Greater Houston March 2023 Real Estate Market Update

• Single-family home sales fell 29.9 percent year-over-year, as the market tries to recover from economic headwinds;
• All housing segments experienced negative sales. 
• Days on Market (DOM) for single-family homes went from 39 to 59 days;
• Total property sales fell 30.9 percent with 5,650 units sold;
• Total dollar volume dropped 30.9 percent to $2.0 billion;
• The single-family average price rose 1.5 percent to $381,983; 
• The single-family median price increased 1.6 percent to $315,000;
• 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 eighth straight monthly decline, falling 37.1 percent, with the average price down 4.3 percent to $230,775 and the median price up 7.7 percent to $191,000.