Fri Jul 01 2022
This week the median list price for Houston, TX 77007 is $610,000 with the market action index hovering around 61. This is less than last month's market action index of 64. Inventory has increased to 109.
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
|Median List Price||$610,000|
|Median Price of New Listings||$525,000|
|Per Square Foot||$260|
|Average Days on Market||57|
|Median Days on Market||21|
|Strong Seller's Market|
Despite the fact that prices in this zip code dipped a bit this week, the median price hasn’t moved much in the last few weeks and we remain relatively close to the market’s high-water mark. Watch for persistent downward shift in the Market Action Index into the Buyer’s zone as a leading indicator of the price strength subsiding.
Each segment below represents approximately 25% of the market ordered by price.
|Median Price||Sq. Ft.||Lot Size||Beds||Bath||Age||New||Absorbed||DOM|
|$1,699,999||3,834||8,000 - 10,000 sqft||4||3.5||16||1||4||49|
|$730,000||2,773||0 - 4,500 sqft||3||3.5||11||3||4||14|
|$550,000||2,485||0 - 4,500 sqft||3||3.5||10||9||10||14|
|$454,500||2,104||0 - 4,500 sqft||3||2.5||17||12||11||10|