Is 78731, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 78731 is a neutral's market

Buyer's
Market

Difference Since February 2023

At the same time last year, 78731 was a Seller's Market.

Key Takeaway

78731 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in 78731, TX

How much do homes in 78731, TX cost?

Median Sold Price

$998,000

$429/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

-$94,500(-8.6%)

Key Takeaway

Homes in 78731 have sold for 8.6% less than they did a year ago.

Summary: The median home sold price in 78731 was $998,000 in February 2024, down 8.6% from last year, and the median price per square foot was $429.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $273.5K$271K
-0.9%
2 $486.5K$423K
-13.1%
3 $967.5K$957.5K
-1.0%
4 $1.3M$1.2M
-6.5%
5+ $1.7M$2.0M
+17.9%

Summary: 78731 housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.9%, 2 bedroom homes decreased by 13.1%, 3 bedroom homes decreased by 1%, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes increased by 17.9%.

Median Sold Price Compared To Nearby Zip Codes

78756
-5.9%
78731
-8.6%
78757
-9.3%
78759
-12.4%

Housing Supply in 78731, TX

How many homes are available in 78731, TX?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
85121+42.4%

Summary: The 78731 real estate market had 121 homes for sale in February 2024, a 42.4% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 33
0.0%
2 819
+137.5%
3 3138
+22.6%
4 3545
+28.6%
5+ 816
+100.0%

Summary: The 78731 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 137.5%, 3 bedroom homes increased by 22.6%, 4 bedroom homes increased by 28.6%, and 5+ bedroom homes increased by 100%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
1018+80.0%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 78731, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 18 homes were sold or pending in 78731 in February 2024, up by 80.0% month-over-month. Of the 18 sold homes, 67% were sold under asking, 28% were sold at asking, and 6% were sold over asking.

Days on Market for 78731, TX

How long does it take to sell a home in 78731, TX?

Average Sale Time

Feb 2023Feb 2024CHANGE
67 Days58 Days-13.4%

Summary: Homes in 78731 had an average of 58 days on market in Feb 2024, down by 13.4% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 78731 are selling fast, if you're buying plan to act quickly.

Summary: During February 2024, 18 homes were sold in 78731; 44% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 28% 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 4 Days Ago

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