Top Small Teams in Texas – Ranked By Sides

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2022 Market Summary

Texas started 2022 with a total of 36,708 single-family homes on the market, with a median home price of $349,900 and an average price per square foot of $201. By the end of the year, inventory had increased to 65,501 homes on the market (+78%), with a median home price of $365,000 (+4%) and an average price per square foot of $210 (+4%).

At the start of 2022, the median days on market (DOM) was 56 days – by the end of the year, median DOM had increased to 77 days.

Texas started the year with 21% 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 Texas homes for sale had taken a price cut.

Finally, Altos’ proprietary Market Action Index (MAI) shows that Texas started 2022 as a seller’s market, with an MAI score of 42; by the end of the year, the MAI had dropped to 32 – 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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