Is Magnolia Grove, 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, Magnolia Grove has remained a Seller's Market.
Housing Prices in Magnolia Grove, TX
How much do homes in Magnolia Grove, TX cost?
Median Sold Price
$501,000
$225/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Magnolia Grove was $501,000 in April 2024, down 2.7% from last year, and the median price per square foot was $225.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $205K | $211K | +2.9% |
2 Bedrooms | $332.5K | $374K | +12.5% |
3 Bedrooms | $529.7K | $520K | -1.8% |
4 Bedrooms | $927.5K | $1.0M | +7.8% |
5+ Bedrooms | - | - | N/A |
Summary: Magnolia Grove housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.9%, 2 bedroom homes increased by 12.5%, 3 bedroom homes decreased by 1.8%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
Central Houston | $525.1K | $550.1K | +4.8% |
Washington Avenue Coalition / Memorial Park | $501.6K | $522.5K | +4.2% |
West End | $486K | $485K | -0.2% |
Montrose | $612.9K | $611.2K | -0.3% |
Magnolia Grove | $515K | $501K | -2.7% |
Housing Supply in Magnolia Grove, TX
How many homes are available in Magnolia Grove, TX?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
23 | 31 | +34.8% |
Summary: The Magnolia Grove real estate market had 31 homes for sale in April 2024, a 34.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 4 | 4 | 0.0% |
3 Bedrooms | 15 | 17 | +13.3% |
4 Bedrooms | 3 | 9 | +200.0% |
5+ Bedrooms | 0 | 0 | 0.0% |
Summary: The Magnolia Grove 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 remained the same, 3 bedroom homes increased by 13.3%, 4 bedroom homes increased by 200%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
2 | 9 | +350.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 9 homes were sold or pending in Magnolia Grove in April 2024, up by 350.0% month-over-month. Of the 9 sold homes, 78% were sold under asking, 11% were sold at asking, and 11% were sold over asking.
Days on Market for Magnolia Grove, TX
How long does it take to sell a home in Magnolia Grove, TX?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
108 Days | 50 Days | -52.9% |
Summary: Homes in Magnolia Grove had an average of 50 days on market in Apr 2024, down by 52.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During April 2024, 9 homes were sold in Magnolia Grove; 44% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.