Is 77051, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, 77051 was a Seller's Market.
Key Takeaway
77051 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in 77051, TX
How much do homes in 77051, TX cost?
Median Sold Price
$265,000
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in 77051 have sold for 6% more than they did a year ago.
Summary: The median home sold price in 77051 was $265,000 in May 2024, up 6% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $150K | -33.3% |
| 2 Bedrooms | $157.8K | $150K | -5.0% |
| 3 Bedrooms | $250K | $260.4K | +4.2% |
| 4 Bedrooms | $310K | $291.9K | -5.8% |
| 5+ Bedrooms | $222.5K | $360K | +61.8% |
Summary: 77051 housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 33.3%, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 4.2%, 4 bedroom homes decreased by 5.8%, and 5+ bedroom homes increased by 61.8%.
Housing Supply in 77051, TX
How many homes are available in 77051, TX?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 126 | 159 | +26.2% |
Summary: The 77051 real estate market had 159 homes for sale in May 2024, a 26.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 12 | 13 | +8.3% |
| 3 Bedrooms | 78 | 107 | +37.2% |
| 4 Bedrooms | 28 | 32 | +14.3% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The 77051 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 increased by 8.3%, 3 bedroom homes increased by 37.2%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 20 | +53.8% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 77051, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 20 homes were sold or pending in 77051 in May 2024, up by 53.8% month-over-month. Of the 20 sold homes, 50% were sold under asking, 35% were sold at asking, and 15% were sold over asking.
Days on Market for 77051, TX
How long does it take to sell a home in 77051, TX?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 42 Days | 40 Days | -5.5% |
Summary: Homes in 77051 had an average of 40 days on market in May 2024, down by 5.5% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 77051 are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 20 homes were sold in 77051; 75% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 10% 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”.