Roger Martin Properties' Market Report

Houston, TX 77024

Single-Family Homes

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



Houston, TX 77024

Sat Aug 15 2020
This week the median list price for Houston, TX 77024 is $1,914,000 with the market action index hovering around 27. This is an increase over last month's market action index of 25. Inventory has held steady at or around 252. Click here to stay informed with the Houston market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Buyer's Advantage

Home sales have been exceeding new inventory for several weeks. Since this is a Buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller’s zone, and we are likely to see upward pressure on pricing.

Houston, TX 77024

Sat Aug 15 2020
This week the median list price for Houston, TX 77024 is $1,914,000 with the market action index hovering around 27. This is an increase over last month's market action index of 25. Inventory has held steady at or around 252. Click here to stay informed with the Houston market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Slight Buyer's Advantage

Home sales have been exceeding new inventory for several weeks. Since this is a Buyer’s market, prices are not yet moving higher as excess inventory is consumed. However, as the supply and demand trends continue, the market moves into the Seller’s zone, and we are likely to see upward pressure on pricing.

Real-Time Market Profile

Never miss important changes in the Houston market.
Median List Price $1,914,000
Per Square Foot $392
Days on Market 188
Price Decreased 47%
Price Increased 2%
Relisted 19%
Inventory 252
Median Rent $3,175
Most Expensive $29,999,999
Least Expensive $299,900
Market Action 27
Slight Buyer's Advantage

Again this week we see prices in this zip code remain roughly at the level they’ve been for several weeks. Since we’re significantly below the top of the market, 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
$4,200,000 8,424 0.5 - 1 acre 5 7 12 7 2 195
$2,295,000 5,718 0.5 - 1 acre 5 5 18 4 5 220
$1,550,000 4,579 0.5 - 1 acre 4 4 41 6 8 174
$870,000 3,030 0.25 - 0.5 acre 4 3 56 4 8 160