March 06, 2025 — Austin

Texas home sales and prices remained steady in 2024, with small overall increases, according to the 2024 Texas Real Estate Year in Review report released today by Texas REALTORS®. The number of listings and average days on the market increased significantly, giving buyers in many markets more properties to consider.

Sales and prices inch up

The number of homes sold was up in 14 markets and down in 12. Differences were generally modest in both directions. The highest gain was 4.3% in the Lubbock metro area, while the greatest decline was 6.8% in Beaumont-Port Arthur. Statewide, there was a marginal increase (0.7%) in home sales.

The statewide median home price increased 1.2%, with 20 markets up, 4 markets down, and 2 flat. The highest gain was in Odessa (up 11%), while the largest dip was in Austin-Round Rock-San Marcos (down 2.2%). Homes in Austin-Round Rock-San Marcos were still the most expensive in the state, with a median price of $440,000. The lowest median home price was $195,000 in Wichita Falls.

The median price per square foot of Texas homes also increased slightly (0.7%), with increases in 22 markets and decreases in 4 markets. While the median price per square foot of Texas homes did not increase much overall in 2024, it is up 50.9% since 2017.

“Coming out of the pandemic, many buyers sat on the sidelines in 2024 with home prices staying high,” said Christy Gessler, Chairman of Texas REALTORS®. “Interest rates stabilized but were still higher than the historic low rates that so many buyers capitalized on previously. Additionally, inflation kept a lot of buyers out of the market in 2024.”

Home availability increases

Months of inventory, or how long it would take the existing homes on the market to sell at the current rate of sales, was 4.1 statewide, an increase from 3.4 in 2023. Four to five months of inventory generally indicates a market balanced between supply and demand, according to analysts at the Texas Real Estate Research Center. Every market saw a rise in months of inventory, except Victoria (unchanged) and Odessa (down 0.3%).

There were more homes on the market at the end of 2024 compared to the same time the previous year, with a statewide increase of 30.5% in active listings. All markets except Odessa saw increases.

“Texas REALTORS® care deeply and work hard to expand the opportunities for homeownership,” says Gessler. “And they are ready to assist you in all phases of the homebuying and selling process.”