Real Estate Weekly Market Update Feb 24 - March 2

by Alaina Segovia

Welcome to this week’s Houston Real Estate Market Update! Whether you're buying, selling, or keeping an eye on trends, here's what you need to know.

📊 Market at a Glance

New Listings: 4,358 (+17.9% YoY)

Pending Sales: 2,285 (-1.7% YoY)
Off-Market Listings: Data Pending
Closings: 2,018 (+12.5% YoY)
Showings: Data Pending
Median Price: $374,900 (+7.2% from last week)
Days on Market: 68 days (for Sold listings)
30YR Mortgage Rate: 6.89% (-0.07%)

🔍 Detailed Analysis

Surge in New Listings

The Houston housing market saw a significant jump in new listings, with 4,358 properties hitting the market— a 17.9% increase compared to last year. This expanding inventory offers more choices for buyers as we approach the spring season.

Pending Sales See a Modest Dip

Pending sales slightly declined by 1.7% YoY, which may reflect buyers taking more time to evaluate options. However, steady demand suggests continued market activity.

Strong Growth in Closings

Closings rose by 12.5% YoY, signaling that despite the slight dip in pending sales, transactions are being completed at a healthy rate. This suggests a strong close to the winter market.

Median Home Price Increase

The median home price increased to $374,900, reflecting a 7.2% rise from last week. As demand stabilizes, pricing trends remain upward, favoring sellers in well-positioned areas.

Mortgage Rate Update

The 30-year fixed mortgage rate dipped slightly to 6.89%, a 0.07% decrease from last week. Even small rate drops can improve affordability, making this a good moment for buyers to lock in rates.

🛠️ Alaina’s Tip of the Week

“More listings mean more opportunities! Buyers, now is the time to explore expanded inventory before the spring rush intensifies. Sellers, competitive pricing and small upgrades can help your property stand out in this evolving market.”