Zillow Metro Median Sale Price Per Square Foot in Houston, TX for New Construction Homes (Jan-Nov 2023)

Analysis Reveals Fluctuating Trends in Houston Real Estate Market: Median Sale Price Per Square Foot Examined

*Houston, TX – March 6, 2024*

The real estate market in Houston, Texas, is a cornerstone of the city’s economy, with trends in median sale prices per square foot serving as crucial indicators of market health. A comprehensive analysis of the metro new construction median sale price per square foot unveils intriguing insights into the market dynamics throughout 2023.

According to data provided by Zillow, the median sale price per square foot for newly built houses in Houston exhibited notable highs and lows over the course of the year. In January 2023, the median price stood at $169.99 per square foot, experiencing a modest increase to $172.11 in February. March saw a more significant uptick, with prices reaching $174.86 per square foot, marking one of the highest points of the year.

However, the market experienced a slight downturn in April, with the median price dropping to $172.71 per square foot. This trend reversed in May, as prices surged to $176.72 per square foot, reflecting a period of robust growth in the market. Despite this, the following months saw fluctuations, with median prices oscillating between $171.62 and $173.17 per square foot.

Analyzing the data further reveals interesting insights into monthly percentage changes. For instance, the months of February to March and April to May saw significant increases of 1.61% and 2.32%, respectively, indicating periods of notable growth in the market. Conversely, the months of May to June experienced a decrease of 2.87%, reflecting a brief cooling off period.

Despite these fluctuations, the overall trajectory of the market remained relatively stable, with the median sale price per square foot decreasing slightly from $169.99 in January to $168.54 in November.

Real estate experts emphasize the importance of understanding these trends for both buyers and sellers. For buyers, recognizing patterns in the market can help inform their purchasing decisions and identify potential opportunities for investment. Meanwhile, sellers can use this information to strategically price their properties and maximize their returns.

As we move further into 2024, it will be crucial for stakeholders in the Houston real estate market to continue monitoring these trends closely and adapt their strategies accordingly to navigate the ever-changing landscape of the industry.

For more information and updates on the Houston real estate market, stay tuned to trusted sources like Zillow and local real estate agencies.

Analysis of Metro New Construction Median Sale Price Per Square Foot in Houston, TX (Jan-Nov 2023)

The real estate market in Houston, Texas, is a significant driver of economic activity in the region, with trends in median sale prices per square foot impacting both buyers and sellers. A detailed analysis of the metro new construction median sale price per square foot provides valuable insights into the market dynamics throughout 2023.

Data Analysis

The monthly median sale price per square foot, rounded to two decimals, is as follows:

– January: $169.99
– February: $172.11
– March: $174.86
– April: $172.71
– May: $176.72
– June: $171.62
– July: $173.17
– August: $173.14
– September: $171.73
– October: $169.66
– November: $168.54

Trends and Relationships

The data reveals the following trends and relationships:
– Highs: May ($176.72) and March ($174.86).
– Lows: November ($168.54) and October ($169.66).
– Overall, there is a fluctuating pattern with periods of increase and decrease throughout the year.

Monthly Percentage Changes

The percentage changes from month to month are as follows:
– January to February: +1.25%
– February to March: +1.61%
– March to April: -1.23%
– April to May: +2.32%
– May to June: -2.87%
– June to July: +0.86%
– July to August: -0.02%
– August to September: -1.09%
– September to October: -1.33%
– October to November: -0.67%

Closing and Ending Figures

The starting price in January was $169.99, and the ending price in November was $168.54. The analysis of the metro new construction median sale price per square foot in Houston, TX, highlights the dynamic nature of the city’s real estate market. Understanding these trends is crucial for both buyers and sellers to make informed decisions and navigate the market effectively.