Is 78616, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, 78616 was a Seller's Market.
Housing Prices in 78616, TX
How much do homes in 78616, TX cost?
Median Sold Price
$499,000
$266/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in 78616 was $499,000 in March 2024, up 26.3% from last year, and the median price per square foot was $266.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $332K | $255K | -23.2% |
2 Bedrooms | $425K | $423.2K | -0.4% |
3 Bedrooms | $430K | $447.4K | +4.1% |
4 Bedrooms | $437.5K | $535K | +22.3% |
5+ Bedrooms | $310K | $499.9K | +61.3% |
Summary: 78616 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 23.2%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 22.3%, and 5+ bedroom homes increased by 61.3%.
Housing Supply in 78616, TX
How many homes are available in 78616, TX?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
23 | 24 | +4.3% |
Summary: The 78616 real estate market had 24 homes for sale in March 2024, a 4.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 3 | 3 | 0.0% |
3 Bedrooms | 7 | 9 | +28.6% |
4 Bedrooms | 10 | 9 | -10.0% |
5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 78616 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 28.6%, 4 bedroom homes decreased by 10%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
4 | 4 | 0.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in 78616 in March 2024, the same as the previous month. Of the 4 sold homes, 75% were sold under asking, 25% were sold at asking, and 0% were sold over asking.
Days on Market for 78616, TX
How long does it take to sell a home in 78616, TX?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
105 Days | 103 Days | -1.4% |
Summary: Homes in 78616 had an average of 103 days on market in Mar 2024, down by 1.4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 4 homes were sold in 78616; 25% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.