Is University Place, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, University Place was a Seller's Market.
Key Takeaway
University Place is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in University Place, TX
How much do homes in University Place, TX cost?
Median Sold Price
$890,374
$335/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in University Place have sold for 11% more than they did a year ago.
Summary: The median home sold price in University Place was $890,374 in March 2024, up 11% from last year, and the median price per square foot was $335.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $187.5K | $176.5K | -5.9% |
| 2 Bedrooms | $350K | $467.5K | +33.6% |
| 3 Bedrooms | $799K | $855K | +7.0% |
| 4 Bedrooms | $1.4M | $1.2M | -7.9% |
| 5+ Bedrooms | $1.7M | $2.5M | +46.7% |
Summary: University Place housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.9%, 2 bedroom homes increased by 33.6%, 3 bedroom homes increased by 7%, 4 bedroom homes decreased by 7.9%, and 5+ bedroom homes increased by 46.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Morningside Place | $850K | $1.1M | +31.8% |
| Southgate | $879.2K | $1.0M | +19.4% |
| University Place | $802.5K | $890.3K | +11.0% |
| Southampton | $1.4M | $1.3M | -12.9% |
Housing Supply in University Place, TX
How many homes are available in University Place, TX?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 79 | 85 | +7.6% |
Summary: The University Place real estate market had 85 homes for sale in March 2024, a 7.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 7 | 0.0% |
| 2 Bedrooms | 15 | 16 | +6.7% |
| 3 Bedrooms | 21 | 24 | +14.3% |
| 4 Bedrooms | 31 | 29 | -6.5% |
| 5+ Bedrooms | 5 | 9 | +80.0% |
Summary: The University Place housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 14.3%, 4 bedroom homes decreased by 6.5%, and 5+ bedroom homes increased by 80%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 14 | 12 | -14.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in University Place, you may be able to get a good deal. 91.7% of homes here sold below asking price last month.
Summary: A total of 12 homes were sold or pending in University Place in March 2024, down by 14.3% month-over-month. Of the 12 sold homes, 92% were sold under asking, 0% were sold at asking, and 8% were sold over asking.
Days on Market for University Place, TX
How long does it take to sell a home in University Place, TX?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 35 Days | 26 Days | -25.5% |
Summary: Homes in University Place had an average of 26 days on market in Mar 2024, down by 25.5% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in University Place are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 12 homes were sold in University Place; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% 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”.