Is 78611, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78611 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 78611 was a Neutral Market.

Key Takeaway

78611 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 78611, TX

How much do homes in 78611, TX cost?

Median Sold Price

$359,950

$226/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$29,950(+9.1%)

Key Takeaway

Homes in 78611 have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in 78611 was $359,950 in October 2024, up 9.1% from last year, and the median price per square foot was $226.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $245.2K$225K
-8.3%
2 $250K$287.4K
+15.0%
3 $321K$349.5K
+8.9%
4 $537.5K$515K
-4.2%
5+ $656.9K$1.8M
+179.7%

Summary: 78611 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 8.3%, 2 bedroom homes increased by 15%, 3 bedroom homes increased by 8.9%, 4 bedroom homes decreased by 4.2%, and 5+ bedroom homes increased by 179.7%.

Median Sold Price Compared To Nearby Zip Codes

78611
+9.1%
78639
0.3%
78605
-2.3%

Housing Supply in 78611, TX

How many homes are available in 78611, TX?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
118139+17.8%

Summary: The 78611 real estate market had 139 homes for sale in October 2024, a 17.8% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 44
0.0%
2 1922
+15.8%
3 5467
+24.1%
4 2933
+13.8%
5+ 1213
+8.3%

Summary: The 78611 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 15.8%, 3 bedroom homes increased by 24.1%, 4 bedroom homes increased by 13.8%, and 5+ bedroom homes increased by 8.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
711+57.1%

Asking Price vs. Sold Price

8 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 78611, you may be able to get a good deal. 88.9% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in 78611 in October 2024, up by 57.1% month-over-month. Of the 9 sold homes, 89% were sold under asking, 11% were sold at asking, and 0% were sold over asking.

Days on Market for 78611, TX

How long does it take to sell a home in 78611, TX?

Average Sale Time

Oct 2023Oct 2024CHANGE
109 Days83 Days-23.8%

Summary: Homes in 78611 had an average of 83 days on market in Oct 2024, down by 23.8% compared to last year.

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 78611 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 11 homes were sold in 78611; 36% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 27% 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 24 Days Ago

Newest Listings in 78611, TX

Nearby Markets to 78611, TX