Texas Real Estate Market Report – March 2024

Data used in this report come from the Texas REALTOR^Ⓡ Data Relevance Project, a partnership among The Texas Association of REALTORS^Ⓡ and local REALTOR^Ⓡ associations 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 March 2024 was $337,900 statewide, showing an increase of 2.4% compared to March 2023.

Days on Market

The days on market decreased from 64 in March 2023 to 62 in March 2024. Taking the number of days to close into consideration, it took an average of 5 days less than in March of last year to sell a property. 

Months of Inventory

The months of inventory stood at 2.7 in March 2023 compared to 3.8 in March 2024. (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 March 2024 were in the $200,000 – $399,999 price range. At the lowest and highest ends of the price distribution, 12.4% of homes were sold for under $200,000, while 3.8% sold for at least $1 million. 

Area Overview

Burleson County

• 13 – Residential homes sold, 27.8% less than March 2023.
• $450,000 – Median price for residential homes, 56.6% increase from March 2023.
• 112 – Active home listings on the market, 41.8% more than March 2023.
• 160 – Days on the market combined with days to close, 5 days more than March 2023.
• 6.1 – Months of inventory, 2.1 months more than March 2023.

Brazos County

• 279 – Residential homes sold, 0% change from March 2023.
• $325,000 – Median price for residential homes, 10.2% more than March 2023.
• 827 – Active home listings on the market, 66.7% more than March 2023.
• 102 – Days on market combined with days to close, 6 fewer days than March 2023.
• 3.5 – Months of inventory, 1.7 months more than March 2023.

City of Bryan

• 86 – Residential homes sold, 8.9% more than March 2023.
• $280,000 – Median price for residential homes, 12% more than March 2023.
• 258 – Active home listings on the market, 73.2% more than March 2023.
• 91 – Days on market combined with days to close, 9 days more than March 2023. 
• 3.3 – Months of inventory, 1.7 months more than March 2023.

City of College Station

• 125 – Residential homes sold, 8.1% less than March 2023.
• $335,000 – Median price for residential homes, 9.7% more than March 2023.
• 368 – Active home listings on the market, 107.9% more than March 2023.
• 88 – Days on market combined with days to close, 15 fewer days than March 2023.
• 3.4 – Months of inventory, 2.1 months more than March 2023.

Austin County

• 38 – Residential homes sold, 9.5% less than March 2023.
• $284,990 – Median price for residential homes, 6.2% less than March 2023.
• 118 – Active home listings on the market, 13.2% less than March 2023.
• 122 – Days on market combined with days to close, 4 fewer days than March 2023.
• 3.7 – Months of inventory, 1 month less than March 2023.

Colorado County

• 16 – Residential homes sold, 23.1% more than March 2023.
• $178,750 – Median price for residential homes, 23.9% less than March 2023.
• 77 – Active home listings on the market, 28.3% more than March 2023.
• 107 – Days on market combined with days to close, 37 fewer days than March 2023.
• 5.3 – Months of inventory, 0.2 months more than March 2023.

Fayette County

• 14 – Residential homes sold, 30% less than March 2023.
• $230,000 – Median price for residential homes, 32.4% less than March 2023.
• 130 – Active home listings on the market, 28.7% more than March 2023.
• 175 – Days on market combined with days to close, 47 more days than March 2023.
• 7.6 – Months of inventory, 2.1 months more than March 2023.

Lee County

• 9 – Residential homes sold, 80% more than March 2023.
• $285,000 – Median price for residential homes, 6.3% more than March 2023.
• 33 – Active home listings on the market, 10% more than March 2023.
• 80 – Days on market combined with days to close, 37 fewer days than March 2023.
• 3.9 – Months of inventory, 0.9 months more than March 2023.

Washington County

• 41 – Residential homes sold, 4.7% less than March 2023.
• $277,945 – Median price for residential homes, 9.8% less than March 2023.
• 144 – Active home listings on the market, 42.6% more than March 2023.
• 108 – Days on market combined with days to close, 23 fewer days than March 2023.
• 4.8 – Months of inventory. 2.2 months more than March 2023.