Houston Real Estate - 852 Listings 3-8 Months of Supply and a 34K Price Gap

Houston's market currently holds 852 active listings, and at a sales pace of roughly 225 homes per month, that puts months of supply at 3.8 — a level that generally tilts leverage toward sellers. That said, the picture is more nuanced than the headline number suggests. With average days on market sitting at 74 days, homes are not flying off the shelves; the median days on market is 32, which tells you that a segment of well-positioned listings moves relatively quickly while a meaningful portion sits longer and pulls the average up. Buyers have real options to choose from, and sellers who price and present competitively are getting results — those who don't are waiting.

The median list price across active Houston inventory is $277,000, while the median sold price over the last 12 months is $311,584 — a gap of about $34,584. That gap is not a sign that buyers are routinely bidding over ask; it more likely reflects the mix of what's actually selling versus what's sitting. The hard number to watch is the at-or-above-asking close rate: only 20 percent of homes are closing at or above list price, which means 80 percent are selling for less than the original ask. For buyers, this suggests there is genuine room to negotiate on the majority of listings. For sellers, it reinforces that the list price is a starting point that needs to be grounded in what comparable homes have actually sold for — not what sellers hope the market will bear. The median sold figure of $311,584 reflects what buyers have been willing to pay when the right home is priced right, and the $277,000 median active list price suggests some of today's inventory may still be calibrating to that reality.

If you are buying in Houston right now, the data is genuinely in your corner on most transactions. With 852 homes available, average days on market at 74, and 80 percent of homes closing below list price, you have both selection and negotiating room. That does not mean every listing is a deal — the 20 percent that close at or above ask are telling you that move-in-ready, well-priced homes in sought-after pockets still attract real competition. Come in prepared: know what comparable homes have sold for, understand where in the 32-to-74-day range a given listing sits, and make an offer that reflects the market rather than the sticker. If you are selling in Houston, the 3.8 months of supply is a reason for measured confidence, not complacency. The sellers winning right now are the ones whose list price is anchored to the $311,584 median sold figure, not stretched above it hoping for a high-offer outlier. Given that homes are averaging 74 days before closing, a price that does not reflect recent sales history could mean a long wait and an eventual reduction — which statistically puts you in the 80 percent closing below ask anyway. Price it accurately from day one, and you are far more likely to land in that faster-moving 32-day median cohort.

A few homes that just came up in Houston, pulled live from the MLS as you read this.