Houston -The Woodlands – Sugar Land Real Estate Market Report – June 2023
The Houston real estate market in June 2023 continued to exhibit positive trends:
- Median Price: The median price increased to $341,500, reflecting a 0.4% growth from the previous month.
- Closed Sales: There were 8,787 closed sales, indicating robust buyer activity and a sustained level of transactions.
- Active Listings: The number of active listings increased to 21,861, providing a healthy supply of available properties.
- Months Inventory: The months inventory remained at 3 months, indicating a balanced market.
- Days on Market: The average number of days on the market decreased to 43, showing strong buyer demand and faster sales.
- Days to Close: The average number of days to close a sale remained steady at 35, suggesting an efficient real estate process.
- Median Price/Sq Ft: The median price per square foot increased to $164.74, reflecting buyers’ willingness to pay more for properties.
- Median Home Size and Year Built: The median home size remained stable at 2,126 square feet, with a median year built of 2005.
- Close/Original List Price: The close/original list price ratio improved to 96.6%, benefiting sellers.
Overall, the Houston real estate market in June 2023 showed positive growth, with a slight increase in median price and a sustained level of closed sales. The healthy supply of active listings and steady months inventory indicate a balanced market. The decreased days on market and consistent days to close suggest strong buyer interest and an efficient real estate process. The increase in median price per square foot reflects buyers’ willingness to invest in the market. The Houston market remains favorable for sellers, with a higher close/original list price ratio. The outlook for the Houston real estate market continues to be positive, providing opportunities for both buyers and sellers.
If you are thinking about buying or selling in the Houston area, it is important to work with a qualified realtor who can help you navigate the current market conditions. Schedule a consultation here.
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The Texas Real Estate Research Center is a valuable resource for real estate professionals, investors, and anyone interested in learning more about the Texas real estate market.
https://www.recenter.tamu.edu/
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