Is River Oaks, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing River Oaks is a neutral's market

Buyer's
Market

Difference Since May 2023

At the same time last year, River Oaks was a Seller's Market.

Key Takeaway

River Oaks is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in River Oaks, TX

How much do homes in River Oaks, TX cost?

Median Sold Price

$2,275,000

$554/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$25,000(+1.1%)

Key Takeaway

Homes in River Oaks have sold for 1.1% more than they did a year ago.

Summary: The median home sold price in River Oaks was $2,275,000 in May 2024, up 1.1% from last year, and the median price per square foot was $554.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $237.5K$263K
+10.7%
2 $513.4K$327.5K
-36.2%
3 $1.5M$1.5M
+3.6%
4 $2.5M$2.5M
-3.6%
5+ $3.0M$4.7M
+56.5%

Summary: River Oaks housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 10.7%, 2 bedroom homes decreased by 36.2%, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes increased by 56.5%.

Median Sold Price Compared To Nearby Neighborhoods

Washington Avenue Coalition / Memorial Park
+3.5%
Rice Military
+3.3%
River Oaks
+1.1%
Magnolia Grove
-3.0%

Housing Supply in River Oaks, TX

How many homes are available in River Oaks, TX?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6991+31.9%

Summary: The River Oaks real estate market had 91 homes for sale in May 2024, a 31.9% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 44
0.0%
2 812
+50.0%
3 2026
+30.0%
4 1927
+42.1%
5+ 1822
+22.2%

Summary: The River Oaks housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 30%, 4 bedroom homes increased by 42.1%, and 5+ bedroom homes increased by 22.2%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1014+40.0%

Asking Price vs. Sold Price

9 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in River Oaks, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.

Summary: A total of 14 homes were sold or pending in River Oaks in May 2024, up by 40.0% month-over-month. Of the 14 sold homes, 64% were sold under asking, 7% were sold at asking, and 29% were sold over asking.

Days on Market for River Oaks, TX

How long does it take to sell a home in River Oaks, TX?

Average Sale Time

May 2023May 2024CHANGE
63 Days45 Days-29.6%

Summary: Homes in River Oaks had an average of 45 days on market in May 2024, down by 29.6% compared to last year.

Breakdown of Home Sale Times

9 Homes Were Sold
Under 30 Days

3 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 14 homes were sold in River Oaks; 64% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 14% 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 13 Days Ago

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