Top Real Estate Agents in Houston, Texas

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2023 Houston, Texas Housing Market Summary

Houston, Texas started 2023 with a total of 4,439 single-family homes on the market, with a median home price of $359,000 and an average price per square foot of $217. By the end of the year, inventory had increased to 5,388 homes on the market (+21%), with a median home price of $359,000 (+0%) and an average price per square foot of $223 (+2%).

At the start of 2023, the median days on market (DOM) was 77 days – by the end of the year, median DOM had remained the same at 77 days.

Houston started the year with 43% of homes taking a price cut (for reference, 35% is the national average for price reductions in a ‘normal’ year.) By the end of the year, about 41% of Houston homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Houston started 2023 as a seller’s market, with an MAI score of 40; by the end of the year, the MAI had dropped to 34 – a balanced buyer and seller’s market.

This market summary is powered by Altos Research – click here to run a free report for your area.

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