculated by summing the number of new “Pending” listings from the trailing four weeks for the past two years and then expressing the differences in a percentage value.
Number of properties with price reductions are calculated by summing the number of new properties with a price change and comparing it with same time periods over the last two years.
Pending Sales graph displays the weekly count of new “Pending” listings in the HAR MLS. It does not include “Option Pending” or “Pending Continuing To Show” status fields so contracts are not double or triple counted.
The Days on Market graph displays the average of the Cumulative Days on Market field for sold properties from the HAR MLS field for the past 13 weeks, as compared to the same data over the past three years.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
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