Despite year-over-year growth in April, total home sales among the five ZIP codes in the Tomball and Magnolia area declined 4.62% year over year in May, according to market data provided by local real estate firm The Renee Leslie Group.
In a nutshell
While growth was seen in one of the five ZIP codes—77354—market data shows home sales decreased in the four remaining area ZIP codes.
The Magnolia-area ZIP code 77362 saw the biggest percentage decrease year over year with an 18% decrease year over year in May.
Median home sales prices increased in four of the five Tomball and Magnolia area ZIP codes, while the median home price in the Magnolia-area ZIP code 77362 decreased from $599,000 to $299,000 year over year in May.When it comes to average days on the market, each of the five area ZIP codes saw decreases year over year in May. The biggest decrease came from the Magnolia-area 77362 ZIP code, which saw homes spend 46 days on the market in May 2024 compared to 115 days on the market in May 2023.Also of note
In May, homes in the Tomball and Magnolia area sold across multiple price points, but 61.2% of them were priced between $250,000-$499,999.
