Is Northwest Houston, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Northwest Houston has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $99K | $121K | +22.2% |
2 Bedrooms | $190K | $195.9K | +3.2% |
3 Bedrooms | $370K | $381.3K | +3.1% |
4 Bedrooms | $465K | $511.8K | +10.1% |
5+ Bedrooms | $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 | $386.6K | $427K | +10.4% |
Spring Branch West | $389.9K | $420K | +7.7% |
Northwest Houston | $385.2K | $409.8K | +6.4% |
Westbranch | $247.9K | $260K | +4.8% |
Housing Supply in Northwest Houston, TX
How many homes are available in Northwest Houston, TX?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
403 | 474 | +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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 39 | 45 | +15.4% |
3 Bedrooms | 214 | 261 | +22.0% |
4 Bedrooms | 113 | 129 | +14.2% |
5+ Bedrooms | 34 | 34 | 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 2024 | Feb 2024 | CHANGE |
---|---|---|
54 | 87 | +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
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 2023 | Feb 2024 | CHANGE |
---|---|---|
56 Days | 44 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
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.