Roger Martin Properties' Market Report
Bellaire, TX 77401
Single-Family Homes
www.rogermartinproperties.com | 713-661-2300 | roger@rogermartin.com
Bellaire, TX 77401
Fri Jul 26 2024
This week the median list price for Bellaire, TX 77401 is $1,150,000 with the market action index hovering around 41. This is about the same as last month's market action index of 41. Inventory has increased to 53.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Slight Seller's Advantage
The market has been cooling off a bit in recent weeks, as more homes are available and demand is less. We’re already seeing prices move lower as a result, though the market is still in the Seller’s zone. Expect this trend to continue especially if the index falls to the Buyer’s zone. Watch for a persistent up-turn in Market Action to signal prices rising again.
Real-Time Market Profile
| Median List Price | $1,150,000 | |
| Median Price of New Listings | $997,500 | |
| Per Square Foot | $314 | |
| Average Days on Market | 90 | |
| Median Days on Market | 56 | |
| Price Decreased | 45% | |
| Price Increased | 2% | |
| Relisted | 17% | |
| Inventory | 53 | |
| Median Rent | ||
| Market Action | 41 | |
| Slight Seller's Advantage | ||
Prices in this zip code have been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,895,000 | 5,768 | 8,000 - 10,000 sqft | 5 | 5.5 | 9 | 1 | 1 | 42 |
| $1,285,000 | 4,746 | 8,000 - 10,000 sqft | 4 | 3.5 | 20 | 0 | 0 | 56 |
| $974,900 | 3,326 | 6,500 - 8,000 sqft | 4 | 3 | 26 | 2 | 0 | 35 |
| $562,500 | 1,550 | 6,500 - 8,000 sqft | 3 | 1.5 | 74 | 1 | 4 | 77 |