Is Washington Avenue Coalition / Memorial Park, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Washington Avenue Coalition / Memorial Park has remained a Seller's Market.
Key Takeaway
Washington Avenue Coalition / Memorial Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Washington Avenue Coalition / Memorial Park, TX
How much do homes in Washington Avenue Coalition / Memorial Park, TX cost?
Median Sold Price
$522,500
$235/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Washington Avenue Coalition / Memorial Park have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Washington Avenue Coalition / Memorial Park was $522,500 in May 2024, up 3.5% from last year, and the median price per square foot was $235.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $216.5K | $212K | -2.1% |
| 2 Bedrooms | $379.9K | $391.7K | +3.1% |
| 3 Bedrooms | $515K | $525.3K | +2.0% |
| 4 Bedrooms | $875K | $805K | -8.0% |
| 5+ Bedrooms | $849K | $945K | +11.3% |
Summary: Washington Avenue Coalition / Memorial Park housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.1%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 2%, 4 bedroom homes decreased by 8%, and 5+ bedroom homes increased by 11.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Washington Avenue Coalition / Memorial Park | $505K | $522.5K | +3.5% |
| Central Houston | $532K | $550K | +3.4% |
| Rice Military | $549.9K | $568K | +3.3% |
| West End | $488.5K | $494.9K | +1.3% |
| Magnolia Grove | $512.5K | $497K | -3.0% |
Housing Supply in Washington Avenue Coalition / Memorial Park, TX
How many homes are available in Washington Avenue Coalition / Memorial Park, TX?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 290 | 340 | +17.2% |
Summary: The Washington Avenue Coalition / Memorial Park real estate market had 340 homes for sale in May 2024, a 17.2% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 6 | 7 | +16.7% |
| 2 Bedrooms | 47 | 46 | -2.1% |
| 3 Bedrooms | 197 | 235 | +19.3% |
| 4 Bedrooms | 36 | 48 | +33.3% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Washington Avenue Coalition / Memorial Park housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes decreased by 2.1%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 72 | 63 | -12.5% |
Asking Price vs. Sold Price
34 Homes Were Sold
Under Asking
16 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Washington Avenue Coalition / Memorial Park, you may be able to get a good deal. 54% of homes here sold below asking price last month.
Summary: A total of 63 homes were sold or pending in Washington Avenue Coalition / Memorial Park in May 2024, down by 12.5% month-over-month. Of the 63 sold homes, 54% were sold under asking, 25% were sold at asking, and 21% were sold over asking.
Days on Market for Washington Avenue Coalition / Memorial Park, TX
How long does it take to sell a home in Washington Avenue Coalition / Memorial Park, TX?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 36 Days | 27 Days | -25.4% |
Summary: Homes in Washington Avenue Coalition / Memorial Park had an average of 27 days on market in May 2024, down by 25.4% compared to last year.
Breakdown of Home Sale Times
46 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Washington Avenue Coalition / Memorial Park are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 63 homes were sold in Washington Avenue Coalition / Memorial Park; 73% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
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