Best Houston Housing Markets For Buyers & Sellers
Updated May 29, 2023
What does this mean for you?
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On average, Houston homes sell in 64 days for a median sale price of $340K, down 3.8% over last year (see Houston Housing Market trends).
However, these numbers can be misleading.
You don’t buy an “average property.” Trends differ based on property type & price point.
The table shows the number of months of inventory for each segment. 5-7 months is a balanced market. High inventory is best for buyers.
Buyers can often negotiate more when properties sit on the market.
Sources & Methodology
The data is for Houston (Data from the HAR MLS for purchases of single family homes, townhomes & condos 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 absorption rate shows how many months it will take to sell out the current supply of homes based upon the current sales rate.
It is calculated by dividing the number of properties for sale by the monthly average number of properties sold.
Example: if there are 10 homes for sale on your block, and 1 home sells every month, then there are 10 months of inventory. (It should take 10 months to sell all of the homes on your block assuming nothing new comes on the market.)
5-7 months of inventory is a balanced market.
A smaller number is better for sellers. A larger number is better for buyers.
For the Houston Days on Market graph, the data compares the average number of days on market for all active properties as of the date listed. We use the HAR MLS field “Cumulative Days on Market” vs the “Days on Market” field as we believe it’s a better representation of how long a property has been available.
For the % with Price Reductions graph, the data compares the percentage of active properties on the market in each segment where the current list price is lower than the original list price.
For 1, 5 & 10 year price change comparisons, the data compares the median sold price per square foot changes. Before March 1st, “this year” is last year’s full year data and is compared to full year data from the 1,5 or 10 years prior. Including and after March 1st “this year” is the current year to date data and compares year to date data from the prior corresponding period.
The current supply of homes is the number of active properties on the market as of the date listed at the top of this page.
The current sales rate is the total number of properties sold in the last 6 months divided by 6.
Appreciation rate % data is based on the median sold price per square foot.
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