Is Central Houston, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Central Houston is a buyer's market

Buyer's
Market

Difference Since September 2023

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

Key Takeaway

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

Housing Prices in Central Houston, TX

How much do homes in Central Houston, TX cost?

Median Sold Price

$555,977

$258/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$12,431(+2.3%)

Key Takeaway

Homes in Central Houston have sold for 2.3% more than they did a year ago.

Summary: The median home sold price in Central Houston was $555,977 in September 2024, up 2.3% from last year, and the median price per square foot was $258.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $215K$238K
+10.7%
2 $390K$399.6K
+2.5%
3 $549.9K$559.8K
+1.8%
4 $973.4K$1.0M
+4.3%
5+ $2.3M$1.9M
-16.7%

Summary: Central Houston housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.7%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 4.3%, and 5+ bedroom homes decreased by 16.7%.

Median Sold Price Compared To Nearby Neighborhoods

Magnolia Grove
+5.9%
Central Houston
+2.3%
Washington Avenue Coalition / Memorial Park
+2.3%
West End
+2.1%
Rice Military
+1.8%

Housing Supply in Central Houston, TX

How many homes are available in Central Houston, TX?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
1,6001,919+19.9%

Summary: The Central Houston real estate market had 1,919 homes for sale in September 2024, a 19.9% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 110126
+14.5%
2 374447
+19.5%
3 797949
+19.1%
4 234292
+24.8%
5+ 85105
+23.5%

Summary: The Central Houston housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.5%, 2 bedroom homes increased by 19.5%, 3 bedroom homes increased by 19.1%, 4 bedroom homes increased by 24.8%, and 5+ bedroom homes increased by 23.5%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
274225-17.9%

Asking Price vs. Sold Price

160 Homes Were Sold
Under Asking

39 Homes Were Sold
At Asking

25 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

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

Summary: A total of 225 homes were sold or pending in Central Houston in September 2024, down by 17.9% month-over-month. Of the 224 sold homes, 71% were sold under asking, 17% were sold at asking, and 11% were sold over asking.

Days on Market for Central Houston, TX

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

Average Sale Time

Sep 2023Sep 2024CHANGE
34 Days41 Days+19.2%

Summary: Homes in Central Houston had an average of 41 days on market in Sep 2024, up by 19.2% compared to last year.

Breakdown of Home Sale Times

131 Homes Were Sold
Under 30 Days

64 Homes Were Sold
In 30 - 90 Days

29 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 225 homes were sold in Central Houston; 58% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 13% 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 30 Days Ago

Newest Listings in Central Houston, TX

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