$2,339 Closing Credit*
$197,000
1,467 SqFt
3 Beds
•1 Full Bath
Libby Mitchell, Listing Office: REGENCY Real Estate Professionals
Is Groves, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Groves was a Seller's Market.
Key Takeaway
Groves is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Groves, TX
How much do homes in Groves, TX cost?
Median Sold Price
$145,950
$111/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$16,050(-9.9%)
Key Takeaway
Homes in Groves have sold for 9.9% less than they did a year ago.
Summary: The median home sold price in Groves was $145,950 in October 2024, down 9.9% from last year, and the median price per square foot was $111.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $120K | $129.9K | +8.2% |
| 3 Bedrooms | $162K | $125K | -22.8% |
| 4 Bedrooms | $325K | $240K | -26.2% |
| 5+ Bedrooms | $323.4K | $167K | -48.4% |
Summary: Groves 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 8.2%, 3 bedroom homes decreased by 22.8%, 4 bedroom homes decreased by 26.2%, and 5+ bedroom homes decreased by 48.4%.
Median Sold Price Compared To Nearby Cities
| Port Arthur | $121K | $141.2K | +16.7% |
| Groves | $162K | $145.9K | -9.9% |
Housing Supply in Groves, TX
How many homes are available in Groves, TX?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 19 | 20 | +5.3% |
Summary: The Groves real estate market had 20 homes for sale in October 2024, a 5.3% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 12 | 11 | -8.3% |
| 4 Bedrooms | 5 | 5 | 0.0% |
| 5+ Bedrooms | 0 | 2 | +100.0% |
Summary: The Groves 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 remained the same, 3 bedroom homes decreased by 8.3%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 2 | 3 | +50.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Groves, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 3 homes were sold or pending in Groves in October 2024, up by 50.0% month-over-month. Of the 3 sold homes, 67% were sold under asking, 33% were sold at asking, and 0% were sold over asking.
Days on Market for Groves, TX
How long does it take to sell a home in Groves, TX?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 27 Days | 11 Days | -58.0% |
Summary: Homes in Groves had an average of 11 days on market in Oct 2024, down by 58% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Groves are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 3 homes were sold in Groves; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”.