Is 78247, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78247 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 78247 was a Seller's Market.

Key Takeaway

78247 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 78247, TX

How much do homes in 78247, TX cost?

Median Sold Price

$299,674

$163/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$419(-0.1%)

Key Takeaway

The sold price of homes in 78247 has remained the same since last year.

Summary: The median home sold price in 78247 was $299,674 in October 2024, down 0.1% from last year, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $175K$155K
-11.4%
2 $214.4K$214.5K
0.0%
3 $288.7K$280K
-3.0%
4 $340K$339.5K
-0.1%
5+ $412.5K$399K
-3.3%

Summary: 78247 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.4%, 2 bedroom homes did not change, 3 bedroom homes decreased by 3%, 4 bedroom homes decreased by 0.1%, and 5+ bedroom homes decreased by 3.3%.

Median Sold Price Compared To Nearby Zip Codes

78232
0.5%
78247
-0.1%
78233
-0.7%
78259
-2.1%
78217
-5.9%

Housing Supply in 78247, TX

How many homes are available in 78247, TX?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
247269+8.9%

Summary: The 78247 real estate market had 269 homes for sale in October 2024, a 8.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 913
+44.4%
3 152173
+13.8%
4 7872
-7.7%
5+ 811
+37.5%

Summary: The 78247 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 increased by 44.4%, 3 bedroom homes increased by 13.8%, 4 bedroom homes decreased by 7.7%, and 5+ bedroom homes increased by 37.5%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4436-18.2%

Asking Price vs. Sold Price

22 Homes Were Sold
Under Asking

10 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78247, you may be able to get a good deal. 61.1% of homes here sold below asking price last month.

Summary: A total of 36 homes were sold or pending in 78247 in October 2024, down by 18.2% month-over-month. Of the 36 sold homes, 61% were sold under asking, 28% were sold at asking, and 11% were sold over asking.

Days on Market for 78247, TX

How long does it take to sell a home in 78247, TX?

Average Sale Time

Oct 2023Oct 2024CHANGE
50 Days74 Days+48.0%

Summary: Homes in 78247 had an average of 74 days on market in Oct 2024, up by 48% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

15 Homes Were Sold
In 30 - 90 Days

11 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 78247 has remained consistent over time.

Summary: During October 2024, 36 homes were sold in 78247; 28% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 31% 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 4 Days Ago

Newest Listings in 78247, TX

Nearby Markets to 78247, TX