If you've been keeping an eye on the real estate market, you'll be pleased to know that things are looking up. The market is showing resilience and a return to normalcy, making it an excellent time for both buyers and sellers to take action.
If you're considering selling, you might find our post on Home Staging: The Secret Weapon to Better Property Sales particularly useful.
For those contemplating whether to enter the market now or later, our Houston Real Estate Forecast for 2024 offers crucial insights on why waiting might cost you your dream home.
Let's dive into the details.
Home Sales Data
The Houston housing market has been on a roller coaster, but things are starting to level out. According to the latest data, home sales have been down for 17 consecutive months. However, the rate of decline was the smallest since last spring, indicating a more stable market. The months' supply of homes has also increased to 3.3, giving buyers more options to choose from. If you're a buyer, you might be interested in our article on Neighborhood Features That Increase Home Value, which can help you make an informed decision.
Average Home Price Data
When it comes to home prices, stability is the name of the game. The average home price in Houston for August 2023 was $420,124, while the median was $339,000. These figures have stabilized and are well below the record highs we saw in 2022. If you've just moved or are planning to, our post on What You Should Do Within 30 Days After Your Move-In Date offers essential tips for settling into your new home.
Final Thoughts
The Houston housing market is showing promising signs of stability and balance. Whether you're in the market to buy or sell, now is a great time to make your move.
Feel free to reach out to us for any real estate needs. We help you find your happy by offering expert guidance in this booming market. Don't miss out on the opportunity to secure your dream home or make a profitable investment.
Source: Houston Association of Realtors