Market Trends in Pearland\/Friendswood Area (Manvel, Texas) - April 2024..So Far (Versus 2023)

Real estate markets are dynamic and can be influenced by various factors such as location, demand, and economic conditions. In this blog post, we'll analyze recent data on homes sold, median home sales prices, median days on the market, and homes sold by price point in five zip codes in Manvel, TX. By examining these metrics, we can gain insights into the trends shaping the local real estate market and help prospective buyers and sellers make informed decisions.

In April 2023, 44 homes were sold in zip code 77546, with a median sales price of $473,250 and a median of 19 days on the market. Fast forward to March 2024, the number of homes sold, so far is 5, which would mean an eventual increase to 48 homes sold by the end of the month (a pace of 2 homes per days x 30 days in April), with a median sales price decreasing to $330,000, and the median days on the market decreased to just 3, indicating an 30.27% decrease from the previous year.

note: The days on the market are low as we aren't to the end of the month, yet. Likewise would be for the median sales price and ultimately the eventual increase to the number of homes sold.

Zip code 77578 experienced a contrasting trend. In April 2023, 52 homes were sold with a median sales price of $494,990 and a median of 63 days on the market. However, in April 2024, the number of homes sold decreased to 4 (so far), while the median sales price decreased to $475,000, and the median days on the market dropped to 35, indicating a 4.04% decrease from the previous year.

note: The days on the market are low as we aren't to the end of the month, yet. Likewise would be for the median sales price and ultimately the eventual increase to the number of homes sold.

In April 2023, 30 homes were sold in zip code 77581, with a median sales price of $352,500 and a median of 17 days on the market. Interestingly, in April 2024, the number of homes sold decreased to 8 (so far), but the median sales price increased to $362,500, and the median days on the market decreased to 8, showing a 3.66% increase from the previous year.

note: The days on the market are low as we aren't to the end of the month, yet. Likewise would be for the median sales price and ultimately the eventual increase to the number of homes sold.

Zip code 77583 saw fluctuations in its real estate market. In April 2023, 111 homes were sold with a median sales price of $321,555 and a median of 78 days on the market. However, in April 2024, the number of homes sold decreased to 13 (so far), while the median sales price increased to $353,000, and the median days on the market decreased to 77, indicating a 9.78% increase from the previous year.

note: The days on the market are low as we aren't to the end of the month, yet. Likewise would be for the median sales price and ultimately the eventual increase to the number of homes sold.

Lastly, zip code 77584 experienced notable changes. In April 2023, 64 homes were sold with a median sales price of $375,000 and a median of 11 days on the market. By April 2024, the number of homes sold decreased to 9 (so far), with a median sales price increased to $406,000, and the median days on the market increased to 15 days, showing about a 8.26% increase from the previous year.

In April 2024 (so far), the majority of homes sold in the Pearland/Manvel, Texas area fell within the $200,000-$400,000 price range, with 23 homes sold. Additionally, 12 homes were sold in the $400,000-$600,000 range, followed by 3 homes in the $600,000-$800,000 range, and 1 homes each in the $800,000+ price point.

In conclusion, the real estate market in the Pearland/Manvel, TX area exhibits a mix of trends across different zip codes, reflecting varying levels of demand, pricing dynamics, and market conditions. While some areas experienced decreases in the number of homes sold and median sales prices, others saw increases or fluctuations.

Understanding these trends can help prospective buyers and sellers navigate the market more effectively and make informed decisions tailored to their specific needs and preferences. Whether you're considering buying or selling a home in Manvel, TX, staying informed about local market trends is key to achieving success in your real estate endeavors.

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