About one in four homes sold in Texas in the last decade were sold in the Greater Houston area. Between 2011 and 2020, 811,105 homes were sold in the Houston–The Woodlands–Sugar Land metropolitan statistical area, according to a report released Thursday by Texas Realtors.
The report, “A Decade in Texas Real Estate,” provides real estate sales data for Texas and 25 metropolitan statistical areas in Texas from 2011 to 2020. Real estate sales that occurred outside of an MLS are not reflected in the report.
During the 10 year period between 2011 and 2020, the Greater Houston area’s median home price increased $105,500 from $154,500 in 2011 to $260,000 in 2020 -- a 68% increase.
All in all, 3,118,089 homes were sold in Texas during the decade, according to the report. Meanwhile, median home price in the state increased $112,200 from $146,988 at the end of 2011 to $259,188 at the end of 2020 -- a 76% jump.
Three-quarters of the Texas homes sold in the past decade were located in the state’s four largest metro areas -- Austin-Round Rock, Dallas-Fort Worth-Arlington, Houston-The Woodlands-Sugarland, San Antonio-New Braunfels. Recording 923,528 home sales, the Dallas-Fort Worth-Arlington metro area sold the most homes during the ten-year period.
The report also details how the time homes spent on the market decreased both in the Houston area and statewide.
In 2011, Texas homes spent an average 93 days on the market. That metric dipped 44% to 55 days in 2020. Comparatively, Houston homes spent an average of 89 days on the market in 2011 and an average of 54 days on the market in 2020.
Meanwhile, the average price per square foot climbed more than 40% to a median $141 statewide while in Houston the average price per square foot increased from $83 in 2011 to $133 in 2020.
“We’ve had a dynamic real estate market in Texas over the past decade,” Marvin Jolly, chairman of Texas Realtors, said in a statement. “Some of the factors that have affected real estate transactions and property ownership include significant population growth, natural disasters big and small, new home technologies, and, of course, the pandemic. Through it all, Realtors have helped buyers, sellers, and property owners achieve their goals.”
Read the full report here.