Top Real Estate Agents in Texas

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2023 Texas Housing Market Summary

Texas started 2023 with a total of 62,890 single-family homes on the market, with a median home price of $365,000 and an average price per square foot of $209. By the end of the year, inventory had increased to 80,900 homes on the market (+28%), with a median home price of $369,170 (+1%) and an average price per square foot of $215 (+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.

Texas started the year with 40% 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 36% of Texas homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Texas started 2023 as a seller’s market, with an MAI score of 41; by the end of the year, the MAI had dropped to 35 – a slight seller’s advantage.

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

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