Roger Martin Properties' Market Report
Houston, TX 77008
Single-Family Homes
www.rogermartinproperties.com | 713-661-2300 | roger@rogermartin.com
Houston, TX 77008
Sun Jul 21 2019
This week the median list price for Houston, TX 77008 is $499,900 with the market action index hovering around 37. This is about the same as last month's market action index of 37. Inventory has held steady at or around 349.
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 | $499,900 | |
| Per Square Foot | $218 | |
| Days on Market | 105 | |
| Price Decreased | 44% | |
| Price Increased | 5% | |
| Relisted | 20% | |
| Inventory | 349 | |
| Median House Rent | $1,323 | |
| Most Expensive | $2,700,000 | |
| Least Expensive | $275,000 | |
| Market Action Index Slight Seller's Advantage | 37 |
We continue to see prices in this zip code bounce around this 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 |
|---|---|---|---|---|---|---|---|---|
| $799,900 | 3,069 | 4,500 - 6,500 sqft | 4 | 3 | 6 | 8 | 6 | 110 |
| $579,000 | 2,531 | 0 - 4,500 sqft | 3 | 2 | 7 | 13 | 7 | 101 |
| $450,000 | 2,139 | 0 - 4,500 sqft | 3 | 2 | 10 | 19 | 11 | 112 |
| $389,000 | 2,044 | 0 - 4,500 sqft | 3 | 3 | 6 | 18 | 12 | 97 |