Is 78623, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78623 is a buyer's market

Buyer's
Market

Difference Since October 2023

Since last year, 78623 has remained a Buyer's Market.

Key Takeaway

78623 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 78623, TX

How much do homes in 78623, TX cost?

Median Sold Price

$550,000

$271/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$58,500(+11.9%)

Key Takeaway

Homes in 78623 have sold for 11.9% more than they did a year ago.

Summary: The median home sold price in 78623 was $550,000 in October 2024, up 11.9% from last year, and the median price per square foot was $271.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $325K-
N/A
2 $344K-
N/A
3 $488K$555K
+13.7%
4 $510K$480K
-5.9%
5+ -$550K
N/A

Summary: 78623 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 13.7%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

78623
+11.9%
78133
+6.2%
78606
+3.2%
78676
+1.9%
78666
-2.3%

Housing Supply in 78623, TX

How many homes are available in 78623, TX?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2325+8.7%

Summary: The 78623 real estate market had 25 homes for sale in October 2024, a 8.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 01
+100.0%
2 00
0.0%
3 1314
+7.7%
4 57
+40.0%
5+ 53
-40.0%

Summary: The 78623 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 40%, and 5+ bedroom homes decreased by 40%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
42-50.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78623, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 78623 in October 2024, down by 50.0% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 78623, TX

How long does it take to sell a home in 78623, TX?

Average Sale Time

Oct 2023Oct 2024CHANGE
359 Days136 Days-62.0%

Summary: Homes in 78623 had an average of 136 days on market in Oct 2024, down by 62% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 78623 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 2 homes were sold in 78623; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% 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 20 Days Ago

Newest Listings in 78623, TX

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