The average price of single-family homes in Houston reached an all-time high of $443,970 in May, according to the May market update released June 12 from the Houston Association of Realtors.
By the numbers
According to HAR's May market update:
- This May’s average single-family home price topped the previous record of $438,350 from May 2022.
- The average home price is up 3.6% year over year.
- The median home price increased 1.5% to $345,000 year over year.
Also of note
Despite severe weather and power outages, the number of active listings in Houston is up 46.8% since last May, with 28,481 active listings—the highest since April 2020, according to the market update. Additionally:
- New listings in May saw a 21.6% increase from last May, up from 12,568 to 15,280.
- Sales of homes priced $1 million or more increased 9.6%.
- Single-family home closings declined 1.5% year over year, down from 8,664 to 8,538.
- Severe weather conditions and power outages in May caused a 5.4% decrease in property showings, down from 191,392 to 180,974.
HAR Chair Thomas Mouton said in the news release the Houston housing market has demonstrated its adaptability “yet again.”
“While the weather disruptions may have impacted some sales, there continued to be strong activity with a rise in available listings and persistent buyer interest,” Mouton said in a statement. “We are beginning to see a more balanced market pace, benefiting both buyers with more options and sellers with sustained demand.”
