Total home sales were down in three of five local ZIP codes covering the Heights, River Oaks and Montrose areas when comparing data from May 2024 to May 2023.
The 77007 and 77008 ZIP codes both saw drops in home sales of more than 18% when comparing the two months. Those same ZIP codes—which cover the Heights and Washington Corridor areas—also saw lower home sales when making similar comparisons in February and March. The 77007 ZIP code broke the trend briefly in April 2024, when five more homes were sold compared to April 2023.
The 77008 ZIP code has now seen fewer sales in four consecutive months when making comparisons with the same month in 2023. Data was provided to Community Impact by Victoria Hawes Devenney with Jamestown Estate Homes.The median price of homes sold was down in four of five local ZIP codes when comparing May 2024 with May 2023. The 77019 ZIP code, typically among the area's most expensive, was the only one to see an increase.The average number of days a home spends on the market before selling was down in four of five local ZIP codes, falling as low as 20 days in the 77008 ZIP code. The 77019 ZIP code—which covers parts of Montrose and River Oaks—saw the average days on market drop when comparing May 2024 with May 2023 in addition to seeing an increase in median price and in total home sales.The breakdown of the price range that homes sold fell in did not change significantly in May. Most homes continue to sell for less than $750,000, but more of those homes continue to fall in the $500,000-$749,999 price range, as opposed to prices ranges under $500,000.
