Is 78216, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78216 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 78216 was a Seller's Market.

Key Takeaway

78216 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 78216, TX

How much do homes in 78216, TX cost?

Median Sold Price

$290,525

$176/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$48,475(-14.3%)

Key Takeaway

Homes in 78216 have sold for 14.3% less than they did a year ago.

Summary: The median home sold price in 78216 was $290,525 in October 2024, down 14.3% from last year, and the median price per square foot was $176.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $128.2K$112.7K
-12.1%
2 $181.5K$169K
-6.9%
3 $318.2K$285K
-10.4%
4 $451K$409.7K
-9.2%
5+ $545K$432.2K
-20.7%

Summary: 78216 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.1%, 2 bedroom homes decreased by 6.9%, 3 bedroom homes decreased by 10.4%, 4 bedroom homes decreased by 9.2%, and 5+ bedroom homes decreased by 20.7%.

Median Sold Price Compared To Nearby Zip Codes

78231
+10.4%
78248
+1.5%
78213
+1.3%
78232
0.5%
78216
-14.3%

Housing Supply in 78216, TX

How many homes are available in 78216, TX?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
124144+16.1%

Summary: The 78216 real estate market had 144 homes for sale in October 2024, a 16.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 88
0.0%
2 1916
-15.8%
3 4758
+23.4%
4 4051
+27.5%
5+ 1011
+10.0%

Summary: The 78216 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 15.8%, 3 bedroom homes increased by 23.4%, 4 bedroom homes increased by 27.5%, and 5+ bedroom homes increased by 10%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2215-31.8%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78216, you may be able to get a good deal. 73.3% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in 78216 in October 2024, down by 31.8% month-over-month. Of the 15 sold homes, 73% were sold under asking, 13% were sold at asking, and 13% were sold over asking.

Days on Market for 78216, TX

How long does it take to sell a home in 78216, TX?

Average Sale Time

Oct 2023Oct 2024CHANGE
39 Days65 Days+63.4%

Summary: Homes in 78216 had an average of 65 days on market in Oct 2024, up by 63.4% compared to last year.

Breakdown of Home Sale Times

6 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 78216 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 15 homes were sold in 78216; 40% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

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