The median price of homes sold was up in four of five local ZIP codes covering the Heights, River Oaks and Montrose areas when comparing data from July 2024 with July 2023. The 77019 ZIP code, which covers parts of Montrose and River Oaks, was the only one to see a drop in median price when comparing the two months.
A total of 25 homes sold in 77019 in July with a median price of $515,000. By comparison, the median price was above $650,000 in each of the past three months in that ZIP code and was near $800,000 in June, when 32 homes sold.
Meanwhile, median prices rose in the 77006, 77007 and 77008 ZIP codes, where homes typically sell for around $500,000-$650,000. Both the 77006 and 77008 ZIP codes saw bumps of around 22% when comparing July 2024 with July 2023.
Data was provided to
Community Impact by Victoria Hawes Devenney with
Jamestown Estate Homes.
In addition to seeing the largest percentage increase in median sales price, the 77006 and 77008 ZIP codes also saw the largest increases in total homes sold when comparing July 2024 with July 2023. The 77008 ZIP code, which covers the Heights, consistently leads the pack in total sales and has seen 75 or more homes sales in each of the past four months.
Total home sales fell slightly in the 77007 and 77098 ZIP codes, and dropped the most in the 77019 ZIP code.
The average number of days a home spends on the market before selling did not change drastically in any local ZIP code aside from 77019, where it hit 56 in July, close to doubling the mark from one year ago. The average days on market ranged between 23-31 in each of the other four local ZIP codes.
For the second month in a row, roughly 40% of homes sold in the local area had sale prices that fell between $500,000-$750,000. Another 25.7% sold for between $250,000-$500,000.
