77040 Housing Market Report December 2024•Harris County, Texas

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Housing Prices in 77040, TX

How much do homes in 77040, TX cost?

Housing Market Conditions

Is 77040, TX a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

77040 is a Seller's Market

Difference Since December 2023

Since last year, 77040 has remained a Seller's Market.

Insight

77040 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$295,000$153/SqFt
+$9,250
+3.2%

Based on all homes sold in the last 12 months

Insight

Homes in 77040 have sold for 3.2% more than they did a year ago.

Summary: The median home sold price in 77040 was $295,000 in December 2024, up 3.2% from last year, and the median price per square foot was $153.

Median Sold Price By City

Median Sold Price By City
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
77064
+4.2%
77092
+3.2%
77040
+3.2%
77041
+2.4%
77088
+2.4%

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1--
N/A
2$204K$208K
+2.0%
3$263.4K$265K
+0.6%
4$372K$347.4K
-6.6%
5$476.5K$520K
+9.1%

Summary: 77040 housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes increased by +2.0%. The home price for 3 bedroom homes increased by +0.6%. The home price for 4 bedroom homes decreased by -6.6%. The home price for 5 bedroom homes increased by +9.1%.

Housing supply in 77040, TX

How many homes are available in 77040, TX?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
99Last MonthDec 2024
1052 months agoNov 2024
-5.7 %
Change MoMNov – Dec

Summary: The 77040 real estate market had 99 homes for sale in Dec 2024, a 5.7 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
24Last MonthDec 2024
282 months agoNov 2024
-14.3 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
100
0.0%
275
-28.6%
35151
0.0%
44238
-9.5%
555
0.0%

Summary: 77040 housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -28.6%. The inventory for 3 bedroom homes remained the same. The inventory for 4 bedroom homes decreased by -9.5%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in 77040, TX cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price7 Homes

At Asking Price9 Homes

Under Asking Price8 Homes

Insight

If you're buying a home in 77040, expect to pay close to the asking price. 37.5% of homes here sold near the asking price last month.

Summary: A total of 24 homes were sold or pending in 77040 in December 2024, down by 14.3% month-over-month. Of the 24 sold homes, 33% were sold under asking, 38% were sold at asking, and and 29% were sold over asking.

Days on Market for 77040, TX

How long does it take to sell a home in 77040, TX?

Breakdown of Home Sale Times

Under 30 Days14 Homes

30 – 90 Days8 Homes

Over 90 Days2 Homes

Insight

Many homes in 77040 are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 24 homes were sold in 77040; 58% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
37 DaysThis YearDec 2024
49 Days1 year agoDec 2023
-25.0 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in 77040 had an average listing age of 37 days in Dec 2024, down by 25.0% compared to the previous year.

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Newest Listings in 77040, TX

What homes are available in 77040, TX?

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MLS Disclaimers and Copyright

Based on information from Houston REALTORS® Information Service, for the period 01/01/2023 - 01/01/2025

Broker ReciprocityDisclaimer: 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”.

Copyright© 2025 Houston Realtors Information Service, Inc. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.


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Last updated on: 1/21/2025, 5:16:15 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.