Is 77051, 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, 77051 has remained a Seller's Market.
Key Takeaway
77051 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 77051, TX
How much do homes in 77051, TX cost?
Median Sold Price
$260,990
$154/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in 77051 have sold for 23.1% more than they did a year ago.
Summary: The median home sold price in 77051 was $260,990 in March 2024, up 23.1% from last year, and the median price per square foot was $154.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $215K | +138.9% |
| 2 Bedrooms | $142.5K | $156K | +9.5% |
| 3 Bedrooms | $219.5K | $260K | +18.5% |
| 4 Bedrooms | $294.5K | $291.9K | -0.9% |
| 5+ Bedrooms | $206K | $350K | +69.9% |
Summary: 77051 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 138.9%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 18.5%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes increased by 69.9%.
Housing Supply in 77051, TX
How many homes are available in 77051, TX?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 109 | 139 | +27.5% |
Summary: The 77051 real estate market had 139 homes for sale in March 2024, a 27.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 5 | 0.0% |
| 2 Bedrooms | 14 | 14 | 0.0% |
| 3 Bedrooms | 65 | 84 | +29.2% |
| 4 Bedrooms | 19 | 28 | +47.4% |
| 5+ Bedrooms | 6 | 8 | +33.3% |
Summary: The 77051 housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 29.2%, 4 bedroom homes increased by 47.4%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 15 | 24 | +60.0% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 77051, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 24 homes were sold or pending in 77051 in March 2024, up by 60.0% month-over-month. Of the 24 sold homes, 50% were sold under asking, 33% were sold at asking, and 17% were sold over asking.
Days on Market for 77051, TX
How long does it take to sell a home in 77051, TX?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 41 Days | 44 Days | +6.4% |
Summary: Homes in 77051 had an average of 44 days on market in Mar 2024, up by 6.4% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 77051 are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 24 homes were sold in 77051; 63% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 25% 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”.