Is 78248, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78248 is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, 78248 has remained a Seller's Market.

Key Takeaway

78248 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 78248, TX

How much do homes in 78248, TX cost?

Median Sold Price

$515,000

$195/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$7,500(+1.5%)

Key Takeaway

Homes in 78248 have sold for 1.5% more than they did a year ago.

Summary: The median home sold price in 78248 was $515,000 in October 2024, up 1.5% from last year, and the median price per square foot was $195.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $150K$162.5K
+8.3%
2 $245K$254.9K
+4.1%
3 $444.9K$460K
+3.4%
4 $595K$563.6K
-5.3%
5+ $875K$707.6K
-19.1%

Summary: 78248 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 3.4%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes decreased by 19.1%.

Median Sold Price Compared To Nearby Zip Codes

78231
+10.4%
78248
+1.5%
78232
0.5%
78258
0%
78216
-14.3%

Housing Supply in 78248, TX

How many homes are available in 78248, TX?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
7674-2.6%

Summary: The 78248 real estate market had 74 homes for sale in October 2024, a 2.6% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 65
-16.7%
3 2223
+4.5%
4 3938
-2.6%
5+ 98
-11.1%

Summary: The 78248 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 16.7%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 2.6%, and 5+ bedroom homes decreased by 11.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1318+38.5%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78248, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in 78248 in October 2024, up by 38.5% month-over-month. Of the 18 sold homes, 67% were sold under asking, 11% were sold at asking, and 22% were sold over asking.

Days on Market for 78248, TX

How long does it take to sell a home in 78248, TX?

Average Sale Time

Oct 2023Oct 2024CHANGE
54 Days64 Days+17.6%

Summary: Homes in 78248 had an average of 64 days on market in Oct 2024, up by 17.6% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 78248 has remained consistent over time.

Summary: During October 2024, 18 homes were sold in 78248; 28% of homes were sold within 30 days, 44% of homes were sold within 30 to 90 days, and 28% 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 78248, TX

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