Is Central Houston, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Central Houston has remained a Seller's Market.
Housing Prices in Central Houston, TX
How much do homes in Central Houston, TX cost?
Median Sold Price
$550,142
$256/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Central Houston was $550,142 in April 2024, up 4.8% from last year, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $218K | $229.9K | +5.5% |
2 Bedrooms | $380K | $399.9K | +5.3% |
3 Bedrooms | $535K | $554.4K | +3.6% |
4 Bedrooms | $970.9K | $991.5K | +2.1% |
5+ Bedrooms | $1.8M | $1.9M | +4.4% |
Summary: Central Houston housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.5%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 3.6%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 4.4%.
Median Sold Price Compared To Nearby Neighborhoods
Central Houston | $525.1K | $550.1K | +4.8% |
Washington Avenue Coalition / Memorial Park | $501.6K | $522.5K | +4.2% |
Rice Military | $535K | $552.5K | +3.3% |
West End | $486K | $485K | -0.2% |
Magnolia Grove | $515K | $501K | -2.7% |
Housing Supply in Central Houston, TX
How many homes are available in Central Houston, TX?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,623 | 1,949 | +20.1% |
Summary: The Central Houston real estate market had 1,949 homes for sale in April 2024, a 20.1% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 93 | 102 | +9.7% |
2 Bedrooms | 364 | 431 | +18.4% |
3 Bedrooms | 830 | 1,005 | +21.1% |
4 Bedrooms | 251 | 312 | +24.3% |
5+ Bedrooms | 85 | 99 | +16.5% |
Summary: The Central Houston housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.7%, 2 bedroom homes increased by 18.4%, 3 bedroom homes increased by 21.1%, 4 bedroom homes increased by 24.3%, and 5+ bedroom homes increased by 16.5%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
334 | 356 | +6.6% |
Asking Price vs. Sold Price
219 Homes Were Sold
Under Asking
71 Homes Were Sold
At Asking
66 Homes Were Sold
Over Asking
Summary: A total of 356 homes were sold or pending in Central Houston in April 2024, up by 6.6% month-over-month. Of the 356 sold homes, 62% were sold under asking, 20% were sold at asking, and 19% were sold over asking.
Days on Market for Central Houston, TX
How long does it take to sell a home in Central Houston, TX?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
32 Days | 32 Days | +0.5% |
Summary: Homes in Central Houston had an average of 32 days on market in Apr 2024, up by 0.5% compared to last year.
Breakdown of Home Sale Times
245 Homes Were Sold
Under 30 Days
75 Homes Were Sold
In 30 - 90 Days
36 Homes Were Sold
Over 90 Days
Summary: During April 2024, 356 homes were sold in Central Houston; 69% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.