Roger Martin Properties' Market Report
Houston, TX 77008
Single-Family Homes
www.rogermartinproperties.com | 713-661-2300 | roger@rogermartin.com
Houston, TX 77008
Thu Sep 20 2018
This week the median list price for Houston, TX 77008 is $498,000 with the market action index hovering around 34. This is less than last month's market action index of 35. Inventory has held steady at or around 341.
Market Action Index
The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
| Today |
| Last Month |
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 | $498,000 | |
| Per Square Foot | $220 | |
| Days on Market | 118 | |
| Price Decreased | 40% | |
| Price Increased | 6% | |
| Relisted | 18% | |
| Inventory | 341 | |
| Median House Rent | ||
| Most Expensive | $3,562,990 | |
| Least Expensive | $269,500 | |
|
Market Action Index
Slight Seller's Advantage |
34 |
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 |
|---|---|---|---|---|---|---|---|---|
| $899,000 | 3,019 | 4,500 - 6,500 sqft | 3 | 3 | 4 | 7 | 5 | 114 |
| $575,000 | 2,501 | 0 - 4,500 sqft | 3 | 2 | 8 | 8 | 5 | 149 |
| $429,900 | 2,191 | 0 - 4,500 sqft | 3 | 3 | 5 | 7 | 13 | 98 |
| $373,750 | 2,047 | 0 - 4,500 sqft | 3 | 3 | 5 | 9 | 8 | 111 |