Roger Martin Properties' Market Report
Houston, TX 77024
Single-Family Homes
www.rogermartinproperties.com | 713-661-2300 | roger@rogermartin.com
Houston, TX 77024
Thu Mar 30 2023
This week the median list price for Houston, TX 77024 is $2,390,000 with the market action index hovering around 32. This is about the same as last month's market action index of 32. Inventory has decreased to 75.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market remains in a relative stasis in terms of sales to inventory. Prices have not been moving higher for several weeks. 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 persistently, prices are likely to resume an upward climb.
Real-Time Market Profile
| Median List Price | $2,390,000 | |
| Median Price of New Listings | $2,197,725 | |
| Per Square Foot | $432 | |
| Average Days on Market | 134 | |
| Median Days on Market | 119 | |
| Price Decreased | 40% | |
| Price Increased | 4% | |
| Relisted | 28% | |
| Inventory | 75 | |
| Median Rent | ||
| Market Action | 32 | |
| Slight Seller's Advantage | ||
Prices in this zip code seem to have settled around a plateau. Look for a persistent down-shift in the Market Action Index before we see prices deviate 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 |
|---|---|---|---|---|---|---|---|---|
| $6,099,500 | 10,221 | 0.5 - 1 acre | 6 | 7 | 12 | 0 | 0 | 182 |
| $2,947,000 | 6,488 | 0.5 - 1 acre | 5 | 6 | 26 | 3 | 2 | 91 |
| $1,790,000 | 4,160 | 0.25 - 0.5 acre | 4 | 4 | 48 | 2 | 4 | 70 |
| $950,000 | 3,052 | 8,000 - 10,000 sqft | 4 | 2.5 | 57 | 1 | 3 | 119 |