Greater Houston August 2023 Real Estate Market Update

You are currently viewing Greater Houston August 2023 Real Estate Market Update
  • Single-family home sales were down 8.5 percent year-over-year, the 16th consecutive month of slowing sales volume, however there continued to be signs of overall improvement to the local housing market;
  • The 8.5 percent decline is the smallest since the market registered a 7.6 percent drop in June 2022;
  • Days on Market (DOM) for single-family homes rose from 27 to 42 days;
  • Total property sales fell 8.3 percent with 9,223 units sold;
  • Total dollar volume dropped 8.8 percent to $3.7 billion;
  • The single-family average price edged up 0.6 percent to $428,140; 
  • Single-family home months of inventory registered a 3.2-months supply, up from 2.4 months a year earlier – the biggest supply in three years;
  • Townhome/condominium sales experienced their 14h straight monthly decline, falling 9.8 percent, but the average price up 2.1 percent to $263,876.