Texas Realtors Releases 2021-Q3 Edition Of The Texas Quarterly Housing Report.
The just-released Texas Quarterly Housing Report shows that while the market is trending towards stabilization and pre-pandemic levels, home prices are still rising and inventories are drying up.
Texas Home Sales Decrease, Median Price Rises
Since the third quarter of 2020, the median price for homes in all of Texas has risen 16.9% with an average price tag of $310,000. This number is right on track with the Q3 2021 national median home price of $310,500.
A majority of homes were sold between $200,000 and $299,999, with 29.5% of all homes sold in that price range.
Active listings are down 18.2% from Q3 2020, and closed sales are also down 3.5%. Most regions in the state are showing a decrease in both the number of active listings and the number of sales.
The average number of days that these homes are on the market is down to 26 days, with an average closing time of 39 days. These numbers combined, the time to sell a property is 24 days less than it was at this time last year.
According to economist James P. Gaines at the Real Estate Center at Texas A&M University, a housing market should have around 6.5 months of inventory to be considered balanced. However, just 1.6 months of inventory are available statewide, in comparison to the 2.3 months available in Q3 2020.
The Highest Performing Housing Markets In Texas Right Now
The housing market in Texas is hot right now, and these regions in particular are really feeling the heat in terms of price growth and inventory.
Austin – Roundrock MSA has shown the greatest price growth at 32.9% over last year. The median cost for a house there will set you back $465,000 — the highest in the state of Texas. Most homes in this area sell between $500,000 to $749,999. With only a little over one month of inventory, houses are going quickly — and staying on the market for an average of just two weeks. Despite the shortage of housing and rising prices, the amount of active listings is up 0.7%. With a bustling arts & culture scene and booming tech industries, it’s no wonder Austin has the highest home prices in the state.
Dallas – Fort Worth – Arlington MSA is also showing considerable growth. Their median price hit $354,900, 18.3% higher than this time last year. Due to the region’s shrinking inventory, both the number of active listings and the number of closed sales are down 28% and 9.3% respectively.
It’s A Seller’s Market
With some of the lowest property taxes in the nation, Texas has been a desirable location for those seeking an overall lower cost of living.
According to a redfin report, 33% of homes nationwide go under contract in under one week from the time it is listed.
Loan Ranger Capital’s hard money loans will ensure you can quickly get the funds to compete within this highly competitive market.
Now is a great time for investors to make a quick profit, particularly through fix and flip properties.
Let’s Get Started
Want to get in on the Lone Star State’s hot housing market?
If you’re looking to add to your real estate portfolio, enlist the help of an experienced realtor to help you find your next property, and contact us to learn how Loan Ranger Capital can help you finance your dreams through our loan options.
Be sure to check out our resource center to find out how you can make the most of those investments.
View Texas Realtors’ full Texas Quarterly Housing report here.
Here’s The Data
Statewide
Median price is up 16.9% at $310,000
A majority of homes sold for $200k-$299k (29.5%)
Active listings down 18.2% – 57,495
Closed sales down 3.5% – 115,272
Days on market 26, days to close 39, total 65 – 24 days less than 2020 Q3
1.6 months of inventory – 2.3 in 2020 Q3
Abilene MSA
Median price is up 5.6% at $210,000
A majority of homes sold for $100k-$199k (37.3%)
Active listings down 21.3% – 389
Closed sales down 1% – 798
Days on market 22, days to close 42, total 64 – 22 days less than 2020 Q3
1.6 months of inventory – 2.4 in 2020 Q3
Amarillo MSA
Median price is up 10.6% at $224,425
A majority of homes sold for $100k-$199k (34.9%)
Active listings down 31.2% – 402
Closed sales up 6.2% – 1,189
Days on market 21, days to close 38, total 59 – 22 days less than 2020 Q3
1.2 months of inventory – 2.0 in 2020 Q3
Austin – Round Rock MSA
Median price is up 32.9% at $465,000
A majority of homes sold for $500k-$749k (26.4%)
Active listings up 0.7% – 3,723
Closed sales down 7.1% – 11,524
Days on market 14, days to close 44, total 58 – 23 days less than 2020 Q3
1.1 months of inventory – 1.2 in 2020 Q3
Beaumont – Port Arthur MSA
Median price is up 11.9% at $199,900
A majority of homes sold for $100k-$199k (37.5%)
Active listings down 25.5% – 925
Closed sales up 6.6% – 1,205
Days on market 37, days to close 42, total 79 – 14 days less than 2020 Q3
2.6 months of inventory – 3.8 in 2020 Q3
Brownsville – Harlingen MSA
Median price is up 28.6% at $231,500
A majority of homes sold for $100k-$199k (35.1%)
Active listings down 42.2% – 485
Closed sales down 12.5% – 779
Days on market 52, days to close 30, total 82 – 56 days less than 2020 Q3
1.8 months of inventory – 3.7 in 2020 Q3
College Station – Bryan MSA
Median price is up 12.3% at $259,900
A majority of homes sold for $200k-$299k (43.3%)
Active listings down 54.4% – 468
Closed sales up 9.7% – 1,144
Days on market 32, days to close 46, total 78 – 31 days less than 2020 Q3
1.3 months of inventory – 3.8 in 2020 Q3
Corpus Christi MSA
Median price is up 8.3% at $259,900
A majority of homes sold for $200k-$299k (31.8%)
Active listings down 16.2% – 1,298
Closed sales down 6.4% – 1,955
Days on market 40, days to close 39, total 79 – 34 days less than 2020 Q3
2.1 months of inventory – 2.9 in 2020 Q3
Dallas – Fort Worth – Arlington
Median price is up 18.3% at $354,900
A majority of homes sold for $300k-$399k (27.3%)
Active listings down 28% – 12,166
Closed sales down 9.3% – 31,486
Days on market 20, days to close 35, total 55 – 21 days less than 2020 Q3
1.3 months of inventory – 1.9 in 2020 Q3
El Paso MSA
Median price is up 13.2% at $207,000
A majority of homes sold for $100k-$199k (43.5%)
Active listings down 15.1% – 1,144
Closed sales down 4.2% – 2,745
Days on market 36, days to close 56, total 92 – 21 days less than 2020 Q3
1.3 months of inventory – 1.7 in 2020 Q3
Houston – The Woodlands – Sugar Land MSA
Median price is up 15% at $305,000
A majority of homes sold for $200k-$299k (35.3%)
Active listings down 12.9% -16,912
Closed sales up 1.9% – 30,470
Days on market 27, days to close 39, total 66 – 24 days less than 2020 Q3
1.8 months of inventory – 2.5 in 2020 Q3
Killeen – Temple MSA
Median price is up 19.3% at $235,000
A majority of homes sold for $200k-$299k (43.1%)
Active listings down 13.5% – 518
Closed sales up 11% – 2,586
Days on market 22, days to close 36, total 58 – 26 days less than 2020 Q3
0.7 months of inventory – 1.0 in 2020 Q3
Laredo MSA
Median price is up 12.2% at $210,000
A majority of homes sold for $100k-$199k (37.5%)
Active listings down 22.8% – 237
Closed sales down 11.6% – 387
Days on market 37, days to close 53, total 90 – 11 days less than 2020 Q3
1.9 months of inventory – 2.7 in 2020 Q3
Longview MSA
Median price is up 19.4% at $215,000
A majority of homes sold for $100k-$199k (34.7%)
Active listings down 21.5% – 487
Closed sales down 1.6% – 673
Days on market 34, days to close 44, total 78 – 28 days less than 2020 Q3
2.3 months of inventory – 3.3 in 2020 Q3
Lubbock MSA
Median price is up 10.6% at $220,000
A majority of homes sold for $100k-$199k (36.8%)
Active listings down 6.8% – 592
Closed sales up 1.3% – 1,526
Days on market 21, days to close 35, total 56 – 8 days less than 2020 Q3
1.3 months of inventory – 1.6 in 2020 Q3
McAllen-Edinburg-Mission MSA
Median price is up 15.3% at $200,000
A majority of homes sold for $100k-$199k (42.6%)
Active listings down 17.1% – 846
Closed sales up 0.9% – 1,124
Days on market 52, days to close 37, total 89 – 27 days less than 2020 Q3
2.4 months of inventory – 3.4 in 2020 Q3
Midland MSA
Median price is up 2.6% at $313,000
A majority of homes sold for $200k-$299k (33.8%)
Active listings down 10.3% – 761
Closed sales up 8.5% – 847
Days on market 46, days to close 37, total 83 – 5 days less than 2020 Q3
3.1 months of inventory – 3.9 in 2020 Q3
Odessa MSA
Median price is flat 0% at $225,000
A majority of homes sold for $200k-$299k (42.1%)
Active listings up 14.9% – 549
Closed sales up 20.4% – 484
Days on market 53, days to close 39, total 92 – 10 days MORE than 2020 Q3
3.8 months of inventory – 4.1 in 2020 Q3
San Angelo MSA
Median price is up 2.8% at $226,000
A majority of homes sold for $200k-$299k (35.5%)
Active listings up 6.3% – 221
Closed sales up 7.8% – 565
Days on market 19, days to close 40, total 59 – 25 days less than 2020 Q3
1.4 months of inventory – 1.4 in 2020 Q3
San Antonio-New Braunfels MSA
Median price is up 15.7% at $295,000
A majority of homes sold for $200k-$299k (37.5%)
Active listings down 14.7% – 6,069
Closed sales down 3.9% – 11,643
Days on market 26, days to close 43, total 69 – 27 days less than 2020 Q3
1.7 months of inventory – 2.2 in 2020 Q3
Sherman-Denison MSA
Median price is up 20.2% at $246,500
A majority of homes sold for $200k-$299k (31.9%)
Active listings down 15.5% – 413
Closed sales down 6.2% – 697
Days on market 24, days to close 38, total 62 – 29 days less than 2020 Q3
2.0 months of inventory – 2.6 in 2020 Q3
Texarkana MSA
Median price is up 12.5% at $193,500
A majority of homes sold for $100k-$199k (34.8%)
Active listings down 28.9% – 199
Closed sales down 3.2% – 239
Days on market 39, days to close 44, total 83 – 28 days less than 2020 Q3
2.9 months of inventory – 4.3 in 2020 Q3
Tyler MSA
Median price is up 13.7% at $267,250
A majority of homes sold for $100k-$199k (35.9%)
Active listings down 35.5% – 466
Closed sales down 5.4% – 955
Days on market 26, days to close 41, total 67 – 28 days less than 2020 Q3
1.6 months of inventory – 2.7 in 2020 Q3
Victoria MSA
Median price is up 13.6% at $221,500
A majority of homes sold for $200k-$299k (36.7%)
Active listings down 13.5% – 192
Closed sales up 5.3% – 299
Days on market 53, days to close 24, total 77 – 12 days less than 2020 Q3
2.1 months of inventory – 2.7 in 2020 Q3
Waco MSA
Median price is up 17.5% at $255,000
A majority of homes sold for $200k-$299k (35.5%)
Active listings down 21.9% – 361
Closed sales down 8.9% – 948
Days on market 19, days to close 38, total 57 – 25 days less than 2020 Q3
1.2 months of inventory – 1.7 in 2020 Q3
Wichita Falls MSA
Median price is up 13.4% at $169,970
A majority of homes sold for $100k-$199k (44.4%)
Active listings up 13.5% – 303
Closed sales up 8.2% – 650
Days on market 17, days to close 36, total 53 – 11 days less than 2020 Q3
1.6 months of inventory – 1.7 in 2020 Q3
About the data used in this report
Data used in this report come from the Texas REALTOR® Data Relevance Project, a partnership among the Texas Association of REALTORS® and local REALTOR® associations throughout the state. Analysis is provided through a research agreement with the Real Estate Center at Texas A&M University.