Is South Central Houston, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, South Central Houston was a Seller's Market.
Key Takeaway
South Central Houston is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Central Houston, TX
How much do homes in South Central Houston, TX cost?
Median Sold Price
$438,645
$224/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South Central Houston have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in South Central Houston was $438,645 in May 2024, up 3.6% from last year, and the median price per square foot was $224.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $240K | $267K | +11.3% |
| 2 Bedrooms | $330K | $331.5K | 0.5% |
| 3 Bedrooms | $425.3K | $438.6K | +3.1% |
| 4 Bedrooms | $660.8K | $745K | +12.7% |
| 5+ Bedrooms | $1.3M | $1.3M | -1.8% |
Summary: South Central Houston housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.3%, 2 bedroom homes increased by 0.5%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 12.7%, and 5+ bedroom homes decreased by 1.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Midtown | $349.5K | $372.9K | +6.7% |
| Museum Park | $515K | $540K | +4.9% |
| Macgregor | $370K | $384.5K | +3.9% |
| South Central Houston | $423.2K | $438.6K | +3.6% |
| Greater Third Ward | $410K | $399.9K | -2.5% |
Housing Supply in South Central Houston, TX
How many homes are available in South Central Houston, TX?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 496 | 589 | +18.8% |
Summary: The South Central Houston real estate market had 589 homes for sale in May 2024, a 18.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 35 | 34 | -2.9% |
| 2 Bedrooms | 104 | 130 | +25.0% |
| 3 Bedrooms | 268 | 312 | +16.4% |
| 4 Bedrooms | 62 | 77 | +24.2% |
| 5+ Bedrooms | 27 | 36 | +33.3% |
Summary: The South Central Houston housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 2.9%, 2 bedroom homes increased by 25%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 24.2%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 70 | 83 | +18.6% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
14 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Central Houston, you may be able to get a good deal. 66.3% of homes here sold below asking price last month.
Summary: A total of 83 homes were sold or pending in South Central Houston in May 2024, up by 18.6% month-over-month. Of the 83 sold homes, 66% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for South Central Houston, TX
How long does it take to sell a home in South Central Houston, TX?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 41 Days | 35 Days | -13.9% |
Summary: Homes in South Central Houston had an average of 35 days on market in May 2024, down by 13.9% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
22 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Central Houston are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 83 homes were sold in South Central Houston; 61% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
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