Is 78723, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78723 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 78723 was a Seller's Market.

Key Takeaway

78723 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 78723, TX

How much do homes in 78723, TX cost?

Median Sold Price

$555,000

$350/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$44,503(-7.4%)

Key Takeaway

Homes in 78723 have sold for 7.4% less than they did a year ago.

Summary: The median home sold price in 78723 was $555,000 in October 2024, down 7.4% from last year, and the median price per square foot was $350.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $325K$281K
-13.5%
2 $437.5K$387.5K
-11.4%
3 $590.8K$555K
-6.1%
4 $699K$655K
-6.3%
5+ $815.6K$610K
-25.2%

Summary: 78723 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.5%, 2 bedroom homes decreased by 11.4%, 3 bedroom homes decreased by 6.1%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes decreased by 25.2%.

Median Sold Price Compared To Nearby Zip Codes

78723
-7.4%
78721
-7.5%
78752
-9.7%
78751
-9.7%
78722
-13.8%

Housing Supply in 78723, TX

How many homes are available in 78723, TX?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
194195+0.5%

Summary: The 78723 real estate market had 195 homes for sale in October 2024, a 0.5% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 66
0.0%
2 1721
+23.5%
3 97104
+7.2%
4 6555
-15.4%
5+ 99
0.0%

Summary: The 78723 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 23.5%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
2916-44.8%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78723, you may be able to get a good deal. 68.8% of homes here sold below asking price last month.

Summary: A total of 16 homes were sold or pending in 78723 in October 2024, down by 44.8% month-over-month. Of the 16 sold homes, 69% were sold under asking, 25% were sold at asking, and 6% were sold over asking.

Days on Market for 78723, TX

How long does it take to sell a home in 78723, TX?

Average Sale Time

Oct 2023Oct 2024CHANGE
52 Days63 Days+19.8%

Summary: Homes in 78723 had an average of 63 days on market in Oct 2024, up by 19.8% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 78723 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 16 homes were sold in 78723; 44% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 25% 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 22 Days Ago

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