Single-Family Homes Update- HAR Report
Single-family home sales fell 3.8 percent year-over-year in August with 7,983 units sold across the Greater Houston area compared to 8,301 in 2022. Pricing continues to settle after soaring to record highs last spring. The August average price rose 2.5 percent to $420,124 while the median price was statistically flat at $339,000.
For a pre-pandemic perspective, August closings were 8.0 percent below August 2019’s total of 8,673. The August 2023 median price of $339,000 is 35.6 percent higher than it was in 2019 ($249,975) and today’s average price of $420,124 is 35.5 percent higher than it was then ($310,139). Sales are 4.5 percent below where they were five years ago, in August 2018, when volume totaled 8,355. Back then, the median price was $238,200 and the average price was $300,169.