Is 78231, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78231 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 78231 was a Neutral Market.

Key Takeaway

78231 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 78231, TX

How much do homes in 78231, TX cost?

Median Sold Price

$435,000

$205/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$52,000(+13.6%)

Key Takeaway

Homes in 78231 have sold for 13.6% more than they did a year ago.

Summary: The median home sold price in 78231 was $435,000 in November 2024, up 13.6% from last year, and the median price per square foot was $205.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $275K$282.5K
+2.7%
3 $375K$405.6K
+8.2%
4 $408.9K$500K
+22.3%
5+ $650K$606K
-6.8%

Summary: 78231 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 8.2%, 4 bedroom homes increased by 22.3%, and 5+ bedroom homes decreased by 6.8%.

Median Sold Price Compared To Nearby Zip Codes

78231
+13.6%
78248
+3.0%
78230
+2.7%
78249
+2.0%
78216
-16.2%

Housing Supply in 78231, TX

How many homes are available in 78231, TX?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
4140-2.4%

Summary: The 78231 real estate market had 40 homes for sale in November 2024, a 2.4% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 47
+75.0%
3 2020
0.0%
4 149
-35.7%
5+ 34
+33.3%

Summary: The 78231 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 increased by 75%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 35.7%, and 5+ bedroom homes increased by 33.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
75-28.6%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78231, you may be able to get a good deal. 80% of homes here sold below asking price last month.

Summary: A total of 5 homes were sold or pending in 78231 in November 2024, down by 28.6% month-over-month. Of the 5 sold homes, 80% were sold under asking, 20% were sold at asking, and 0% were sold over asking.

Days on Market for 78231, TX

How long does it take to sell a home in 78231, TX?

Average Sale Time

Nov 2023Nov 2024CHANGE
41 Days61 Days+45.8%

Summary: Homes in 78231 had an average of 61 days on market in Nov 2024, up by 45.8% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 78231 has remained consistent over time.

Summary: During November 2024, 5 homes were sold in 78231; 20% of homes were sold within 30 days, 80% of homes were sold within 30 to 90 days, and 0% 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 21 Days Ago

Newest Listings in 78231, TX

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