News & Updates

Houston Home Values Climbed in November

According to a recent article by Houston Business Journal, Houston home values climbed in November. 

The Bayou City saw a bump in home values in November compared to the previous year.

The median home value in the Houston metro area hovered around $176,000, or up 7 percent over the past year, according to a Zillow report. The company predicts home values will jump 3 percent within the next year.

Houston’s median list price per square foot has stayed in line with Texas’ average of $113. The median price for homes in Houston is $279,990.

On the rent side, the median price in the Houston metro area is $1,550, which is higher than the statewide average of $1,418.

Winter is the most affordable time to buy a home in the Houston area, mirroring a larger homebuying trend across the U.S., according to a NerdWallet report in September. The average summer home price around Houston is about $219,162, but in January, the cheapest month, it’s about $201,365.

That’s an 8.1 percent difference.

Around the U.S., summer prices peaked in June and July and tended to decline in the fall — a 2.96 percent drop on average or about $8,300 on the median home. Winter prices fell 8.45 percent on average, and January was the cheapest month in 29 of the 50 metro areas.