Single-family home sales decreased year over year by 8.3% from 8,006 in August 2023 to 7,240 in August 2024, according to the August market update released Sept. 11 from the Houston Association of Realtors.

Meanwhile, the average price of a single-family home increased 0.9% from $418,064 in August 2023 to $421,912 in August 2024, according to the report.

The details

Total property sales declined for the fourth consecutive month and were down 11.2% from the same time last year.

According to the report, sales in August for homes priced between:

• $1-$99,999 decreased 4.7%
• $100,000-$149,999 decreased 13.25%
• $150,000-$249,999 decreased 11.6%
• $250,000-$499,999 decreased 6.5%
• $500,000-$999,999 decreased 11.4%
• $1 million-plus increased 2%

Active listings in Houston are at its highest since July 2011, with 30,841 single-family homes available, and active listings are up 34.6% from August 2023, according to the report.

Quote of note

“Although sales have slowed, the Houston housing market is still in good shape,” HAR Chair Thomas Mouton said via news release. “Expanding inventory and easing mortgage rates are offering buyers more opportunities.”