Roger Martin Properties' Market Report
Houston, TX 77024
Single-Family Homes
www.rogermartinproperties.com | 713-661-2300 | roger@rogermartin.com
Houston, TX 77024
Mon Dec 04 2023
This week the median list price for Houston, TX 77024 is $3,499,950 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
The market has achieved a relative stasis point in terms of supply and demand - conditions don’t seem to be getting hotter or cooler. However, inventory is sufficiently low to keep us in the Seller’s Market zone and prices have been moving upward as a result.
Real-Time Market Profile
| Median List Price | $3,499,950 | |
| Median Price of New Listings | $1,599,000 | |
| Per Square Foot | $501 | |
| Average Days on Market | 140 | |
| Median Days on Market | 95 | |
| Price Decreased | 41% | |
| Price Increased | 1% | |
| Relisted | 16% | |
| Inventory | 76 | |
| Median Rent | ||
| Market Action | 32 | |
| Slight Seller's Advantage | ||
You can see that prices in this zip code are marching upward and that we’re getting close to the market’s all time high. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
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 |
|---|---|---|---|---|---|---|---|---|
| $6,295,000 | 9,661 | 1 - 2.5 acres | 6 | 7.5 | 16 | 0 | 1 | 154 |
| $4,190,000 | 7,583 | 0.5 - 1 acre | 5 | 7 | 15 | 0 | 0 | 126 |
| $2,225,000 | 5,217 | 0.5 - 1 acre | 5 | 5 | 32 | 2 | 4 | 105 |
| $899,900 | 2,839 | 8,000 - 10,000 sqft | 3 | 2.5 | 61 | 1 | 2 | 70 |