Despite Declining Sales, The Houston Housing Market Ends 2023 On Solid Footing

[Jhoana Olarte]

• 2023 marked the second consecutive year of declining home sales with 83,854 single-family homes sold versus 95,302 in 2022 – a decline of 12.0 percent; .
• Total dollar volume for full-year 2023 fell 12.6 percent to $40B;
• December single-family home sales fell 6.2 percent year-over-year with 6,103 units sold;
• Total December property sales declined 4.9 percent to 7,395 units;
• Total dollar volume for December fell 3.7 percent to $2.9B;
• At $330,000, the single-family home median price was unchanged;
• The single-family home average price was also unchanged at $407,817;
• Single-family homes months of inventory expanded to a 3.3-months supply;
• The townhome/condominium market experienced declining sales throughout 2023, and in December, volume fell 7.0 percent with the average price up 6.7 percent to $258,137 and the median price down 9.3 percent to $235,000;
• Townhome/condominium inventory grew from a 2.0-months supply to 3.5 months.

SOURCE HAR