Is Central Houston, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Central Houston has remained a Seller's Market.
Housing Prices in Central Houston, TX
How much do homes in Central Houston, TX cost?
Median Sold Price
$549,643
$255/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Central Houston was $549,643 in March 2024, up 5.6% from last year, and the median price per square foot was $255.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $217K | $227.4K | +4.8% |
2 Bedrooms | $378.5K | $399K | +5.4% |
3 Bedrooms | $531K | $555.1K | +4.5% |
4 Bedrooms | $993.6K | $985K | -0.9% |
5+ Bedrooms | $1.8M | $2.0M | +12.9% |
Summary: Central Houston housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 5.4%, 3 bedroom homes increased by 4.5%, 4 bedroom homes decreased by 0.9%, and 5+ bedroom homes increased by 12.9%.
Median Sold Price Compared To Nearby Neighborhoods
Central Houston | $520.2K | $549.6K | +5.6% |
Washington Avenue Coalition / Memorial Park | $501.1K | $519.7K | +3.7% |
Rice Military | $537.5K | $555K | +3.3% |
Magnolia Grove | $515K | $520K | +1.0% |
West End | $474K | $477.5K | +0.7% |
Housing Supply in Central Houston, TX
How many homes are available in Central Houston, TX?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1,503 | 1,852 | +23.2% |
Summary: The Central Houston real estate market had 1,852 homes for sale in March 2024, a 23.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 91 | 99 | +8.8% |
2 Bedrooms | 332 | 408 | +22.9% |
3 Bedrooms | 773 | 954 | +23.4% |
4 Bedrooms | 230 | 293 | +27.4% |
5+ Bedrooms | 77 | 98 | +27.3% |
Summary: The Central Houston housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.8%, 2 bedroom homes increased by 22.9%, 3 bedroom homes increased by 23.4%, 4 bedroom homes increased by 27.4%, and 5+ bedroom homes increased by 27.3%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
244 | 314 | +28.7% |
Asking Price vs. Sold Price
212 Homes Were Sold
Under Asking
52 Homes Were Sold
At Asking
50 Homes Were Sold
Over Asking
Summary: A total of 314 homes were sold or pending in Central Houston in March 2024, up by 28.7% month-over-month. Of the 314 sold homes, 68% were sold under asking, 17% were sold at asking, and 16% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
41 Days | 42 Days | +3.2% |
Summary: Homes in Central Houston had an average of 42 days on market in Mar 2024, up by 3.2% compared to last year.
Breakdown of Home Sale Times
188 Homes Were Sold
Under 30 Days
77 Homes Were Sold
In 30 - 90 Days
49 Homes Were Sold
Over 90 Days
Summary: During March 2024, 314 homes were sold in Central Houston; 60% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.