In November, the average number of days a home spent on the market before selling increased in four out of five local ZIP codes in the Heights, River Oaks and Montrose neighborhoods, compared to last year.
Of the four zip codes, three increased by 50% or more, with only one ZIP code, 77007, remaining stagnant.
Despite homes spending more time on the market, total homes sales were up in three of five local ZIP codes. The most homes sold were in the 77008 ZIP code, with 53 homes sold in the Heights neighborhood, although it was only a slight 1% increase from last year.
Homes in 77019 and 77098 ZIP codes decreased by 11% and 33%, respectively.
For the second month in a row, the median price of homes sold in four of the five local ZIP codes is down compared to last year. However, prices decreased by less than 20% in November, except in the 77008 ZIP code where prices increased by 15%.
Of the 139 homes sold in November, the most homes, 67, were sold in the $500,000 to $749,999 price range. More than 30 homes were also sold for more than a million dollars, while none were sold for less than $250,000 in any of the five ZIP codes.
