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 February 2023

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.

Housing Prices in 77040, TX

How much do homes in 77040, TX cost?

Median Sold Price

$290,000

$151/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$8,000(+2.8%)

Key Takeaway

Homes in 77040 have sold for 2.8% more than they did a year ago.

Summary: The median home sold price in 77040 was $290,000 in February 2024, up 2.8% from last year, and the median price per square foot was $151.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $216K$205K
-5.1%
3 $250K$265K
+6.0%
4 $353K$374.4K
+6.1%
5+ $555K$476.5K
-14.1%

Summary: 77040 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.1%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 6.1%, and 5+ bedroom homes decreased by 14.1%.

Median Sold Price Compared To Nearby Zip Codes

77041
+10.8%
77092
+10.4%
77088
+4.1%
77040
+2.8%
77064
-0.4%

Housing Supply in 77040, TX

How many homes are available in 77040, TX?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
6078+30.0%

Summary: The 77040 real estate market had 78 homes for sale in February 2024, a 30.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 23
+50.0%
3 3140
+29.0%
4 2331
+34.8%
5+ 44
0.0%

Summary: The 77040 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 29%, 4 bedroom homes increased by 34.8%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
13130.0%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was 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. 84.6% of homes here sold below asking price last month.

Summary: A total of 13 homes were sold or pending in 77040 in February 2024, the same as the previous month. Of the 13 sold homes, 85% were sold under asking, 8% were sold at asking, and 8% were sold over asking.

Days on Market for 77040, TX

How long does it take to sell a home in 77040, TX?

Average Sale Time

Feb 2023Feb 2024CHANGE
18 Days26 Days+44.0%

Summary: Homes in 77040 had an average of 26 days on market in Feb 2024, up by 44% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 77040 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 13 homes were sold in 77040; 69% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 0% 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 1 Day Ago

Newest Listings in 77040, TX

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