Is 77040, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 77040 is a neutral's market

Buyer's
Market

Difference Since January 2022

At the same time last year, 77040 was a Seller's Market.

Key Takeaway

77040 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

How much do homes in 77040, TX cost?

Median Sold Price

$283,500

$150/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2022

+$26,844(+10.5%)

Key Takeaway

Homes in 77040 have sold for 10.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJan 2022Jan 2023%
1 --
N/A
2 $185K$216K
+16.8%
3 $228K$250K
+9.6%
4 $291K$360K
+23.7%
5+ $368K$545K
+48.1%

Median Sold Price Compared To Nearby Zip Codes

77088
+13.6%
77064
+12.5%
77040
+10.5%
77092
-1.6%
77041
-3.6%

How many homes are available in 77040, TX?

Number of Homes For Sale

Dec 2022Jan 2023%
6875+10.3%

Homes For Sale By Bedroom Count

# BEDSDec 2022Jan 2023%
1 00
0.0%
2 21
-50.0%
3 3133
+6.5%
4 2833
+17.9%
5+ 78
+14.3%

Number of Homes Sold

Dec 2022Jan 2023%
1612-25.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 77040, you may be able to get a good deal. 75% of homes here sold below asking price last month.

Average Sale Time

Jan 2022Jan 2023%
17 Days40 Days+134.7%

Breakdown of Home Sale Times

4 Homes Were Sold
Under 30 Days

8 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 77040 has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About 77040, TX

77040, TX has 75 homes for sale to choose from. In January 2023 in 77040, TX there were 10.3% more homes for sale than in December 2022. The median list price of listings available in January 2023 was $283,500, while the average time on the real estate market was 40 days. From December 2022 through January 2023, the following changes in listing prices were observed in this housing market: the cost of 1 bedroom properties went up by 0%, prices of 2 bedrooms properties increased by 16.8%, prices of 3 bedrooms properties went up by 9.6%, 4 bedrooms properties prices increased by 23.7%, prices of 5 bedrooms properties increased by 48.1%. Volume of homes for sale changed: number of 1 bedroom homes remained the same, the quantity of 2 bedrooms homes went down by 50%, 3 bedrooms homes became 6.5% more available, number of 4 bedrooms homes increased by 17.9%, the quantity of 5 bedrooms homes went up by 14.3%. In January 2023 more than 2 listings in 77040, TX were sold above the asking price. During the same period more than 1 listings were sold at asking price, while more than 9 were sold below.