Is 78704, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78704 is a buyer's market

Buyer's
Market

Difference Since October 2023

Since last year, 78704 has remained a Buyer's Market.

Key Takeaway

78704 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 78704, TX

How much do homes in 78704, TX cost?

Median Sold Price

$865,220

$537/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$20,245(+2.4%)

Key Takeaway

Homes in 78704 have sold for 2.4% more than they did a year ago.

Summary: The median home sold price in 78704 was $865,220 in October 2024, up 2.4% from last year, and the median price per square foot was $537.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $380K$380K
0.0%
2 $615K$640K
+4.1%
3 $975K$934.7K
-4.1%
4 $1.8M$1.4M
-22.9%
5+ $2.0M$1.9M
-7.4%

Summary: 78704 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 increased by 4.1%, 3 bedroom homes decreased by 4.1%, 4 bedroom homes decreased by 22.9%, and 5+ bedroom homes decreased by 7.4%.

Median Sold Price Compared To Nearby Zip Codes

78701
+12.3%
78703
+8.0%
78704
+2.4%
78745
-5.4%
78741
-13.3%

Housing Supply in 78704, TX

How many homes are available in 78704, TX?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
367393+7.1%

Summary: The 78704 real estate market had 393 homes for sale in October 2024, a 7.1% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 3538
+8.6%
2 101100
-1.0%
3 119135
+13.4%
4 7577
+2.7%
5+ 3743
+16.2%

Summary: The 78704 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.6%, 2 bedroom homes decreased by 1%, 3 bedroom homes increased by 13.4%, 4 bedroom homes increased by 2.7%, and 5+ bedroom homes increased by 16.2%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
3034+13.3%

Asking Price vs. Sold Price

29 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78704, you may be able to get a good deal. 85.3% of homes here sold below asking price last month.

Summary: A total of 34 homes were sold or pending in 78704 in October 2024, up by 13.3% month-over-month. Of the 34 sold homes, 85% were sold under asking, 9% were sold at asking, and 6% were sold over asking.

Days on Market for 78704, TX

How long does it take to sell a home in 78704, TX?

Average Sale Time

Oct 2023Oct 2024CHANGE
66 Days79 Days+19.3%

Summary: Homes in 78704 had an average of 79 days on market in Oct 2024, up by 19.3% compared to last year.

Breakdown of Home Sale Times

10 Homes Were Sold
Under 30 Days

13 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 78704 has remained consistent over time.

Summary: During October 2024, 34 homes were sold in 78704; 29% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 32% 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 78704, TX

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