November data: Median home sale prices up in Bellaire, Meyerland and West University Place

Total home sales were lower in the ZIP codes covering Bellaire, Meyerland and West University Place in November 2023 when compared to November 2022, holding steady in the 77025 ZIP code and rising slightly in the 77030 ZIP code. Data was provided to Community Impact by Alina Rogers with Sparrow Realty.

Diving in deeper

A report from the Houston Association of Realtors released in November found single-family rentals were on the rise in the Greater Houston area as home sales have slowed, suggesting potential buyers were waiting for mortgage rates to go down before purchasing.

Median prices were up in all five local ZIP codes when comparing data from November 2023 with November 2022. Three ZIP codes saw median prices over $1 million in November 2023.

The average number of days a home spent on the market before selling varied across the five local ZIP codes, rising in three ZIP codes and dropping in two ZIP codes when comparing November 2023 data with November 2022. The average days on market was lowest in the Meyerland area, with homes in the 77096 ZIP code selling after an average of 34 days.

Just under half of homes sold in the five-ZIP code area in November were sold for more than $1 million. For the second month in a row, more homes sold in the $1 million+ range than in any other price range.