Is 77040, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, 77040 has remained a Seller's Market.
Key Takeaway
77040 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 77040, TX
How much do homes in 77040, TX cost?
Median Sold Price
$290,000
$153/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 77040 have sold for 2.1% more than they did a year ago.
Summary: The median home sold price in 77040 was $290,000 in March 2024, up 2.1% from last year, and the median price per square foot was $153.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $210K | $207.5K | -1.2% |
| 3 Bedrooms | $255K | $265K | +3.9% |
| 4 Bedrooms | $347.5K | $374.4K | +7.8% |
| 5+ Bedrooms | $545K | $485K | -11.0% |
Summary: 77040 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.2%, 3 bedroom homes increased by 3.9%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes decreased by 11%.
Housing Supply in 77040, TX
How many homes are available in 77040, TX?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 73 | 89 | +21.9% |
Summary: The 77040 real estate market had 89 homes for sale in March 2024, a 21.9% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 40 | 45 | +12.5% |
| 4 Bedrooms | 28 | 35 | +25.0% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The 77040 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 12.5%, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 15 | 0.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 77040, you may be able to get a good deal. 80% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in 77040 in March 2024, the same as the previous month. Of the 15 sold homes, 80% were sold under asking, 7% were sold at asking, and 13% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 46 Days | 37 Days | -20.6% |
Summary: Homes in 77040 had an average of 37 days on market in Mar 2024, down by 20.6% compared to last year.
Breakdown of Home Sale Times
12 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 77040 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 15 homes were sold in 77040; 80% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”.