Houston TX Real Estate - Houston TX Homes For Sale | Zillow (2024)

FAQs

Are home prices dropping in Houston? ›

The median price of a single-family home sold through the MLS was $345,500 in June, up $2,500 (0.7 percent) compared to last year but down $8,500 (2.4 percent) from June '23. Over the past 12 months, the median price of a single-family home has hovered between $320,000 and $345,000.

A business-friendly climate with relaxed construction regulations and lower labor costs, in addition to a favorable tax structure with no state income tax and lower property taxes, contributes to making Texas housing more affordable.

With the information provided above, you can now see that the answer to the question “Is Houston a good place to invest in real estate in 2023?” is a resounding “Yes!” When evaluating investment property Houston, some factors to consider are the local real estate market, loan availability, rental opportunities, ...

Houston's median sale price is 19% lower than the national average. Overall cost of living in Houston is 6% lower than the national average. Learn which home features in Houston add value to a home. How much is your home worth?

Richmond, Texas

Richmond is also considered one of the best Houston suburbs because of its master-planned communities, easy access to good employment opportunities, quality schools, city parks, excellent trail system for hiking and biking, golf courses, and shopping and dining venues.

Houston certainly has a lot going for it, like warm weather, lots of cultural cuisine, and a thriving job market. And while there are disadvantages to living in any city, Houston's pros outweigh the cons, especially if you're looking to find an affordable place to live where there's always something fun to do.

Q: Is Houston or Dallas safer? A: Dallas is likely the safer city than Houston. Houston experiences a higher volume of violent crime incidents than Dallas does. The violent crime in both cities exceeds the national average, but Houston's is still higher.

Is it cheaper to live in Dallas or Houston? ›

The cost of living is around 5% higher in Dallas than it is in Houston. It is in housing where the cost difference is most apparent; however, transportation, food, and healthcare all tend to be slightly higher in Dallas. Thus, living in Houston is a bit cheaper, but both cities offer a very affordable cost of living.

Down Payment: With an FHA loan, you can put as little as 3 percent down to purchase a home (plus closing costs—although the seller may be able to assist with those). Non-FHA mortgages will require 10% to 20% down (25% down if purchasing a multi-unit property for use as an investment property).

According to the report, the Space City section in Houston ranks as the No. 1 riskiest city, as 98% of homes are at risk of extreme heat, and 64% are at risk of severe flooding within the next three decades.

Summary: Houston housing prices by bedroom type for July 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.5%, 2 bedroom homes increased by 2.6%, 3 bedroom homes decreased by 0.8%, 4 bedroom homes did not change, and 5+ bedroom homes decreased by 4.2%.

Only 38% of Houston-area households could realistically afford the typical monthly payment (about $2,460) on a median-price Houston home, including taxes and insurance. HAR's estimate assumes a buyer with a 30-year mortgage with a fixed rate of 7.3% and a 20% down payment.

Sale-to-list price ratio: 99.17% Homes in Houston, TX sold for approximately the asking price on average in June 2024. Houston, TX is a buyer's market in June 2024, which means that the supply of homes is greater than the demand for homes.

Best Time to Sell Your House for Higher Price

April, May, and June are the best months to sell your house in Houston. The median sale price of houses in May 2023, was $346,000, which is expected to rise more in 2024. However, cities like Tiki Island and Galena Park follow an upward trend throughout the year.

Prices will relax, but not crash.

Prices have relaxed in Texas and gone down slightly in many cities, but you should expect prices to go up some in 2024. Currently, the market has about 3.7 months of home inventory.

The median sale price of a home in Texas was $354,800 in June, according to the real estate brokerage, down 0.94 percent year-over-year. It is the first drop since prices started climbing back in the state in October 2023, and it goes against the national trend.