T
he Houston real estate market began to recover in 2024, showing modest growth after two years of decline. Across The Leader's six zip codes, a total of 3,080 homes were sold, indicating steady demand and a competitive market. Here's a breakdown of each zip code's performance:

    * 77018: 640 homes sold, priced between $120,000 and $2,581,859 in Garden Oaks

    * 77092: 215 homes sold, priced between $130,000 and $1,365,000 in Bay Ridge

    * 77091: 396 homes sold, priced between $74,000 and $2,200,000 in Highland Heights

    * 77007: 556 homes sold, priced between $260,000 and $3,441,000 in Crestwood Acres

    * 77008: 763 homes sold, priced between $270,000 and $2,200,000 in Houston Heights

    * 77009: 510 homes sold, priced between $110,000 and $2,100,000 in Norhill

    Key trends emerged in the Houston market:

    * Median home price increased by 2.7% to $320,179 in December 2024 compared to 2023.

    * Average prices reached a record high of $443,362 in July before settling at $425,150 by year-end.

    * Single-family home sales rose by 1.3% to 85,163 compared to 2023, with luxury homes priced over $1 million seeing a notable 21.4% increase.

    Experts predict that the market will continue to be shaped by interest rates and affordability challenges in 2025. Kate Ferguson notes that buyers are returning to the market after renting during high-interest periods, while Paul Vincent warns of rising property taxes and insurance costs, as well as potential interest rate hikes. Despite these concerns, some buyers may make a move in 2025 due to personal housing needs and acceptance of higher interest rates.