Is Greater Hobby Area, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Greater Hobby Area has remained a Seller's Market.
Key Takeaway
Greater Hobby Area is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Greater Hobby Area, TX
How much do homes in Greater Hobby Area, TX cost?
Median Sold Price
$270,000
$155/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Greater Hobby Area have sold for 6% more than they did a year ago.
Summary: The median home sold price in Greater Hobby Area was $270,000 in April 2024, up 6% from last year, and the median price per square foot was $155.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $78K | $73K | -6.4% |
| 2 Bedrooms | $134.9K | $138.3K | +2.5% |
| 3 Bedrooms | $235K | $249.9K | +6.3% |
| 4 Bedrooms | $289.4K | $300.2K | +3.8% |
| 5+ Bedrooms | $320K | $290K | -9.4% |
Summary: Greater Hobby Area housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.4%, 2 bedroom homes increased by 2.5%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes decreased by 9.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Southeast Houston | $215.6K | $229.9K | +6.6% |
| Greater Hobby Area | $254.7K | $270K | +6.0% |
| Golfcrest / Bellfort / Reveille | $217K | $230K | +6.0% |
| Edgebrook Area | $214.4K | $224.9K | +4.9% |
| South Belt / Ellington | $248K | $259.8K | +4.8% |
Housing Supply in Greater Hobby Area, TX
How many homes are available in Greater Hobby Area, TX?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 48 | 51 | +6.3% |
Summary: The Greater Hobby Area real estate market had 51 homes for sale in April 2024, a 6.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 25 | 27 | +8.0% |
| 4 Bedrooms | 16 | 18 | +12.5% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Greater Hobby Area housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 12.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 11 | 10 | -9.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Greater Hobby Area, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Greater Hobby Area in April 2024, down by 9.1% month-over-month. Of the 10 sold homes, 60% were sold under asking, 30% were sold at asking, and 10% were sold over asking.
Days on Market for Greater Hobby Area, TX
How long does it take to sell a home in Greater Hobby Area, TX?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 26 Days | 17 Days | -33.4% |
Summary: Homes in Greater Hobby Area had an average of 17 days on market in Apr 2024, down by 33.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Greater Hobby Area are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 10 homes were sold in Greater Hobby Area; 90% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”.