Texas Real Estate Housing Report – September 2023
Data used in this report come from the Texas REALTOR® Data Relevance Project, a partnership among the Texas Assocation of REALTORS® and local REALTOR® assocations throughout the state. Analysis is provided through a research agreement with the Real Estate Center at Texas A&M University.
Texas Statewide Insights
Median Home Price
The median home price in 2023 Q3 was $340,000 statewide, showing a slight drop of 1.5% compared to the same quarter last year. However, more Texas metros saw median prices go up than down.
Days on Market
The days on market increased from 31 in 2022 Q3 to 48 in 2023 Q3. Taking the number of days to close into consideration, it took an average of 11 days more than the same quarter last year to sell a property.
Months of Inventory
The months of inventory stood at 3.7 in 2023 Q3 compared to 2.7 in 2022 Q3. (Months of inventory measures how long it would take to sell the existing number of homes on the market at the current pace of sales.) This marks a shift toward a more balanced market, though many economists consider a balanced market to be about six months of supply.
Price Range Availability
Half of homes sold in the third quarter were in the $200,000 – $399,999 price range. At the lowest and highest ends of the price distribution, 13% of homes were sold for under $200,000, while 4% sold for at least $1 million.
Area Overview
Burleson County
- 16 – Residential homes sold, 30.4% less than September 2022.
- $247,450 – Median price for residential homes, 12.9% less than September 2022.
- 100 – Active home listings on the market, 33.3% more than September 2022.
- 104 – Days on market combined with days to close, 21 days more than September 2022.
- 5.3 – Months of inventory, 2.1 months more than September 2022.
Brazos County
- 173 – Residential homes sold, 24.8% less than September 2022.
- $330,000 – Median price for residential homes, 13.2% more than September 2022.
- 807 – Active home listings on the market, 23.6% more than September 2022.
- 88 – Days on market combined with days to close, 17 more days than September 2022.
- 3.3 – Months of inventory, 1.1 months more than September 2022.
City of Bryan
- 49 – Residential homes sold, 40.2% less than September 2022.
- $279,000 – Median price for residential homes, 7.5% more than September 2022.
- 273 – Active home listings on the market, 31.9% more than September 2022.
- 75 – Days on market combined with days to close, 9 more days than September 2022.
- 3.5 – Months of inventory, 1.6 months more than September 2022.
City of College Station
- 77 – Residential homes sold, 32.5% less than September 2022.
- $338,000 – Median price for residential homes, 12.9% more than September 2022.
- 310 – Active home listings on the market, 20.2% more than September 2022.
- 82 – Days on market combined with days to close, 13 more days than September 2022.
- 2.8 – Months of inventory, 1 month more than September 2022.
Austin County
- 19 – Residential homes sold, 13.6% less than September 2022.
- $255,995 – Median price for residential homes, 16.9% less than September 2022.
- 128 – Active home listings on the market, 4.9% more than September 2022.
- 85 – Days on market combined with days to close, 45 more days than September 2022.
- 4.4 – Months of inventory, 0.5 months more than September 2022.
Bastrop County
- 133 – Residential homes sold, 11.9% less than September 2022.
- $340,000 – Median price for residential homes, 10.7% less than September 2022.
- 610 – Active home listings on the market, 23.5% more than September 2022.
- 122 – Days on market combined with days to close, 15 more days than September 2022.
- 5.0 – Months of inventory, 1.2 months more than September 2022.
Colorado County
- 14 – Residential homes sold, 27.3% more than September 2022.
- $227,500 – Median price for residential homes, 4.4% less than September 2022.
- 74 – Active home listings on the market, 34.6% more than September 2022.
- 102 – Days on market combined with days to close, 22 more days than September 2022.
- 5.5 – Months of inventory, 1.2 months more than September 2022.
Fayette County
- 19 – Residential homes sold, 0% change from September 2022.
- $262,500 – Median price for residential homes, 12.5% less than September 2022.
- 117 – Active home listings on the market, 42.7% more than September 2022.
- 118 – Days on market combined with days to close, 49 more days than September 2022.
- 7.1 – Months of inventory, 3 months more than September 2022.
Lee County
- 6 – Residential homes sold, 60% less than September 2022.
- $366,500 – Median price for residential homes, 24.2% more than September 2022.
- 46 – Active home listings on the market, 31.4% more than September 2022.
- 112 – Days on market combined with days to close, 17 more days than September 2022.
- 5.5 – Months of inventory, 2.4 months more than September 2022.
Washington County
- 27 – Residential homes sold, 34.2% less than September 2022.
- $294,000 – Median price for residential homes, 6.2% less than September 2022.
- 152 – Active home listings on the market, 22.6% more than September 2022.
- 88 – Days on market combined with days to close, 3 more days than September 2022.
- 4.5 – Months of inventory, 1.6 months more than September 2022.
