Is The Memorial Villages, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing The Memorial Villages is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, The Memorial Villages has remained a Seller's Market.

Key Takeaway

The Memorial Villages is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in The Memorial Villages, TX

How much do homes in The Memorial Villages, TX cost?

Median Sold Price

$1,790,000

$419/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$212,031(+13.4%)

Key Takeaway

Homes in The Memorial Villages have sold for 13.4% more than they did a year ago.

Summary: The median home sold price in The Memorial Villages was $1,790,000 in May 2024, up 13.4% from last year, and the median price per square foot was $419.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $121.5K$124.5K
+2.5%
2 $173K$162.5K
-6.1%
3 $877K$912.5K
+4.0%
4 $1.3M$1.6M
+25.8%
5+ $2.5M$2.5M
-2.7%

Summary: The Memorial Villages housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes decreased by 6.1%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 25.8%, and 5+ bedroom homes decreased by 2.7%.

Median Sold Price Compared To Nearby Neighborhoods

Close-In Memorial
+24.2%
The Memorial Villages
+13.4%
Mid West
+8.8%
Midwest
+3.5%
Greater Uptown
-0.9%

Housing Supply in The Memorial Villages, TX

How many homes are available in The Memorial Villages, TX?

Number of Homes For Sale

Apr 2024May 2024CHANGE
114116+1.8%

Summary: The The Memorial Villages real estate market had 116 homes for sale in May 2024, a 1.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 22
0.0%
3 2021
+5.0%
4 2830
+7.1%
5+ 6463
-1.6%

Summary: The The Memorial Villages 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 remained the same, 3 bedroom homes increased by 5%, 4 bedroom homes increased by 7.1%, and 5+ bedroom homes decreased by 1.6%.

Number of Homes Sold

Apr 2024May 2024CHANGE
2226+18.2%

Asking Price vs. Sold Price

19 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in The Memorial Villages, you may be able to get a good deal. 73.1% of homes here sold below asking price last month.

Summary: A total of 26 homes were sold or pending in The Memorial Villages in May 2024, up by 18.2% month-over-month. Of the 26 sold homes, 73% were sold under asking, 8% were sold at asking, and 19% were sold over asking.

Days on Market for The Memorial Villages, TX

How long does it take to sell a home in The Memorial Villages, TX?

Average Sale Time

May 2023May 2024CHANGE
13 Days52 Days+290.7%

Summary: Homes in The Memorial Villages had an average of 52 days on market in May 2024, up by 290.7% compared to last year.

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in The Memorial Villages are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 26 homes were sold in The Memorial Villages; 54% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 19% 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 17 Days Ago

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