Is West 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
Since last year, West University Place has remained a Seller's Market.
Housing Prices in West University Place, TX
How much do homes in West University Place, TX cost?
Median Sold Price
$1,730,000
$488/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in West University Place was $1,730,000 in March 2024, up 8.7% from last year, and the median price per square foot was $488.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $760K | $870.5K | +14.5% |
3 Bedrooms | $986.7K | $1.0M | +7.7% |
4 Bedrooms | $1.6M | $1.8M | +8.2% |
5+ Bedrooms | $2.2M | $2.1M | -4.4% |
Summary: West University Place housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 14.5%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 8.2%, and 5+ bedroom homes decreased by 4.4%.
Median Sold Price Compared To Nearby Cities
West University Place | $1.5M | $1.7M | +8.7% |
Southside Place | $1.5M | $1.5M | -2.8% |
Houston | $329K | $314.7K | -4.4% |
Housing Supply in West University Place, TX
How many homes are available in West University Place, TX?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
50 | 66 | +32.0% |
Summary: The West University Place real estate market had 66 homes for sale in March 2024, a 32.0% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 8 | 8 | 0.0% |
3 Bedrooms | 9 | 13 | +44.4% |
4 Bedrooms | 31 | 34 | +9.7% |
5+ Bedrooms | 2 | 11 | +450.0% |
Summary: The West 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 remained the same, 3 bedroom homes increased by 44.4%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes increased by 450%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
12 | 15 | +25.0% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in West University Place in March 2024, up by 25.0% month-over-month. Of the 15 sold homes, 53% were sold under asking, 7% were sold at asking, and 40% were sold over asking.
Days on Market for West University Place, TX
How long does it take to sell a home in West University Place, TX?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
16 Days | 27 Days | +70.0% |
Summary: Homes in West University Place had an average of 27 days on market in Mar 2024, up by 70% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 15 homes were sold in West University Place; 67% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.