Is 78228, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78228 is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 78228 was a Seller's Market.

Key Takeaway

78228 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 78228, TX

How much do homes in 78228, TX cost?

Median Sold Price

$205,000

$146/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$25,415(-11.0%)

Key Takeaway

Homes in 78228 have sold for 11% less than they did a year ago.

Summary: The median home sold price in 78228 was $205,000 in February 2024, down 11% from last year, and the median price per square foot was $146.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 --
N/A
2 $154K$152.2K
-1.1%
3 $222.5K$206.7K
-7.1%
4 $287K$222.5K
-22.5%
5+ $315K$290K
-7.9%

Summary: 78228 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 1.1%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 22.5%, and 5+ bedroom homes decreased by 7.9%.

Median Sold Price Compared To Nearby Zip Codes

78229
+5.4%
78237
+1.5%
78201
-1.9%
78238
-2.0%
78228
-11.0%

Housing Supply in 78228, TX

How many homes are available in 78228, TX?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
109133+22.0%

Summary: The 78228 real estate market had 133 homes for sale in February 2024, a 22.0% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 814
+75.0%
3 7584
+12.0%
4 2026
+30.0%
5+ 69
+50.0%

Summary: The 78228 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 75%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 30%, and 5+ bedroom homes increased by 50%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1110-9.1%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78228, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in 78228 in February 2024, down by 9.1% month-over-month. Of the 10 sold homes, 50% were sold under asking, 30% were sold at asking, and 20% were sold over asking.

Days on Market for 78228, TX

How long does it take to sell a home in 78228, TX?

Average Sale Time

Feb 2023Feb 2024CHANGE
77 Days49 Days-37.2%

Summary: Homes in 78228 had an average of 49 days on market in Feb 2024, down by 37.2% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 78228 has remained consistent over time.

Summary: During February 2024, 10 homes were sold in 78228; 20% of homes were sold within 30 days, 70% of homes were sold within 30 to 90 days, and 10% 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 18 Days Ago

Newest Listings in 78228, TX

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