Houston Housing Stats October, 2023

[Sharon Tzib]

https://www.har.com/content/department/newsroom?pid=1999

Houston Real Estate Highlights in October, 2023:

• -Single-family home sales fell 3.4 percent year-over-year, the smallest one-month sales drop of 2023 and the 19th consecutive month of declines;
• -Compared to October 2019, before the pandemic, sales were down 11.3 percent, and compared to October 2018, five years back, they were down 4.6 percent;
• -Days on Market (DOM) for single-family homes rose from 43 to 47 days;
• -Total property sales fell 4.3 percent with 7,825 units sold;
• -Total dollar volume dropped 2.6 percent to $2.98 billion;
• -The single-family median price fell a fractional 0.9 percent to $327,000;
• -The single-family average price rose a fractional 0.4 percent to $403,556;
• -Single-family home months of inventory registered a 3.6-months supply, up from 2.8 months a year earlier – the highest level since November 2019 when it also was 3.6 months;
• -Townhome/condominium sales experienced their 17th straight monthly decline, falling 16.4 percent, with the median price up 6.6 percent to $239,900 and the average price up 1.2 percent to $272,597;
• -Compared to pre-pandemic 2019, townhome and condominium sales were down 10.5 percent.