Houston's real estate landscape is ever-evolving, and recent trends indicate a move towards stability. While the market has experienced some fluctuations, the overall picture is optimistic. With home prices finding their footing and a broader selection of homes becoming available, now might be the perfect time for potential buyers and sellers to dive in.
Home Sales Data
The latest data from July 2023 reveals that single-family home sales in the Houston have decreased by 8.5% year-over-year, with 7,557 units sold. This decline is the smallest since the 7.6% drop in June 2022.
Average Home Price Data
In terms of home prices, there's been a slight stabilization. The average price of a single-family home in July 2023 rose by just 0.6% to $428,140. In contrast, the median price decreased by 2.3% to $340,000. These figures are still below the record highs observed in May and June 2022, which were $438,350 (average) and $354,000 (median) respectively.
Final Thoughts
The Houston housing market, with its blend of modern and traditional homes, offers a plethora of opportunities for both buyers and sellers. As the market continues to stabilize, there's no better time to embark on your real estate journey. Remember, at Nan and Company Properties, we help you find your happy, guiding you every step of the way.