TEXAS QUARTERLY

HOUSING REPORT

2023
Q 1 EDI T ION
ABOUT THE TEXAS QUARTERLY HOUSING REPORT
Data for the Texas Quarterly Housing Report is provided by the Data Relevance Project, a
partnership among local REALTOR® associations and their MLSs, and Texas REALTORS®, with
analysis by the Texas Real Estate Research Center at Texas A&M University. The report provides
quarterly real estate sales data for Texas and 25 metropolitan statistical areas in the state. The
Texas Real Estate Year-in-Review Report and the Texas Real Estate Mid-Year Report are released
in lieu of the Q2 and Q4 reports each year.

About Texas REALTORS®

With more than 150,000 members, Texas REALTORS® is a professional membership organization
that represents all aspects of real estate in Texas. We are the advocates for REALTORS® and
private property rights in Texas. Visit texasrealestate.com to learn more.

Media Contact
David Gibbs
HAHN AGENCY
[email protected]

TEXAS QUARTERLY HOUSING REPORT 2023 Q1 EDITION

INSIGHTS
• The Texas housing market shifted toward a more balanced state between buyers and sellers.

• An increase of inventory suggests that buyers in many markets may have more options to
choose from. However, excluding 2020 and 2021, months of inventory—how long it would take
to sell the existing supply of homes for sale at the current pace of sales—has never been this
low in the first quarter of the year. Meaning that while the Texas market’s inventory is
recovering, it is not at a historically normal level yet.

• The increase in days homes spent on the market and decrease in closed sales could indicate
that the pace of the market has moderated.

• Mortgage rates may be contributing to fewer sales from the buying and selling sides. Mortgage
rates are up 1.4% from a year ago, which may affect the size of the loan that many buyers can
afford. Also, homeowners who don’t have to move may be reluctant to sell if their existing
mortgage is several percentage points lower than current mortgage rates.

• The median home price in Texas increased by 0.6% in Q1 2023 compared to the same period
last year, suggesting that there is still strong demand for housing in the state. In other words,
the increase of inventory is not significant enough to outweigh the demand for housing in the
Texas market.

TEXAS QUARTERLY HOUSING REPORT 2023 Q1 EDITION

Texas Quarterly Statewide
First quarter 2023
Price Distribution
$0 - $99,999 3.2%
$326,800 $100,000 - $199,999 11.6%

% $200,000 - $299,999 27.2%

Up
0.6
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
$1,000,000+
3.9%
2.9%
13.5%
13.3%
24.5%

% %
Up
113.3
79,662 in 2023 Q1
Down
17.5
72,480 in 2023 Q1

Days on market 64
Days to close
Total
22 days more than 2022 Q1
36
100 2.7
Compared to 1.1 in 2022 Q1
Texas Quarterly Abilene MSA
First quarter 2023
Price Distribution
$0 - $99,999 8.7%
$229,000 $100,000 - $199,999 31.2%

% $200,000 - $299,999 33.3%

Up
3.6
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
6.3%
4.3%
$750,000 - $999,999 1.6%
$1,000,000+ 0.0%
14.6%

% %
Up
83.6
547 in 2023 Q1
Down
12.6
498 in 2023 Q1

Days on market 62
Days to close
Total
22 days more than 2022 Q1
35
97 2.7
Compared to 1.3 in 2022 Q1
Texas Quarterly Amarillo MSA
First quarter 2023
Price Distribution
$0 - $99,999 9.4%
$230,000 $100,000 - $199,999 28.6%

% $200,000 - $299,999 31.2%

Up
4.6
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
$1,000,000+
0.7%
0.2%
7.3%
13.4%
9.4%

% %
Up
120.3
586 in 2023 Q1
Down
14.6
677 in 2023 Q1

Days on market 35
Days to close
Total
6 days more than 2022 Q1
34
69 2.1
Compared to 0.8 in 2022 Q1
Texas Quarterly Austin-Round Rock MSA
First quarter 2023
Price Distribution
$0 - $99,999 0.0%
$444,050 $100,000 - $199,999 0.7%

% $200,000 - $299,999 8.2%

Down
11.2
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
$1,000,000+
8.3%
6.7%
28.9%
23.3%
23.9%

% %
Up
377.7
8,059 in 2023 Q1
Down
18.7
6,549 in 2023 Q1

Days on market 80
Days to close
Total
46 days more than 2022 Q1
42
122 3.0
Compared to 0.5 in 2022 Q1
Texas Quarterly Beaumont-Port Arthur MSA
First quarter 2023
Price Distribution
$0 - $99,999 14.4%
$207,500 $100,000 - $199,999 33.4%

% $200,000 - $299,999 28.1%

Up
1.2
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999 4.7%
$500,000 - $749,999 2.0%
$750,000 - $999,999 0.4%
$1,000,000+ 0.1%
16.8%

% %
Up
60.9
1,160 in 2023 Q1
Down
21.6
840 in 2023 Q1

Days on market 64
Days to close
Total
13 days more than 2022 Q1
36
100 3.5
Compared to 1.9 in 2022 Q1
Texas Quarterly Brownsville-Harlingen MSA
First quarter 2023
Price Distribution
$0 - $99,999 6.3%
$246,750 $100,000 - $199,999 26.4%

% $200,000 - $299,999 35.8%

Up
1.9
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
6.6%
5.5%
$750,000 - $999,999 0.6%
$1,000,000+ 0.7%
18.1%

% %
Up
114858 in 2023 Q1
Down
12.1
576 in 2023 Q1

Days on market 62
Days to close
Total
2 days more than 2022 Q1
26
88 4.1
Compared to 1.6 in 2022 Q1
Texas Quarterly College Station-Bryan MSA
First quarter 2023
Price Distribution
$0 - $99,999 2.5%
$296,623 $100,000 - $199,999 8.7%

% $200,000 - $299,999 40.5%

Up
10
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
9.5%
10.5%
$750,000 - $999,999 3.0%
$1,000,000+ 1.2%
24.0%

% %
Up
67.7
654 in 2023 Q1
Down
12.6
738 in 2023 Q1

Days on market 64
Days to close
Total
23 days more than 2022 Q1
43
107 2.1
Compared to 1.1 in 2022 Q1
Texas Quarterly Corpus Christi MSA
First quarter 2023
Price Distribution
$0 - $99,999 5.5%
$272,595 $100,000 - $199,999 22.3%

% $200,000 - $299,999 30.6%

Up
1.5
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
$1,000,000+
8.0%

2.8%
2.7%
8.9%
19.1%

% %
Up
64.5
1,823 in 2023 Q1
Down
22
1,209 in 2023 Q1

Days on market 78
Days to close
Total
20 days more than 2022 Q1
32
110 3.6
Compared to 1.8 in 2022 Q1
Texas Quarterly Dallas-Fort Worth-Arlington MSA
First quarter 2023
Price Distribution
$0 - $99,999 0.7%
$385,000 $100,000 - $199,999 4.7%

% $200,000 - $299,999 19.4%

Up
1.5
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
$1,000,000+
5.6%
3.9%
17.6%
19.3%
28.8%

% %
Up
129.8
16,467 in 2023 Q1
Down
8.4
20,166 in 2023 Q1

Days on market 60
Days to close
Total
28 days more than 2022 Q1
34
94 2.1
Compared to 0.8 in 2022 Q1
Texas Quarterly El Paso MSA
First quarter 2023
Price Distribution
$0 - $99,999 1.8%
$245,000 $100,000 - $199,999 26.6%

% $200,000 - $299,999 47.2%

Up
9.9
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999 4.9%
$500,000 - $749,999 2.9%
$750,000 - $999,999 0.5%
$1,000,000+ 0.1%
15.9%

% %
Up
72.6
1,609 in 2023 Q1
Down
20.9
1,814 in 2023 Q1

Days on market 59
Days to close
Total
2 days more than 2022 Q1
49
108 2.2
Compared to 1.1 in 2022 Q1
Texas Quarterly Houston-The Woodlands-Sugar Land MSA
First quarter 2023
Price Distribution
$0 - $99,999 1.6%
$320,000 $100,000 - $199,999 9.3%

% $200,000 - $299,999 32.3%

Down
0.5
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
$1,000,000+
3.1%
3.0%
13.0%
11.8%
25.9%

% %
Up
85.4
19,823 in 2023 Q1
Down
24.2
18,607 in 2023 Q1

Days on market 60
Days to close
Total
16 days more than 2022 Q1
35
95 2.6
Compared to 1.1 in 2022 Q1

© 2023 Houston Realtors Information Service, Inc. - Certain information contained herein is derived
from information which is the licensed property of, and copyrighted by, Houston Realtors Information Service, Inc.
Texas Quarterly Killeen-Temple MSA
First quarter 2023
Price Distribution
$0 - $99,999 2.8%
$260,530 $100,000 - $199,999 19.3%

% $200,000 - $299,999 43.7%

Up
5.9
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
7.1%
7.3%
$750,000 - $999,999 1.0%
$1,000,000+ 0.4%
18.4%

% %
Up
292.5
1,303 in 2023 Q1
Down
21.9
1,469 in 2023 Q1

Days on market 65
Days to close
Total
34 days more than 2022 Q1
32
97 2.1
Compared to 0.4 in 2022 Q1
Texas Quarterly Laredo MSA
First quarter 2023
Price Distribution
$0 - $99,999 5.9%
$225,000 $100,000 - $199,999 26.5%

% $200,000 - $299,999 44.9%

Up
5.6
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999 3.7%
$500,000 - $749,999 3.3%
$750,000 - $999,999 1.5%
$1,000,000+ 0.7%
13.6%

% %
Up
74.4
333 in 2023 Q1
Down
15.1
276 in 2023 Q1

Days on market 45
Days to close
Total
6 days less than 2022 Q1
45
90 3.1
Compared to 1.6 in 2022 Q1
Texas Quarterly Longview MSA
First quarter 2023
Price Distribution
$0 - $99,999 8.9%
$235,000 $100,000 - $199,999 26.8%

% $200,000 - $299,999 35.9%

Up
6.8
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
$1,000,000+
8.0%
4.9%
0.2%
0.5%
14.8%

% %
Up
39495 in 2023 Q1
Down
20.3
439 in 2023 Q1

Days on market 52
Days to close
Total
10 days more than 2022 Q1
36
88 2.6
Compared to 1.7 in 2022 Q1
Texas Quarterly Lubbock MSA
First quarter 2023
Price Distribution
$0 - $99,999 6.9%
$238,125 $100,000 - $199,999 26.5%

% $200,000 - $299,999 36.8%

Down
0.8
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
6.0%
5.7%
$750,000 - $999,999 1.1%
$1,000,000+ 1.2%
15.7%

% %
Up
172.3
953 in 2023 Q1
Down
12.8
999 in 2023 Q1

Days on market 41
Days to close
Total
4 days more than 2022 Q1
29
70 2.5
Compared to 0.8 in 2022 Q1
Texas Quarterly McAllen-Edinburg-Mission MSA
First quarter 2023
Price Distribution
$0 - $99,999 6.7%
$220,000 $100,000 - $199,999 33.7%

% $200,000 - $299,999 39.8%

Up
5.4
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999 4.4%
$500,000 - $749,999 1.3%
$750,000 - $999,999 1.0%
$1,000,000+ 0.5%
12.7%

% %
Up
100
1,402 in 2023 Q1
Down
19.2
905 in 2023 Q1

Days on market 66
Days to close
Total
8 days more than 2022 Q1
26
92 4.2
Compared to 1.9 in 2022 Q1
Texas Quarterly Midland MSA
First quarter 2023
Price Distribution
$0 - $99,999 3.1%
$315,000 $100,000 - $199,999 7.8%

% $200,000 - $299,999 33.2%

Down
1.4
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999 2.9%
$1,000,000+ 1.4%
11.2%
10.6%
29.8%

% %
Down
4.4473 in 2023 Q1
Down
10.6
675 in 2023 Q1

Days on market 52
Days to close
Total
4 days less than 2022 Q1
37
89 2.0
Compared to 1.9 in 2022 Q1
Texas Quarterly Odessa MSA
First quarter 2023
Price Distribution
$0 - $99,999 8.1%
$240,000 $100,000 - $199,999 21.9%

% $200,000 - $299,999 45.1%

Up
1.1
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999 3.7%
$500,000 - $749,999 2.4%
$750,000 - $999,999 0.4%
$1,000,000+ 0.2%
18.2%

% %
Down
4.1378 in 2023 Q1
Up
9.7
477 in 2023 Q1

Days on market 59
Days to close
Total
7 days more than 2022 Q1
39
98 2.3
Compared to 2.5 in 2022 Q1
Texas Quarterly San Angelo MSA
First quarter 2023
Price Distribution
$0 - $99,999 6.3%
$249,900 $100,000 - $199,999 25.2%

% $200,000 - $299,999 32.4%

Up
6.3
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
6.9%
6.0%
$750,000 - $999,999 1.6%
$1,000,000+ 0.6%
21.1%

% %
Up
111.9
284 in 2023 Q1
Down
17.6
328 in 2023 Q1

Days on market 58
Days to close
Total
20 days more than 2022 Q1
34
92 2.1
Compared to 0.8 in 2022 Q1
Texas Quarterly San Antonio-New Braunfels MSA
First quarter 2023
Price Distribution
$0 - $99,999 1.7%
$307,950 $100,000 - $199,999 9.8%

% $200,000 - $299,999 35.2%

Up
1
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999 3.3%
$1,000,000+ 1.5%
12.4%
10.5%
25.7%

% %
Up
140.6
9,158 in 2023 Q1
Down
16.9
7,372 in 2023 Q1

Days on market 71
Days to close
Total
32 days more than 2022 Q1
40
111 3.1
Compared to 1.1 in 2022 Q1
Texas Quarterly Sherman-Denison MSA
First quarter 2023
Price Distribution
$0 - $99,999 3.4%
$290,000 $100,000 - $199,999 16.9%

% $200,000 - $299,999 31.8%

Up
1.8
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999 3.6%
$1,000,000+ 0.9%
10.7%
11.0%
21.9%

% %
Up
181607 in 2023 Q1
Down
1.4
572 in 2023 Q1

Days on market 73
Days to close
Total
40 days more than 2022 Q1
36
109 2.9
Compared to 1.0 in 2022 Q1
Texas Quarterly Texarkana MSA
First quarter 2023
Price Distribution
$0 - $99,999 25.6%
$161,317 $100,000 - $199,999 36.6%

% $200,000 - $299,999 18.0%

Down
17.2
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
$1,000,000+
1.2%
1.7%
0.0%
10.5%
6.4%

% %
Up
146.2
261 in 2023 Q1
Down
14.6
175 in 2023 Q1

Days on market 50
Days to close
Total
11 days less than 2022 Q1
36
86 3.8
Compared to 1.4 in 2022 Q1
Texas Quarterly Tyler MSA
First quarter 2023
Price Distribution
$0 - $99,999 4.5%
$300,000 $100,000 - $199,999 14.0%

% $200,000 - $299,999 30.4%

Up
3.1
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999 2.7%
$1,000,000+ 1.5%
13.6%
9.3%
24.0%

% %
Up
169.6
763 in 2023 Q1
Down
20.1
564 in 2023 Q1

Days on market 47
Days to close
Total
11 days more than 2022 Q1
38
85 3.0
Compared to 1.0 in 2022 Q1
Texas Quarterly Victoria MSA
First quarter 2023
Price Distribution
$0 - $99,999 10.1%
$234,900 $100,000 - $199,999 27.8%

% $200,000 - $299,999 34.9%

Up
2.1
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
7.1%
3.6%
$750,000 - $999,999 0.6%
$1,000,000+ 0.0%
16.0%

% %
Up
19.3
173 in 2023 Q1
Down
39
169 in 2023 Q1

Days on market 69
Days to close
Total
6 days more than 2022 Q1
23
92 2.3
Compared to 1.5 in 2022 Q1
Texas Quarterly Waco MSA
First quarter 2023
Price Distribution
$0 - $99,999 6.0%
$275,225 $100,000 - $199,999 20.4%

% $200,000 - $299,999 31.2%

Up
6.1
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
$1,000,000+
2.0%
1.3%
10.6%
9.1%
19.4%

% %
Up
202767 in 2023 Q1
Down
27.3
602 in 2023 Q1

Days on market 56
Days to close
Total
17 days more than 2022 Q1
32
88 2.9
Compared to 0.8 in 2022 Q1
Texas Quarterly Wichita Falls MSA
First quarter 2023
Price Distribution
$0 - $99,999 15.9%
$175,000 $100,000 - $199,999 43.6%

% $200,000 - $299,999 25.9%

Up
3
Compared to same quarter last year
$300,000 - $399,999
$400,000 - $499,999
$500,000 - $749,999
$750,000 - $999,999
$1,000,000+
2.0%
2.3%
0.3%
0.0%
10.1%

% %
Up
53.3
322 in 2023 Q1
Down
20.7
402 in 2023 Q1

Days on market 45
Days to close
Total
15 days more than 2022 Q1
31
76 1.9
Compared to 1.1 in 2022 Q1