Market Trends in Pearland\/Friendswood Area (Manvel, Texas) - Februrary 2024 (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 Februrary 2023, 42 homes were sold in zip code 77546, with a median sales price of $375,000 and a median of 23 days on the market. Fast forward to Februrary 2024, the number of homes sold decreased to 34, with a median sales price dropping to $406,500, and the median days on the market decreased to 57, indicating an 8.4% increase from the previous year.

Zip code 77578 experienced a contrasting trend. In Februrary 2023, 57 homes were sold with a median sales price of $449,900 and a median of 110 days on the market. However, in February 2024, the number of homes sold decreased to 39, while the median sales price increased to $450,000, and the median days on the market dropped to 72, indicating a 0.022% increase from the previous year.

In February 2023, 17 homes were sold in zip code 77581, with a median sales price of $328,600 and a median of 7 days on the market. Interestingly, in February 2024, the number of homes sold increased to 26, but the median sales price increased to $359,950, and the median days on the market surged to 39, showing a 9.54% increase from the previous year.

Zip code 77583 saw fluctuations in its real estate market. In February 2023, 96 homes were sold with a median sales price of $310,405 and a median of 97 days on the market. However, in February 2024, the number of homes sold decreased to 67, while the median sales price increased to $347,000, and the median days on the market decreased to 66, indicating a 11.79% increase from the previous year.

Lastly, zip code 77584 experienced notable changes. In February 2023, 47 homes were sold with a median sales price of $334,900 and a median of 35 days on the market. By February 2024, the number of homes sold decreased to 44, with a median sales price increased to $365,000, and the median days on the market almost unchanged at 34, showing about a 9% increase from the previous year.

In February 2024, the majority of homes sold in the Pearland/Manvel, Texas area fell within the $200,000-$400,000 price range, with 134 homes sold. Additionally, 74 homes were sold in the $400,000-$600,000 range, followed by 19 homes in the $600,000-$800,000 range, and 11 homes each in the less than $200,000 and $800,000+ price points.

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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