Are you considering buying or selling a home in Houston? We dive into the current real estate market trends and provide valuable insights to help you navigate this ever-changing landscape. Discover how the market is gradually returning to normalcy, with pricing trends for single-family homes and townhouses/condos, and how sales compare to pre-pandemic levels. Additionally, we'll discuss the impact of interest rates and inflation on affordability and share tips on preparing for a potentially longer selling process. To make the most informed decisions for your unique situation, join us as we explore these key factors and offer expert advice from our experienced real estate agents. Read on to unlock the secrets of Houston's real estate market!
Home Sales Data
Despite an 18.3% drop in sales compared to last year, March sales were up 13% when compared to pre-pandemic levels in 2019. With the median price decreasing by 3% to $325,000 and the average price remaining flat at $408,647, the market shows mixed performance across different housing segments. Additionally, the Days on Market has increased, signaling a longer selling process.
Average Home Price Data
Although the market experienced a drop in sales, the average price remained statistically flat at $408,647 in March, showing stability in pricing despite changing market conditions. Compared to pre-pandemic levels in 2019, the average price has increased by 27% from $298,356, indicating significant growth over time.
So What Does This Mean?
The Houston real estate market is slowly getting back to normal, with various trends affecting sales and prices. Staying informed is key to making smart choices when buying or selling a home. Our skilled real estate agents are here to help, offering expert advice customized to your specific needs.
If you are curious about statistics in your area, reach out to one of our incredible agents today for an in-depth analysis of your neighborhood’s market conditions!
(Market data provided by HAR.com)