Is 78861, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78861 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 78861 was a Neutral Market.

Key Takeaway

78861 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 78861, TX

How much do homes in 78861, TX cost?

Median Sold Price

$276,550

$166/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$23,050(+9.1%)

Key Takeaway

Homes in 78861 have sold for 9.1% more than they did a year ago.

Summary: The median home sold price in 78861 was $276,550 in October 2024, up 9.1% from last year, and the median price per square foot was $166.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $230K$200K
-13.0%
2 $180K$225K
+25.0%
3 $278K$275K
-1.1%
4 $315K$380K
+20.6%
5+ $130K$296.5K
+128.1%

Summary: 78861 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 1.1%, 4 bedroom homes increased by 20.6%, and 5+ bedroom homes increased by 128.1%.

Housing Supply in 78861, TX

How many homes are available in 78861, TX?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
43430.0%

Summary: The 78861 real estate market had 43 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 87
-12.5%
3 2524
-4.0%
4 89
+12.5%
5+ 23
+50.0%

Summary: The 78861 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 12.5%, 3 bedroom homes decreased by 4%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
34+33.3%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78861, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 78861 in October 2024, up by 33.3% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.

Days on Market for 78861, TX

How long does it take to sell a home in 78861, TX?

Average Sale Time

Oct 2023Oct 2024CHANGE
89 Days170 Days+89.4%

Summary: Homes in 78861 had an average of 170 days on market in Oct 2024, up by 89.4% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 78861 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 4 homes were sold in 78861; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 75% 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 3 Days Ago

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