Is Central Houston, 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, 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
$550,056
$256/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Central Houston was $550,056 in May 2024, up 3.4% from last year, and the median price per square foot was $256.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $217.5K | $233.7K | +7.5% |
2 Bedrooms | $384.7K | $401K | +4.2% |
3 Bedrooms | $538.3K | $556.9K | +3.5% |
4 Bedrooms | $975K | $995K | +2.1% |
5+ Bedrooms | $1.9M | $2.0M | +5.3% |
Summary: Central Houston housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.5%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 3.5%, 4 bedroom homes increased by 2.1%, and 5+ bedroom homes increased by 5.3%.
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 Central Houston, TX
How many homes are available in Central Houston, TX?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
1,716 | 1,973 | +15.0% |
Summary: The Central Houston real estate market had 1,973 homes for sale in May 2024, a 15.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 92 | 115 | +25.0% |
2 Bedrooms | 389 | 408 | +4.9% |
3 Bedrooms | 885 | 1,025 | +15.8% |
4 Bedrooms | 267 | 321 | +20.2% |
5+ Bedrooms | 83 | 104 | +25.3% |
Summary: The Central Houston housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 4.9%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 20.2%, and 5+ bedroom homes increased by 25.3%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
367 | 348 | -5.2% |
Asking Price vs. Sold Price
221 Homes Were Sold
Under Asking
64 Homes Were Sold
At Asking
63 Homes Were Sold
Over Asking
Summary: A total of 348 homes were sold or pending in Central Houston in May 2024, down by 5.2% month-over-month. Of the 348 sold homes, 64% were sold under asking, 18% were sold at asking, and 18% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
31 Days | 32 Days | +6.1% |
Summary: Homes in Central Houston had an average of 32 days on market in May 2024, up by 6.1% compared to last year.
Breakdown of Home Sale Times
243 Homes Were Sold
Under 30 Days
75 Homes Were Sold
In 30 - 90 Days
30 Homes Were Sold
Over 90 Days
Summary: During May 2024, 348 homes were sold in Central Houston; 70% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.