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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Memorial is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Memorial has remained a Seller's Market.

Key Takeaway

Memorial is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Memorial, TX

How much do homes in Memorial, TX cost?

Median Sold Price

$696,000

$248/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$40,914(+6.2%)

Key Takeaway

Homes in Memorial have sold for 6.2% more than they did a year ago.

Summary: The median home sold price in Memorial was $696,000 in October 2024, up 6.2% from last year, and the median price per square foot was $248.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $171.5K$164.2K
-4.2%
2 $249.5K$239K
-4.2%
3 $346.9K$443.2K
+27.8%
4 $835K$853.1K
+2.2%
5+ $1.1M$1.3M
+18.9%

Summary: Memorial housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.2%, 2 bedroom homes decreased by 4.2%, 3 bedroom homes increased by 27.8%, 4 bedroom homes increased by 2.2%, and 5+ bedroom homes increased by 18.9%.

Median Sold Price Compared To Nearby Neighborhoods

Mid West
+22.9%
Briargrove Park
+10.1%
Briar Forest
+10.0%
Memorial
+6.2%
Spring Branch West
+4.6%

Housing Supply in Memorial, TX

How many homes are available in Memorial, TX?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
242263+8.7%

Summary: The Memorial real estate market had 263 homes for sale in October 2024, a 8.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 1916
-15.8%
2 3642
+16.7%
3 6976
+10.1%
4 8696
+11.6%
5+ 3233
+3.1%

Summary: The Memorial housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 15.8%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 10.1%, 4 bedroom homes increased by 11.6%, and 5+ bedroom homes increased by 3.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
4855+14.6%

Asking Price vs. Sold Price

36 Homes Were Sold
Under Asking

11 Homes Were Sold
At Asking

8 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Memorial, you may be able to get a good deal. 65.5% of homes here sold below asking price last month.

Summary: A total of 55 homes were sold or pending in Memorial in October 2024, up by 14.6% month-over-month. Of the 55 sold homes, 65% were sold under asking, 20% were sold at asking, and 15% were sold over asking.

Days on Market for Memorial, TX

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

Average Sale Time

Oct 2023Oct 2024CHANGE
21 Days41 Days+90.3%

Summary: Homes in Memorial had an average of 41 days on market in Oct 2024, up by 90.3% compared to last year.

Breakdown of Home Sale Times

31 Homes Were Sold
Under 30 Days

17 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During October 2024, 55 homes were sold in Memorial; 56% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 13% 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 12 Days Ago

Newest Listings in Memorial, TX

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