Roger Martin Properties' Market Report

Houston, TX 77024

Single-Family Homes

www.rogermartinproperties.com | 713-661-2300 | roger@rogermartin.com



Houston, TX 77024

Thu Sep 20 2018
This week the median list price for Houston, TX 77024 is $1,650,000 with the market action index hovering around 28. This is an increase over last month's market action index of 26. Inventory has held steady at or around 223. Click here to stay informed with the Houston market!

Market Action Index

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.

Today
Last Month

Slight Buyer's Advantage

Home sales have begun exceeding new inventory. This is a Buyer’s market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller’s zone, we may see upward pressure on pricing.

Houston, TX 77024

Thu Sep 20 2018
This week the median list price for Houston, TX 77024 is $1,650,000 with the market action index hovering around 28. This is an increase over last month's market action index of 26. Inventory has held steady at or around 223. Click here to stay informed with the Houston market!

Market Action Index

The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.

Today
Last Month

Slight Buyer's Advantage

Home sales have begun exceeding new inventory. This is a Buyer’s market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller’s zone, we may see upward pressure on pricing.

Real-Time Market Profile

Never miss important changes in the Houston market.
Median List Price $1,650,000
Per Square Foot $357
Days on Market 156
Price Decreased 49%
Price Increased 1%
Relisted 17%
Inventory 223
Median House Rent $2,375
Most Expensive $18,950,000
Least Expensive $354,900
Market Action Index
Slight Buyer's Advantage
28

We continue to see prices in this zip code bouncing around this plateau. Look for a persistent up-shift in the Market Action Index before we see prices move from these levels.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$3,250,000 7,753 1 - 2.5 acres 5 6 18 1 3 186
$1,900,000 5,151 0.5 - 1 acre 5 4 26 2 3 175
$1,380,000 3,884 0.25 - 0.5 acre 4 4 51 6 4 120
$775,000 2,909 8,000 - 10,000 sqft 4 2 55 2 6 142