$350,000
Land
Jelicia Walker, Listing Office: Lifestyle Real Estate Collection LLC
Is 77016, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, 77016 was a Seller's Market.
Key Takeaway
77016 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 77016, TX
How much do homes in 77016, TX cost?
Median Sold Price
$219,663
$142/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
-$10,466(-4.5%)
Key Takeaway
Homes in 77016 have sold for 4.5% less than they did a year ago.
Summary: The median home sold price in 77016 was $219,663 in November 2024, down 4.5% from last year, and the median price per square foot was $142.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $94K | $60K | -36.2% |
| 2 Bedrooms | $135K | $143K | +5.9% |
| 3 Bedrooms | $229.9K | $210K | -8.7% |
| 4 Bedrooms | $249.3K | $257.4K | +3.3% |
| 5+ Bedrooms | $315K | $250K | -20.6% |
Summary: 77016 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 36.2%, 2 bedroom homes increased by 5.9%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes decreased by 20.6%.
Housing Supply in 77016, TX
How many homes are available in 77016, TX?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 123 | 139 | +13.0% |
Summary: The 77016 real estate market had 139 homes for sale in November 2024, a 13.0% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 16 | 11 | -31.3% |
| 3 Bedrooms | 76 | 95 | +25.0% |
| 4 Bedrooms | 26 | 26 | 0.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The 77016 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 31.3%, 3 bedroom homes increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 17 | 14 | -17.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 77016, expect to pay close to the asking price. 64.3% of homes here sold near the asking price last month.
Summary: A total of 14 homes were sold or pending in 77016 in November 2024, down by 17.6% month-over-month. Of the 14 sold homes, 29% were sold under asking, 64% were sold at asking, and 7% were sold over asking.
Days on Market for 77016, TX
How long does it take to sell a home in 77016, TX?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 39 Days | 45 Days | +15.7% |
Summary: Homes in 77016 had an average of 45 days on market in Nov 2024, up by 15.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 77016 are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 14 homes were sold in 77016; 50% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 21% of homes were sold over 90 days.
Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”.