Is 78617, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78617 is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, 78617 was a Seller's Market.

Key Takeaway

78617 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 78617, TX

How much do homes in 78617, TX cost?

Median Sold Price

$316,020

$192/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

-$47,980(-13.2%)

Key Takeaway

Homes in 78617 have sold for 13.2% less than they did a year ago.

Summary: The median home sold price in 78617 was $316,020 in March 2024, down 13.2% from last year, and the median price per square foot was $192.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 -$450K
N/A
3 $353.7K$304K
-14.1%
4 $392K$342.5K
-12.6%
5+ $412.7K$350K
-15.2%

Summary: 78617 housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 14.1%, 4 bedroom homes decreased by 12.6%, and 5+ bedroom homes decreased by 15.2%.

Median Sold Price Compared To Nearby Zip Codes

78612
+9.4%
78617
-13.2%
78725
-15.2%

Housing Supply in 78617, TX

How many homes are available in 78617, TX?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
6670+6.1%

Summary: The 78617 real estate market had 70 homes for sale in March 2024, a 6.1% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 22
0.0%
2 22
0.0%
3 3740
+8.1%
4 2020
0.0%
5+ 56
+20.0%

Summary: The 78617 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 8.1%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 20%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
126-50.0%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78617, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in 78617 in March 2024, down by 50.0% month-over-month. Of the 6 sold homes, 50% were sold under asking, 17% were sold at asking, and 33% were sold over asking.

Days on Market for 78617, TX

How long does it take to sell a home in 78617, TX?

Average Sale Time

Mar 2023Mar 2024CHANGE
57 Days58 Days+1.7%

Summary: Homes in 78617 had an average of 58 days on market in Mar 2024, up by 1.7% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 78617 are selling fast, if you're buying plan to act quickly.

Summary: During March 2024, 6 homes were sold in 78617; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% 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 24 Days Ago

Newest Listings in 78617, TX

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