Is River Oaks, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$2,306,105
$554/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in River Oaks have sold for 2.5% more than they did a year ago.
Summary: The median home sold price in River Oaks was $2,306,105 in June 2024, up 2.5% from last year, and the median price per square foot was $554.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $237.5K | $311.6K | +31.2% |
| 2 Bedrooms | $351K | $330K | -6.0% |
| 3 Bedrooms | $1.3M | $1.6M | +20.2% |
| 4 Bedrooms | $2.3M | $2.9M | +23.7% |
| 5+ Bedrooms | $3.2M | $4.3M | +30.8% |
Summary: River Oaks housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 31.2%, 2 bedroom homes decreased by 6%, 3 bedroom homes increased by 20.2%, 4 bedroom homes increased by 23.7%, and 5+ bedroom homes increased by 30.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Rice Military | $549.9K | $577.5K | +5.0% |
| River Oaks | $2.2M | $2.3M | +2.5% |
| Washington Avenue Coalition / Memorial Park | $510K | $521.9K | +2.3% |
| Magnolia Grove | $515K | $493K | -4.3% |
Housing Supply in River Oaks, TX
How many homes are available in River Oaks, TX?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 84 | 76 | -9.5% |
Summary: The River Oaks real estate market had 76 homes for sale in June 2024, a 9.5% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 3 | -40.0% |
| 2 Bedrooms | 10 | 10 | 0.0% |
| 3 Bedrooms | 24 | 20 | -16.7% |
| 4 Bedrooms | 26 | 20 | -23.1% |
| 5+ Bedrooms | 19 | 23 | +21.1% |
Summary: The River Oaks housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes increased by 21.1%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 18 | 11 | -38.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in River Oaks, you may be able to get a good deal. 90.9% of homes here sold below asking price last month.
Summary: A total of 11 homes were sold or pending in River Oaks in June 2024, down by 38.9% month-over-month. Of the 11 sold homes, 91% were sold under asking, 9% were sold at asking, and 0% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 62 Days | 40 Days | -35.0% |
Summary: Homes in River Oaks had an average of 40 days on market in Jun 2024, down by 35% compared to last year.
Breakdown of Home Sale Times
6 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in River Oaks are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 11 homes were sold in River Oaks; 55% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”.