Is Northwest Houston, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Northwest Houston has remained a Seller's Market.
Key Takeaway
Northwest Houston is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northwest Houston, TX
How much do homes in Northwest Houston, TX cost?
Median Sold Price
$405,588
$202/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Northwest Houston have sold for 5% more than they did a year ago.
Summary: The median home sold price in Northwest Houston was $405,588 in May 2024, up 5% from last year, and the median price per square foot was $202.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $99.5K | $117.5K | +18.1% |
| 2 Bedrooms | $187.5K | $190K | +1.3% |
| 3 Bedrooms | $368.1K | $380.2K | +3.3% |
| 4 Bedrooms | $484.9K | $540K | +11.4% |
| 5+ Bedrooms | $885K | $1.0M | +14.0% |
Summary: Northwest Houston housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.1%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes increased by 14%.
Median Sold Price Compared To Nearby Neighborhoods
| Carverdale | $250K | $323K | +29.2% |
| Spring Branch North | $394.6K | $426K | +7.9% |
| Spring Branch West | $399.9K | $429K | +7.3% |
| Northwest Houston | $386.4K | $405.5K | +5.0% |
Housing Supply in Northwest Houston, TX
How many homes are available in Northwest Houston, TX?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 478 | 562 | +17.6% |
Summary: The Northwest Houston real estate market had 562 homes for sale in May 2024, a 17.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 8 | +14.3% |
| 2 Bedrooms | 44 | 56 | +27.3% |
| 3 Bedrooms | 278 | 328 | +18.0% |
| 4 Bedrooms | 119 | 136 | +14.3% |
| 5+ Bedrooms | 30 | 34 | +13.3% |
Summary: The Northwest Houston housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 27.3%, 3 bedroom homes increased by 18%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 13.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 109 | 106 | -2.8% |
Asking Price vs. Sold Price
60 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northwest Houston, you may be able to get a good deal. 56.6% of homes here sold below asking price last month.
Summary: A total of 106 homes were sold or pending in Northwest Houston in May 2024, down by 2.8% month-over-month. Of the 106 sold homes, 57% were sold under asking, 26% were sold at asking, and 17% were sold over asking.
Days on Market for Northwest Houston, TX
How long does it take to sell a home in Northwest Houston, TX?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 37 Days | 28 Days | -23.8% |
Summary: Homes in Northwest Houston had an average of 28 days on market in May 2024, down by 23.8% compared to last year.
Breakdown of Home Sale Times
77 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
9 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northwest Houston are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 106 homes were sold in Northwest Houston; 73% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”.