Houston Texas Housing Market Overview
The Houston real estate market shows notable stability, with home values maintaining strong levels. The median sale price is $339,370, which is 21% lower than the national average. This competitive pricing, alongside Houston’s cost of living being 6% below the national average, presents unique opportunities for sellers. Homes are currently spending an average of 42 days on the market. In desirable neighborhoods such as Montrose, Midtown, and West University Place, sales are occurring more rapidly, demonstrating high demand in these areas. The current sale-to-list price ratio stands at 97%, indicating a healthy market where homes are selling close to their asking prices. Additionally, 23.8% of listings have undergone price adjustments to attract buyers. Furthermore, there is a 14.4% rate of properties selling above list price, accompanied by a 4.4% year-over-year increase in median sale prices. Understanding these market dynamics is crucial for informed selling decisions.