Roger Martin Properties' Market Report

Houston, TX 77024

Single-Family Homes

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



Houston, TX 77024

Wed Dec 11 2024
This week the median list price for Houston, TX 77024 is $2,987,499 with the market action index hovering around 34. This is less than last month's market action index of 35. Inventory has decreased to 70. 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 Seller's Advantage

Market Narrative

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Houston, TX 77024

Wed Dec 11 2024
This week the median list price for Houston, TX 77024 is $2,987,499 with the market action index hovering around 34. This is less than last month's market action index of 35. Inventory has decreased to 70. 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 Seller's Advantage

Market Narrative

In the last few weeks the market has achieved a relative stasis point in terms of sales to inventory. However, inventory is sufficiently low to keep us in the Seller’s Market zone so watch changes in the MAI. If the market heats up, prices are likely to resume an upward climb.

Real-Time Market Profile

Never miss important changes in the Houston market.
Median List Price $2,987,499
Median Price of New Listings $3,599,999
Per Square Foot $523
Average Days on Market 168
Median Days on Market 119
Price Decreased 34%
Price Increased 0%
Relisted 21%
Inventory 70
Median Rent
Market Action 34
Slight Seller'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
$6,500,000 9,661 0.5 - 1 acre 5 7.5 1 1 1 175
$3,900,000 6,778 0.5 - 1 acre 5 6.5 17 1 0 70
$2,097,475 5,016 0.25 - 0.5 acre 4 4.5 28 1 2 171
$1,522,500 3,113 6,500 - 8,000 sqft 3 3.5 44 1 1 87