Real Estate Market Report - Pearland, TX (Jan, 2024)

The median sale/list price for 2023 ranged from $335,000 to $399,000, with the highest prices in February and May. The prices fluctuated throughout the year, with a peak in April and a dip in July, but ultimately ended the year slightly higher than they began.

The median sale price per square foot for the first month of 2023 was $149.562, which increased steadily over the next few months, reaching a peak of $164.773 in August before decreasing slightly towards the end of the year, ending at $156.741 in December.

The median sale price to list price ratio shows a steady increase from January to April, reaching a high of 0.99. There is a slight dip in August and September before rising again in October and November, reaching the highest point of 1.0 in November. The year ends with a ratio of 0.981 in December. Overall, the ratio remains above 0.97 throughout the year, indicating that on average, properties are selling for close to their listed price.

In 2023, the number of properties sold/listed increased steadily from January to May, peaking at 189, before gradually decreasing for the rest of the year, reaching a low of 93 in December. The number of properties listed for sale was generally lower than the number of properties sold, with the exception of March and July where the number of listings exceeded the number of sales.

The median days on market for homes decreased from 61.5 in January to 44 in April and remained stable at that level until August before increasing again to 56 in September and averaging around 53 for the rest of the year.