Is MLK-183, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing MLK-183 is a buyer's market

Buyer's
Market

Difference Since December 2023

At the same time last year, MLK-183 was a Neutral Market.

Key Takeaway

MLK-183 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in MLK-183, TX

How much do homes in MLK-183, TX cost?

Median Sold Price

$507,500

$364/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

-$20,000(-3.8%)

Key Takeaway

Homes in MLK-183 have sold for 3.8% less than they did a year ago.

Summary: The median home sold price in MLK-183 was $507,500 in December 2024, down 3.8% from last year, and the median price per square foot was $364.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 $387.5K$416K
+7.4%
2 $479.9K$480K
0.0%
3 $536.2K$552K
+2.9%
4 $765.9K$687.5K
-10.2%
5+ $811.2K$435K
-46.4%

Summary: MLK-183 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.4%, 2 bedroom homes did not change, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 10.2%, and 5+ bedroom homes decreased by 46.4%.

Housing Supply in MLK-183, TX

How many homes are available in MLK-183, TX?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
5456+3.7%

Summary: The MLK-183 real estate market had 56 homes for sale in December 2024, a 3.7% increase compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 1314
+7.7%
3 3132
+3.2%
4 77
0.0%
5+ 33
0.0%

Summary: The MLK-183 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 7.7%, 3 bedroom homes increased by 3.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
47+75.0%

Asking Price vs. Sold Price

5 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 MLK-183, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in MLK-183 in December 2024, up by 75.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 29% were sold at asking, and 0% were sold over asking.

Days on Market for MLK-183, TX

How long does it take to sell a home in MLK-183, TX?

Average Sale Time

Dec 2023Dec 2024CHANGE
87 Days142 Days+64.2%

Summary: Homes in MLK-183 had an average of 142 days on market in Dec 2024, up by 64.2% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in MLK-183 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During December 2024, 7 homes were sold in MLK-183; 14% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 71% 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 6 Days Ago

Newest Listings in MLK-183, TX

Nearby Markets to MLK-183, TX