Is 78253, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78253 is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 78253 was a Seller's Market.

Key Takeaway

78253 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 78253, TX

How much do homes in 78253, TX cost?

Median Sold Price

$340,015

$162/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$25,113(-6.9%)

Key Takeaway

Homes in 78253 have sold for 6.9% less than they did a year ago.

Summary: The median home sold price in 78253 was $340,015 in February 2024, down 6.9% from last year, and the median price per square foot was $162.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $144K$315K
+118.8%
2 $320K$335K
+4.7%
3 $320.1K$300K
-6.3%
4 $395K$370K
-6.3%
5+ $425K$409.9K
-3.5%

Summary: 78253 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 118.8%, 2 bedroom homes increased by 4.7%, 3 bedroom homes decreased by 6.3%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes decreased by 3.5%.

Median Sold Price Compared To Nearby Zip Codes

78245
-1.7%
78251
-3.2%
78254
-3.4%
78253
-6.9%

Housing Supply in 78253, TX

How many homes are available in 78253, TX?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
461502+8.9%

Summary: The 78253 real estate market had 502 homes for sale in February 2024, a 8.9% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 1823
+27.8%
3 170191
+12.4%
4 210227
+8.1%
5+ 6361
-3.2%

Summary: The 78253 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 27.8%, 3 bedroom homes increased by 12.4%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes decreased by 3.2%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
6571+9.2%

Asking Price vs. Sold Price

40 Homes Were Sold
Under Asking

25 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78253, you may be able to get a good deal. 56.3% of homes here sold below asking price last month.

Summary: A total of 71 homes were sold or pending in 78253 in February 2024, up by 9.2% month-over-month. Of the 71 sold homes, 56% were sold under asking, 35% were sold at asking, and 8% were sold over asking.

Days on Market for 78253, TX

How long does it take to sell a home in 78253, TX?

Average Sale Time

Feb 2023Feb 2024CHANGE
80 Days93 Days+15.4%

Summary: Homes in 78253 had an average of 93 days on market in Feb 2024, up by 15.4% compared to last year.

Breakdown of Home Sale Times

16 Homes Were Sold
Under 30 Days

24 Homes Were Sold
In 30 - 90 Days

31 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 78253 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 71 homes were sold in 78253; 23% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 44% 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 27 Days Ago

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