In August, home prices fell substantially from the month before, with a median listing price of $330,000.
The number of listings on the market grew 1.7% from last month, which is a smaller increase than normal for this time of the year in Houston, and homes are also selling close to the same pace as the same time last year.
Home prices in Houston
Typically, home price per square foot in Houston tend to fall in August. And the most recent data shows that the price per square foot decreased by 1.5% compared with the month before.
So, how does this compare with the rest of the U.S.? Nationally, home price per square foot decreased 1.2%, which means price changes in Space City are larger the national market.
Houston inventory
In August, there were 11,553 homes for sale in Houston, which was 1.7% more than the month before and 31.9% more than the same time last year.
Meanwhile, active inventory across the nation fell by 0.4% from last month to 1,098,681.
The number of new listings in Houston was 3,132, which was 8.6% less than the month before and 3.8% more than the same time last year.
Nationally, the number of new listings fell by 7.5% from last month to 402,268.
Time on market
Homes in Houston take an average of 50 days to sell, according to August figures.
This is one day more than the previous month and one day more than the same month last year.
For comparison, nationally homes spent an average of 60 days on the market in August.
Use the Realtor.com data portal to get more market data, broken down by state, metro or ZIP code.
* Here’s a live look at popular listings and recent home sales in Houston, TX.