Is Memorial, 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, Memorial has remained a Seller's Market.
Housing Prices in Memorial, TX
How much do homes in Memorial, TX cost?
Median Sold Price
$678,066
$240/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Memorial was $678,066 in March 2024, up 14.8% from last year, and the median price per square foot was $240.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $168K | $160.2K | -4.6% |
2 Bedrooms | $228K | $245.7K | +7.8% |
3 Bedrooms | $369K | $360K | -2.4% |
4 Bedrooms | $803.3K | $846.5K | +5.4% |
5+ Bedrooms | $1.2M | $1.2M | +1.8% |
Summary: Memorial housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.6%, 2 bedroom homes increased by 7.8%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 1.8%.
Median Sold Price Compared To Nearby Neighborhoods
Memorial | $590.6K | $678K | +14.8% |
Briargrove Park | $615K | $695.2K | +13.1% |
Spring Branch West | $395K | $425K | +7.6% |
Mid West | $277K | $295.9K | +6.8% |
Briar Forest | $387K | $398.7K | +3.0% |
Housing Supply in Memorial, TX
How many homes are available in Memorial, TX?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
175 | 254 | +45.1% |
Summary: The Memorial real estate market had 254 homes for sale in March 2024, a 45.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 6 | 11 | +83.3% |
2 Bedrooms | 26 | 39 | +50.0% |
3 Bedrooms | 58 | 79 | +36.2% |
4 Bedrooms | 62 | 89 | +43.5% |
5+ Bedrooms | 23 | 36 | +56.5% |
Summary: The Memorial housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 83.3%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 36.2%, 4 bedroom homes increased by 43.5%, and 5+ bedroom homes increased by 56.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
32 | 61 | +90.6% |
Asking Price vs. Sold Price
40 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Summary: A total of 61 homes were sold or pending in Memorial in March 2024, up by 90.6% month-over-month. Of the 61 sold homes, 66% were sold under asking, 13% were sold at asking, and 21% were sold over asking.
Days on Market for Memorial, TX
How long does it take to sell a home in Memorial, TX?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
55 Days | 40 Days | -27.0% |
Summary: Homes in Memorial had an average of 40 days on market in Mar 2024, down by 27% compared to last year.
Breakdown of Home Sale Times
41 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Summary: During March 2024, 61 homes were sold in Memorial; 67% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.