Roger Martin Properties' Market Report
Houston, TX 77008
Single-Family Homes
www.rogermartinproperties.com | 713-661-2300 | roger@rogermartin.com
Houston, TX 77008
Sun May 29 2022
This week the median list price for Houston, TX 77008 is $649,000 with the market action index hovering around 73. This is an increase over last month's market action index of 70. Inventory has increased to 87.
Market Action Index
This answers “How’s the Market?” by comparing rate of sales versus inventory.
Strong Seller's Market
Home sales continue to outstrip supply and the Market Action Index has been moving higher for several weeks. This is a Seller’s market so watch for upward pricing pressure in the near future if the trend continues.
Real-Time Market Profile
| Median List Price | $649,000 | |
| Median Price of New Listings | $649,000 | |
| Per Square Foot | $320 | |
| Average Days on Market | 59 | |
| Median Days on Market | 7 | |
| Price Decreased | 29% | |
| Price Increased | 1% | |
| Relisted | 13% | |
| Inventory | 87 | |
| Median Rent | ||
| Market Action | 73 | |
| Strong Seller's Market | ||
While the median price in this zip code hasn’t moved much in the last few weeks, we are 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.
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 |
|---|---|---|---|---|---|---|---|---|
| $1,399,000 | 3,533 | 6,500 - 8,000 sqft | 4 | 3.5 | 14 | 10 | 7 | 14 |
| $725,000 | 2,389 | 4,500 - 6,500 sqft | 3 | 2.8 | 16 | 7 | 5 | 10 |
| $577,000 | 2,025 | 4,500 - 6,500 sqft | 3 | 2 | 62 | 10 | 4 | 7 |
| $475,000 | 1,938 | 0 - 4,500 sqft | 3 | 2.5 | 19 | 8 | 5 | 10 |