Is 78240, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78240 is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, 78240 has remained a Seller's Market.

Key Takeaway

78240 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 78240, TX

How much do homes in 78240, TX cost?

Median Sold Price

$284,000

$165/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$1,000(-0.4%)

Key Takeaway

The sold price of homes in 78240 has remained the same since last year.

Summary: The median home sold price in 78240 was $284,000 in February 2024, down 0.4% from last year, and the median price per square foot was $165.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $139.9K$139K
-0.7%
2 $215K$197K
-8.4%
3 $280K$285K
+1.8%
4 $325K$326.5K
0.5%
5+ $370K$385.5K
+4.2%

Summary: 78240 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.7%, 2 bedroom homes decreased by 8.4%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 0.5%, and 5+ bedroom homes increased by 4.2%.

Median Sold Price Compared To Nearby Zip Codes

78229
+5.4%
78249
+2.4%
78230
0.0%
78240
-0.4%
78238
-2.0%

Housing Supply in 78240, TX

How many homes are available in 78240, TX?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
126146+15.9%

Summary: The 78240 real estate market had 146 homes for sale in February 2024, a 15.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1117
+54.5%
3 8493
+10.7%
4 2733
+22.2%
5+ 43
-25.0%

Summary: The 78240 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 54.5%, 3 bedroom homes increased by 10.7%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1626+62.5%

Asking Price vs. Sold Price

17 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78240, you may be able to get a good deal. 65.4% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in 78240 in February 2024, up by 62.5% month-over-month. Of the 26 sold homes, 65% were sold under asking, 15% were sold at asking, and 19% were sold over asking.

Days on Market for 78240, TX

How long does it take to sell a home in 78240, TX?

Average Sale Time

Feb 2023Feb 2024CHANGE
84 Days70 Days-15.8%

Summary: Homes in 78240 had an average of 70 days on market in Feb 2024, down by 15.8% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

10 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in 78240 has remained consistent over time.

Summary: During February 2024, 26 homes were sold in 78240; 35% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 27% 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 78240, TX

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