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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Northwest Houston is a seller's market

Buyer's
Market

Difference Since February 2023

Since last year, Northwest Houston has remained a Seller's Market.

Key Takeaway

Northwest Houston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Northwest Houston, TX

How much do homes in Northwest Houston, TX cost?

Median Sold Price

$409,810

$201/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$24,547(+6.4%)

Key Takeaway

Homes in Northwest Houston have sold for 6.4% more than they did a year ago.

Summary: The median home sold price in Northwest Houston was $409,810 in February 2024, up 6.4% from last year, and the median price per square foot was $201.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $99K$121K
+22.2%
2 $190K$195.9K
+3.2%
3 $370K$381.3K
+3.1%
4 $465K$511.8K
+10.1%
5+ $723K$1.1M
+61.8%

Summary: Northwest Houston housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22.2%, 2 bedroom homes increased by 3.2%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 61.8%.

Median Sold Price Compared To Nearby Neighborhoods

Spring Branch North
+10.4%
Spring Branch West
+7.7%
Northwest Houston
+6.4%
Westbranch
+4.8%

Housing Supply in Northwest Houston, TX

How many homes are available in Northwest Houston, TX?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
403474+17.6%

Summary: The Northwest Houston real estate market had 474 homes for sale in February 2024, a 17.6% increase compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 35
+66.7%
2 3945
+15.4%
3 214261
+22.0%
4 113129
+14.2%
5+ 3434
0.0%

Summary: The Northwest Houston housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 15.4%, 3 bedroom homes increased by 22%, 4 bedroom homes increased by 14.2%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
5487+61.1%

Asking Price vs. Sold Price

64 Homes Were Sold
Under Asking

12 Homes Were Sold
At Asking

11 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Northwest Houston, you may be able to get a good deal. 73.6% of homes here sold below asking price last month.

Summary: A total of 87 homes were sold or pending in Northwest Houston in February 2024, up by 61.1% month-over-month. Of the 87 sold homes, 74% were sold under asking, 14% were sold at asking, and 13% were sold over asking.

Days on Market for Northwest Houston, TX

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

Average Sale Time

Feb 2023Feb 2024CHANGE
56 Days44 Days-20.9%

Summary: Homes in Northwest Houston had an average of 44 days on market in Feb 2024, down by 20.9% compared to last year.

Breakdown of Home Sale Times

45 Homes Were Sold
Under 30 Days

23 Homes Were Sold
In 30 - 90 Days

19 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 87 homes were sold in Northwest Houston; 52% of homes were sold within 30 days, 26% of homes were sold within 30 to 90 days, and 22% 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 27 Days Ago

Newest Listings in Northwest Houston, TX

Nearby Markets to Northwest Houston, TX