The Houston Association of REALTORS® FRESH Report shows that while new listings are down, active listings nearly double the amount of inventory that was available in October of 2021.
The report shows that new listings are down 1.6% year over year, with 10,553 new properties entered into the MLS in October 2022. The number was slightly higher in October of 2021, when 10,727 new properties were listed.
However, inventory has skyrocketed year over year, with 57% more listings available in October of 2022 than October of 2021.
The report also shows that the average list price has increased year over year, but is decreasing from the record-high prices seen in May of 2022. The current average list price in Houston is $414,873, up 7.8% from $384,840 in October of 2021.