Market Trends by Neighborhood
Housing in Houston has experienced historic appreciation since the pandemic struck in early 2020. The average price of a single-family home rose 11.6 percent in September to $414,776 – well below the record high of $438,384 reached in May 2022. The median price jumped 14.7 percent to $343,950, which is also below the highest median of all time, $354,100, reached in June 2022. The average price for a single-family home in Houston first broke the $400,000 mark in March of this year. The median price has held above $300,000 since May 2021.
“The Houston housing market consists of many concurrent trends,” said HAR Chair Jennifer Wauhob with Better Homes and Gardens Real Estate Gary Greene. “The high end of the market continues to perform well, as is the rental market. But because of a lack of homes priced below $400,000, the market as a whole is slowing to levels we were accustomed to before the
pandemic. The most encouraging news of all is the gradual build-back of inventory, which should yield more options for consumers going forward.”
Broken out by housing segment, September sales performed as follows:
$1 – $99,999: decreased 31.7 percent
$100,000 – $149,999: decreased 25.5 percent
$150,000 – $249,999: decreased 44.7 percent
$250,000 – $499,999: decreased 11.3 percent
$500,000 – $999,999: increased 12.6 percent
$1M and above: increased 7.2 percent
