Is University Place, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing University Place is a buyer's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

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

Housing Prices in University Place, TX

How much do homes in University Place, TX cost?

Median Sold Price

$900,000

$358/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$19,252(+2.2%)

Key Takeaway

Homes in University Place have sold for 2.2% more than they did a year ago.

Summary: The median home sold price in University Place was $900,000 in November 2024, up 2.2% from last year, and the median price per square foot was $358.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $165K$184K
+11.5%
2 $365K$552.5K
+51.4%
3 $853.7K$900K
+5.4%
4 $1.3M$1.6M
+18.2%
5+ $2.5M$1.8M
-29.6%

Summary: University Place housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.5%, 2 bedroom homes increased by 51.4%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes decreased by 29.6%.

Housing Supply in University Place, TX

How many homes are available in University Place, TX?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
8788+1.1%

Summary: The University Place real estate market had 88 homes for sale in November 2024, a 1.1% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 910
+11.1%
2 1716
-5.9%
3 2627
+3.8%
4 2324
+4.3%
5+ 1211
-8.3%

Summary: The University Place housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.1%, 2 bedroom homes decreased by 5.9%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 8.3%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
12120.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in University Place, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 12 homes were sold or pending in University Place in November 2024, the same as the previous month. Of the 12 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.

Days on Market for University Place, TX

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

Average Sale Time

Nov 2023Nov 2024CHANGE
55 Days49 Days-10.5%

Summary: Homes in University Place had an average of 49 days on market in Nov 2024, down by 10.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2024, 12 homes were sold in University Place; 42% of homes were sold within 30 days, 42% of homes were sold within 30 to 90 days, and 17% 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 24 Days Ago

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