Is 78701, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78701 is a buyer's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 78701 was a Seller's Market.

Key Takeaway

78701 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 78701, TX

How much do homes in 78701, TX cost?

Median Sold Price

$735,000

$781/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$40,000(-5.2%)

Key Takeaway

Homes in 78701 have sold for 5.2% less than they did a year ago.

Summary: The median home sold price in 78701 was $735,000 in February 2024, down 5.2% from last year, and the median price per square foot was $781.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $635K$554.5K
-12.7%
2 $949.5K$950K
0.1%
3 $2.3M$2.2M
-5.7%
4 $4.0M$3.7M
-5.0%
5+ $2.6M-
N/A

Summary: 78701 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 12.7%, 2 bedroom homes increased by 0.1%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes decreased by 5%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

78701
-5.2%
78702
-6.8%
78705
-6.9%

Housing Supply in 78701, TX

How many homes are available in 78701, TX?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
131159+21.4%

Summary: The 78701 real estate market had 159 homes for sale in February 2024, a 21.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 4553
+17.8%
2 6379
+25.4%
3 1822
+22.2%
4 33
0.0%
5+ 22
0.0%

Summary: The 78701 housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 17.8%, 2 bedroom homes increased by 25.4%, 3 bedroom homes increased by 22.2%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
97-22.2%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78701, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.

Summary: A total of 7 homes were sold or pending in 78701 in February 2024, down by 22.2% month-over-month. Of the 7 sold homes, 71% were sold under asking, 14% were sold at asking, and 14% were sold over asking.

Days on Market for 78701, TX

How long does it take to sell a home in 78701, TX?

Average Sale Time

Feb 2023Feb 2024CHANGE
111 Days56 Days-48.9%

Summary: Homes in 78701 had an average of 56 days on market in Feb 2024, down by 48.9% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 78701 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 7 homes were sold in 78701; 43% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 14% 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 28 Days Ago

Newest Listings in 78701, TX

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