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How did the Texas real estate market perform in 2014?

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A man holds a set of silver keys in one hand and a small model house in the other.

02/02/2015 | Author: Editorial Staff

A spike in home sales and sales prices in the last quarter of 2014 helped make it the second-best year ever for Texas real estate, according to the 2014-Q4 Texas Quarterly Housing Report released today.

Demand for Texas homes continued statewide through the final months of 2014, says Texas Association of REALTORS® Chairman Scott Kesner. “The fourth quarter of 2014 marked three-and-a-half years of continual home sales growth for the Lone Star State and the highest annual home sales volume since 2006—a testament to the strong and enduring demand of Texas real estate.”

Here are a few highlights from the report:

  • 66,664 single-family homes were sold in Texas during the fourth quarter of 2014—an 8.46% increase from the same time in 2013.
  • Median sales price for Texas homes was $185,900—a 7.76% increase from 2013-Q4.
  • Average sales price increased 6.99% to $240,976.
  • Statewide housing inventory hit an all-time low of 3.3 months. Markets with 6.5 months of inventory are considered to be balanced between supply and demand.

The report uses data from multiple listing services in markets throughout Texas. To see how your market performed in the fourth quarter of 2014, download the full report issued by the Texas Association of REALTORS®. 

Categories: Research
Tags: texas quarterly housing report, research, market data, texas news

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The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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