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 October 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

$917,500

$371/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$42,250(+4.8%)

Key Takeaway

Homes in University Place have sold for 4.8% more than they did a year ago.

Summary: The median home sold price in University Place was $917,500 in October 2024, up 4.8% from last year, and the median price per square foot was $371.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $193.5K$168K
-13.2%
2 $376.4K$552.5K
+46.8%
3 $863K$915K
+6.0%
4 $1.3M$1.5M
+15.8%
5+ $2.5M$1.8M
-27.3%

Summary: University Place housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.2%, 2 bedroom homes increased by 46.8%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 15.8%, and 5+ bedroom homes decreased by 27.3%.

Median Sold Price Compared To Nearby Neighborhoods

Southampton
+15.0%
Southgate
+12.8%
University Place
+4.8%

Housing Supply in University Place, TX

How many homes are available in University Place, TX?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
82102+24.4%

Summary: The University Place real estate market had 102 homes for sale in October 2024, a 24.4% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 59
+80.0%
2 1620
+25.0%
3 2029
+45.0%
4 3032
+6.7%
5+ 1112
+9.1%

Summary: The University Place housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 80%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 45%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes increased by 9.1%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
1112+9.1%

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 October 2024, up by 9.1% month-over-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

Oct 2023Oct 2024CHANGE
46 Days36 Days-22.0%

Summary: Homes in University Place had an average of 36 days on market in Oct 2024, down by 22% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

1 Home Was 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 October 2024, 12 homes were sold in University Place; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% 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 13 Days Ago

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