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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78247 is a neutral's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

78247 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 78247, TX

How much do homes in 78247, TX cost?

Median Sold Price

$298,500

$163/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

-$3,768(-1.2%)

Key Takeaway

Homes in 78247 have sold for 1.2% less than they did a year ago.

Summary: The median home sold price in 78247 was $298,500 in November 2024, down 1.2% from last year, and the median price per square foot was $163.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $175K$155K
-11.4%
2 $219K$213.5K
-2.5%
3 $289.9K$279.3K
-3.7%
4 $336.9K$345K
+2.4%
5+ $412.5K$400K
-3.0%

Summary: 78247 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.4%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes decreased by 3.7%, 4 bedroom homes increased by 2.4%, and 5+ bedroom homes decreased by 3%.

Median Sold Price Compared To Nearby Zip Codes

78259
+2.5%
78233
0.0%
78247
-1.2%
78232
-2.0%
78217
-4.7%

Housing Supply in 78247, TX

How many homes are available in 78247, TX?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
254264+3.9%

Summary: The 78247 real estate market had 264 homes for sale in November 2024, a 3.9% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 1115
+36.4%
3 165166
+0.6%
4 6973
+5.8%
5+ 910
+11.1%

Summary: The 78247 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 36.4%, 3 bedroom homes increased by 0.6%, 4 bedroom homes increased by 5.8%, and 5+ bedroom homes increased by 11.1%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
4238-9.5%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

6 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. 52.6% of homes here sold below asking price last month.

Summary: A total of 38 homes were sold or pending in 78247 in November 2024, down by 9.5% month-over-month. Of the 38 sold homes, 53% were sold under asking, 32% were sold at asking, and 16% 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

Nov 2023Nov 2024CHANGE
54 Days61 Days+11.7%

Summary: Homes in 78247 had an average of 61 days on market in Nov 2024, up by 11.7% compared to last year.

Breakdown of Home Sale Times

15 Homes Were Sold
Under 30 Days

14 Homes Were Sold
In 30 - 90 Days

9 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 78247 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 38 homes were sold in 78247; 39% of homes were sold within 30 days, 37% of homes were sold within 30 to 90 days, and 24% 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 78247, TX

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