Housing prices in Texas are starting to cool again after a run-up likely tied to the pandemic. Even so, prices could continue to keep climbing in the near future.
From late 2020 through much of 2021, the median house price soared in some of the state’s largest cities. Austin led the pack with prices up more than $97,000 between September 2020 and September 2021.
Just a few months ago, the median house price in Austin was $448,000, which was up from around $350,000 a year earlier. It was much the same in the Dallas/Fort Worth market, which saw a $51,000 boost in median home prices.
The median house price went up about $39,000 in both Houston and San Antonio between September 2020 and September 2021. For most of these cities, median home prices hit their highest point in July, then trickled down slightly by September.
Even though prices may have already peaked, you’ll still probably pay more in many Texas cities. When it comes to appreciation in price per square foot, it’s up more than 31-percent in Austin, 17-percent in Dallas/Fort Worth and up about 13-percent in Houston and San Antonio.