Roger Martin Properties' Market Report
Houston, TX 77005
Single-Family Homes
www.rogermartinproperties.com | 713-661-2300 | roger@rogermartin.com
Houston, TX 77005
Wed Mar 20 2019
This week the median list price for Houston, TX 77005 is $1,697,000 with the market action index hovering around 30. This is an increase over last month's market action index of 29. Inventory has held steady at or around 118.
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
Home sales have begun exceeding new inventory. This is a Buyer’s market so prices are not yet moving higher as excess inventory is consumed. If the tightening continues and the market moves into the Seller’s zone, we may see upward pressure on pricing.
Real-Time Market Profile
| Median List Price | $1,697,000 | |
| Per Square Foot | $420 | |
| Days on Market | 153 | |
| Price Decreased | 29% | |
| Price Increased | 0% | |
| Relisted | 14% | |
| Inventory | 118 | |
| Median House Rent | $2,245 | |
| Most Expensive | $15,000,000 | |
| Least Expensive | $495,000 | |
| Market Action Index Slight Seller's Advantage | 30 |
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 |
|---|---|---|---|---|---|---|---|---|
| $2,799,000 | 5,790 | 0.25 - 0.5 acre | 5 | 5 | 5 | 1 | 0 | 286 |
| $2,099,000 | 4,813 | 6,500 - 8,000 sqft | 4 | 4 | 11 | 5 | 1 | 121 |
| $1,392,475 | 3,590 | 4,500 - 6,500 sqft | 4 | 3 | 26 | 4 | 3 | 114 |
| $882,000 | 2,564 | 4,500 - 6,500 sqft | 3 | 2 | 68 | 5 | 2 | 97 |