HomesUSA.com report reveals higher prices and Days on Market for Austin, Dallas, Houston, and San Antonio
Dallas, TX – January 23, 2025 – Texas’ new home sales last month were up 5% in its combined four largest markets and year-over-year are 14% greater than December 2023, according to the newest monthly Texas New Home Sales Report released today by HomesUSA.com and its founder and CEO, Ben Caballero, the nation’s top-ranked real estate agent.
The HomesUSA.com New Home Sales Report uses multiple listing service data – the most comprehensive, current, and accurate information – from the Realtor Associations of North Texas, Houston, Austin, and San Antonio.
Texas’ December new home sales were higher in Houston, Dallas, and San Antonio but were off slightly in Austin. According to the 3-month moving average of Texas’ four largest markets, sales were 6,083 in December versus 5,792 in November. It was the first time since June 2024 that the monthly average new home sales topped 6,000.
“Texas new home sales ended on a high note, driven by builders prioritizing year-end closings to meet production-based bonus goals,” said Ben Caballero, founder and CEO of HomesUSA.com.
“And though prices were higher, builders demonstrated their resilience in meeting healthy market demand, making 2024 a solid year for Texas new home sales performance despite interest rates,” Caballero added.
According to HomesUSA.com’s analysis of December new homes data, Dallas-Ft. Worth, Houston, Austin, and San Antonio new home sales all reported higher Days on Market in December, meaning it’s taking a bit longer for new homes to sell. The combined 3-month average of Days on the Market (DOM) was 99.01 days versus 96.56 in November.
Last month, the combined average new home prices in Texas’s four largest markets reversed a sixth-month trend and ticked higher. Together, the 3-month new home price moving average for these markets shows prices increased by over $11,750, from $422,624 in November to $434,376 in December.
December average new home prices versus November were higher by nearly $18,000 in Austin, $12,000 in Dallas, $11,000 in Houston and over $6,600 in San Antonio. “However, the overall average price is trending down, so last month’s price increase does not necessarily mean homes sold for more. Sales prices are sensitive to the home’s size and like all home price averages, it does not consider the square footage,” said Caballero.
Austin recaptured the title of the priciest new home average last month at $494,714, nudging out Dallas-Ft. Worth’s $493,899, based on the 3-month moving average for December.
Pending new home sales last month – a key future sales indicator – continued a seven-month down trend as they moved lower again in the combined four markets in December: 5,971 versus 6,316 in November. December year-over-year pending new home sales in the four largest Texas markets are still up 10% (December 2024 versus December 2023).
Texas’ new home inventory was relatively flat again in December in all four major markets: Houston, Dallas-Fort Worth, Austin, and San Antonio. The combined 3-month average of active new home listings was 32,395 versus 32,584 in November.
HomesUSA.com is sharing its New Home Sales Report and New Home Sales Index at the same time the Commerce Department releases its nationwide New Residential Sales Report for December 2024, set for Monday, January 27, 2025, at 10:00 am Eastern time.
The HomesUSA.com monthly report covers closed sales recorded in MLSs by the 10th day of the following month. Sales reported by agents after the 10th of the month are not included. The report features 3-month and 12-month moving averages for six essential market data, including DOM, sales volume, sales prices, a sales-to-list price ratio, pending sales, and active listings. Caballero explained the 3-month moving average indices track market seasonality, while the 12-month moving average removes the seasonality and tracks the longer trend.
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