Housing Prices In Texas Rose By $100K+ In The Past Decade

The price of the average home in Texas has skyrocketed over the past 10 years.

Texas Realtors found that the average price increased by 76% from 2011 to 2020. That means the median price increased from $146,988 at the end of 2011 to $259,188 at the end of 2020.

"We've had a dynamic real estate market in Texas over the past decade. Some of the factors that have affected real estate transactions and property ownership include significant population growth, natural disasters big and small, new home technologies, and, of course, the pandemic," said Marvin Jolly, chairman of Texas Realtors, in a statement.

A total of 3,118,089 homes were sold in the state during the decade. Three-quarters of these homes were sold in Texas' biggest metros: Austin-Round Rock; Dallas-Fort Worth; Houston-The Woodlands-Sugarland; and San Antonio-New Braunfels.

The number of homes sold is unsurprising because the Texas population grew by nearly 4 million people within the last decade, according to the most recent Census data.

The Texas real estate market has benefited from an influx of out of state residents (particularly Californians) relocating to the Lone Star State.

While that news is great for realtors and home sellers, home shoppers have to move fast to get their dream home. The average number of days a home is on the market has dropped from 93 in 2011 to 55 days in 2020 because of the overwhelming demand.