Texas housing market more balanced in 1Q2023

​AUSTIN – The number of active listings and the average number of days Texas homes spent on the market in first quarter 2023 increased from first quarter 2022, according to Texas Realtors’ latest 2023-Q1 Quarterly Housing Report. T​he median price of Texas homes remained nearly unchanged.

​Texas homes spent an average of 64 days on the market before going under contract, 27 days more than in first quarter 2022. 

The median sales price of Texas homes reached $326,800 during first quarter 2023, a 0.6 percent increase over the same period last year.

Almost 72,500 homes were sold in Texas in the first quarter, down 17 percent from a year ago. More than half of the homes sold in Texas were in the $200,000-$399,000 price range.

Months of inventory increased from 1.1 months to 2.7 months.

For more on the state’s housing market, read the Texas Real Estate Center’s Texas Housing Insight report​.