Roger Martin Properties' Market Report
Houston, TX 77024
Single-Family Homes
www.rogermartinproperties.com | 713-661-2300 | roger@rogermartin.com
Houston, TX 77024
Sat Sep 07 2024
This week the median list price for Houston, TX 77024 is $2,624,500 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 76.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
Market Narrative
While the Market Action Index shows some strengthening in the last few weeks, prices have not seemed to move from their plateau. Should the upward trend in sales relative to inventory continue, expect prices to resume an upward climb in tandem with the MAI.
Real-Time Market Profile
| Median List Price | $2,624,500 | |
| Median Price of New Listings | $2,095,000 | |
| Per Square Foot | $495 | |
| Average Days on Market | 133 | |
| Median Days on Market | 84 | |
| Price Decreased | 39% | |
| Price Increased | 0% | |
| Relisted | 24% | |
| Inventory | 76 | |
| Median Rent | ||
| Market Action | 32 | |
| Slight Seller's Advantage | ||
Prices in this zip are remaining at a plateau, albeit significantly below the market’s peak. This week prices bumped down a bit, but not enough to indicate a resumed downward trend. Look for a persistent up-shift in the Market Action Index before we see prices significantly 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 |
|---|---|---|---|---|---|---|---|---|
| $7,250,000 | 11,762 | 0.5 - 1 acre | 5 | 7.5 | 2 | 0 | 0 | 147 |
| $3,500,000 | 6,702 | 0.5 - 1 acre | 5 | 6 | 25 | 1 | 3 | 147 |
| $2,195,000 | 4,682 | 0.25 - 0.5 acre | 4 | 4.5 | 39 | 7 | 2 | 63 |
| $1,295,000 | 2,882 | 8,000 - 10,000 sqft | 4 | 3.5 | 61 | 2 | 2 | 21 |