Is West University Place, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West University Place is a neutral's market

Buyer's
Market

Difference Since September 2023

At the same time last year, West University Place was a Seller's Market.

Key Takeaway

West University Place 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 West University Place, TX

How much do homes in West University Place, TX cost?

Median Sold Price

$1,825,000

$517/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$235,825(+14.8%)

Key Takeaway

Homes in West University Place have sold for 14.8% more than they did a year ago.

Summary: The median home sold price in West University Place was $1,825,000 in September 2024, up 14.8% from last year, and the median price per square foot was $517.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 --
N/A
2 $977.5K$752.5K
-23.0%
3 $1.0M$1.1M
+7.3%
4 $1.7M$1.8M
+8.0%
5+ $2.1M$2.7M
+26.6%

Summary: West University Place housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 23%, 3 bedroom homes increased by 7.3%, 4 bedroom homes increased by 8%, and 5+ bedroom homes increased by 26.6%.

Median Sold Price Compared To Nearby Cities

West University Place
+14.8%
Houston
+1.9%

Housing Supply in West University Place, TX

How many homes are available in West University Place, TX?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
5360+13.2%

Summary: The West University Place real estate market had 60 homes for sale in September 2024, a 13.2% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 78
+14.3%
3 1015
+50.0%
4 2927
-6.9%
5+ 710
+42.9%

Summary: The West University Place housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes increased by 42.9%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
169-43.8%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

7 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West University Place, you could pay more than the asking price. 77.8% of homes here sold above asking price last month.

Summary: A total of 9 homes were sold or pending in West University Place in September 2024, down by 43.8% month-over-month. Of the 9 sold homes, 22% were sold under asking, 0% were sold at asking, and 78% 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

Sep 2023Sep 2024CHANGE
19 Days9 Days-48.3%

Summary: Homes in West University Place had an average of 9 days on market in Sep 2024, down by 48.3% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in West University Place are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 9 homes were sold in West University Place; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% 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 30 Days Ago

Newest Listings in West University Place, TX

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