$2,138 Closing Credit*
$180,000
1,863 SqFt
3 Beds
•1 Full Bath
Nicole Pool, Listing Office: HomeSmart
Is Houston, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Houston was a Seller's Market.
Key Takeaway
Houston is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Houston, TX
How much do homes in Houston, TX cost?
Median Sold Price
$319,921
$166/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$9,885(+3.2%)
Key Takeaway
Homes in Houston have sold for 3.2% more than they did a year ago.
Summary: The median home sold price in Houston was $319,921 in November 2024, up 3.2% from last year, and the median price per square foot was $166.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $136.3K | $134.9K | -1.0% |
| 2 Bedrooms | $213.5K | $217K | +1.6% |
| 3 Bedrooms | $295K | $302.7K | +2.6% |
| 4 Bedrooms | $354.9K | $367.1K | +3.4% |
| 5+ Bedrooms | $579.1K | $601.5K | +3.9% |
Summary: Houston housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 1%, 2 bedroom homes increased by 1.6%, 3 bedroom homes increased by 2.6%, 4 bedroom homes increased by 3.4%, and 5+ bedroom homes increased by 3.9%.
Median Sold Price Compared To Nearby Cities
| Hedwig Village | $366.5K | $1.2M | +230.4% |
| Hilshire Village | $900K | $1.3M | +44.4% |
| Hunters Creek Village | $2.3M | $2.5M | +6.9% |
| Houston | $310K | $319.9K | +3.2% |
| Spring Valley Village | $1.3M | $1.2M | -11.4% |
Housing Supply in Houston, TX
How many homes are available in Houston, TX?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 11,762 | 12,764 | +8.5% |
Summary: The Houston real estate market had 12,764 homes for sale in November 2024, a 8.5% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 483 | 525 | +8.7% |
| 2 Bedrooms | 1,782 | 1,929 | +8.2% |
| 3 Bedrooms | 5,566 | 6,098 | +9.6% |
| 4 Bedrooms | 3,084 | 3,303 | +7.1% |
| 5+ Bedrooms | 847 | 909 | +7.3% |
Summary: The Houston housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.7%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 9.6%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes increased by 7.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 2,139 | 1,678 | -21.6% |
Asking Price vs. Sold Price
1,060 Homes Were Sold
Under Asking
354 Homes Were Sold
At Asking
263 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Houston, you may be able to get a good deal. 63.2% of homes here sold below asking price last month.
Summary: A total of 1,678 homes were sold or pending in Houston in November 2024, down by 21.6% month-over-month. Of the 1,677 sold homes, 63% were sold under asking, 21% were sold at asking, and 16% were sold over asking.
Days on Market for Houston, TX
How long does it take to sell a home in Houston, TX?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 34 Days | 40 Days | +16.9% |
Summary: Homes in Houston had an average of 40 days on market in Nov 2024, up by 16.9% compared to last year.
Breakdown of Home Sale Times
940 Homes Were Sold
Under 30 Days
517 Homes Were Sold
In 30 - 90 Days
220 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Houston are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 1678 homes were sold in Houston; 56% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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Data provided by the Central Texas MLS IDX program. Information deemed reliable but not guaranteed. Some properties which appear for sale may no longer be available due to no longer being offered for sale. The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. ©2024 Central Texas MLS, All Rights Reserved.