November 2024 Real Estate Market Update
As we move into the final stretch of 2024, Texas real estate markets are showing resilience and growth across major metropolitan areas. Let’s take a closer look at how key regions performed in November:
Austin – Round Rock – San Marcos
Property prices in the Austin area increased by 1.9% year-over-year, with a median price of $430,000. Homes are taking slightly longer to sell, averaging 77 days on the market compared to 74 days last year. Sales volume saw a significant boost, with 2,278 homes sold—up 9.3% from November 2023.
Houston – Pasadena – The Woodlands
In the Houston area, property prices rose 0.9% year-over-year to a median price of $328,000. Homes sold faster than in many other markets, averaging 51 days on the market, though slightly longer than last year’s 47 days. The number of homes sold increased by 4.8%, reaching 6,591 in November.
Dallas – Fort Worth – Arlington
The Dallas-Fort Worth market experienced a 1.3% increase in property prices compared to last year, with a median price of $395,000. Homes took an average of 57 days to sell, up from 46 days in November 2023. Sales volume surged, with 6,849 properties sold—a 14.2% year-over-year increase.
Bryan/College Station
Bryan/College Station saw the highest year-over-year price growth, with property prices up 2.5% to a median of $307,000. However, homes stayed on the market for an average of 76 days, a significant increase from 59 days last year. Sales volume grew by 6.5%, with 230 properties sold in November.
Texas Overall Market Trends
Texas remains a top destination, with over 2,000 more people moving into the state than leaving. Confidence in the economy is on the rise, fueled by strong consumer spending and a renewed sense of optimism. As “animal spirits” awaken, the real estate market is poised for further growth.
Learn More
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.
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