Greater Houston April 2023 Real Estate Market Update

• Single-family home sales fell 18.3 percent year-over-year, as the market continues its gradual return to normalcy;
• Compared to pre-pandemic 2019, single-family home sales rose 13.0 percent;
• Days on Market (DOM) for single-family homes rose from 38 to 62 days;
• Total property sales fell 20.9 percent with 9,589 units sold;
• Total dollar volume dropped 20.2 percent to $3.7 billion;
•The single-family average price was statistically flat at $408,647;
• Single-family home months of inventory registered a 2.7-months supply, up from 1.1 months a year earlier;
• Single-family home months of inventory registered a 2.7-months supply, up from 1.3 months a year earlier;
•Townhome/condominium sales experienced their 10th straight monthly decline, falling 35.3 percent, but the average price up 6.0 percent to $270,294;
•Compared to pre-pandemic 2019, townhome and condominium sales were unchanged.