Is 78602, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78602 is a seller's market

Buyer's
Market

Difference Since December 2021

Since last year, 78602 has remained a Seller's Market.

Key Takeaway

78602 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in 78602, TX cost?

Median Sold Price

$420,875

$235/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2021

+$60,875(+16.9%)

Key Takeaway

Homes in 78602 have sold for 16.9% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSDec 2021Dec 2022%
1 $170K$289K
+70.0%
2 $302.5K$350K
+15.7%
3 $350.1K$411.3K
+17.5%
4 $405K$449K
+10.9%
5+ $600K$607K
+1.2%

Median Sold Price Compared To Nearby Zip Codes

78957
+22.1%
78602
+16.9%
78659
+14.8%
78612
+11.9%

How many homes are available in 78602, TX?

Number of Homes For Sale

Nov 2022Dec 2022%
159156-1.9%

Homes For Sale By Bedroom Count

# BEDSNov 2022Dec 2022%
1 22
0.0%
2 45
+25.0%
3 8987
-2.2%
4 5956
-5.1%
5+ 56
+20.0%

Number of Homes Sold

Nov 2022Dec 2022%
2331+34.8%

Asking Price vs. Sold Price

20 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78602, you may be able to get a good deal. 64.5% of homes here sold below asking price last month.

Average Sale Time

Dec 2021Dec 2022%
26 Days57 Days+117.0%

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

13 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 78602 has remained consistent over time.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About 78602, TX

There are 156 homes are for sale in 78602, TX real estate market. In December 2022 in 78602, TX there were 1.9% less homes for sale than in November 2022. In December 2022, listings were on the market for 57 days. During the same period, the median list price in this real estate market was $420,875. Listing prices have changed in this real estate market between November 2022 and December 2022: 1 bedroom properties became 70% more expensive, the cost of 2 bedrooms properties went up by 15.7%, prices of 3 bedrooms properties increased by 17.5%, prices of 4 bedrooms properties increased by 10.9%, the cost of 5 bedrooms properties went up by 1.2%. This housing market inventory have changed: 1 bedroom homes did not move, volume of 2 bedrooms homes went up by 25%, the quantity of 3 bedrooms homes went down by 2.2%, volume of 4 bedrooms homes went down by 5.1%, 5 bedrooms homes became 20% more available. In December 2022, from all listings sold in 78602, TX there were more than 6 sold above asking price, over 20 sold below and more than 5 were sold right at the asked price.