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Texas Home Sales End 2023 Flat

published on January 30, 2024

Texas home sales were relatively flat to close 2023, with sales decreasing almost one percent month over month in November and prices falling 0.1 percent statewide, according to the Texas Real Estate Research Center’s latest Texas Housing Insight. Days on the market continued to decline to 51 days.

In Austin, home sales fell 4.4. percent. San Antonio experienced an 8.9 percent decrease, its second straight decrease. Dallas sales bolstered the state with a 2.3 percent increase.

Following its 0.1 percent decrease, Texas median price hit $334,600. About half of Texas home sales were in the $200k to $400k range. Dallas was the only big city to have an increase in home prices, with an increase of 0.9 percent. Austin had a 0 percent change, following decreases in 2023.

For seven straight months, average days on the market has declined statewide, moving from 59 to 51 days. Austin has the highest days on the market at 75, while San Antonio homes averaged 70 days. Dallas was much lower at 46 days, and Houston was lowest at 43 days.

Active listings statewide have increased for six straight months, hitting 104,058 listings – the first time in four years that available homes have been over 100,000. Austin added less than 100 homes to active listings for the third consecutive month, while Dallas added almost 2k listings for an increase of 9.1 percent. Statewide, active listings have returned to January 2019 levels.

In Austin, single-family construction permits declined 7 percent, and San Antonio permits declined 16 percent. Dallas permits grew by 1.3 percent, while Houston had a small 0.3 percent decline. Construction starts, however, showed an increase, with Dallas and Houston leading the way at 3,393 starts and 3,510 starts, respectively. Austin increased its lead over San Antonio with 1,647 starts, marking an almost 3:1 pace over its southern neighbor.

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