Market Trends in Pearland\/Friendswood Area (Manvel, Texas) - January 2024 (Versus 2023)

Architecture rendering of the skyline over the planned Manvel Town Center which will eventually feature over 1 million sq ft. of retail, entertainment, hospitality, medical, and office space.

Skyline of planned Manvel Town Center which will eventually feature over 1 million sq ft. of retail, entertainment, hospitality, medical, and office space.

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.

Photograph of a home in the 77584 zip code

Homes in zip code 77546

Zip Code 77546:

In January 2023, 36 homes were sold in zip code 77546, with a median sales price of $374,000 and a median of 32 days on the market. Fast forward to January 2024, the number of homes sold decreased to 28, with a median sales price dropping to $328,700, and the median days on the market decreased to 26, indicating an 18.8% decrease from the previous year.

Photograph of a home in the 77578 zip code

New residential construction in zip code 77578

Zip Code 77578:

Zip code 77578 experienced a contrasting trend. In January 2023, 33 homes were sold with a median sales price of $470,000 and a median of 79 days on the market. However, in January 2024, the number of homes sold increased to 46, while the median sales price decreased to $403,434, and the median days on the market dropped to 68, indicating a 13.92% decrease from the previous year.

Photograph of a new residential construction home in the 77581 zip code

New residential construction in zip code 77581

Zip Code 77581:

In January 2023, 31 homes were sold in zip code 77581, with a median sales price of $365,000 and a median of 33 days on the market. Interestingly, in January 2024, the number of homes sold decreased to 20, but the median sales price increased to $396,000, and the median days on the market surged to 65, showing a 96.97% increase from the previous year.

Photograph of a new residential home constructed in the 77578 zip code

New residential construction in zip code 77583

Zip Code 77583:

Zip code 77583 saw fluctuations in its real estate market. In January 2023, 81 homes were sold with a median sales price of $285,000 and a median of 50 days on the market. However, in January 2024, the number of homes sold decreased to 53, while the median sales price increased to $350,000, and the median days on the market increased to 66, indicating a 32% increase from the previous year.

Home for sale in zip code 77584

Zip Code 77584:

Lastly, zip code 77584 experienced notable changes. In January 2023, 56 homes were sold with a median sales price of $349,075 and a median of 44 days on the market. By January 2024, the number of homes sold decreased to 44, with a median sales price almost unchanged at $348,500, and the median days on the market decreased significantly to 25, showing a 43.18% decrease from the previous year.

Graph depicting homes sold by price point in January 2024

Homes Sold by Price Point in January 2024:

In January 2024, the majority of homes sold in Manvel, TX fell within the $200,000-$400,000 price range, with 117 homes sold. Additionally, 55 homes were sold in the $400,000-$600,000 range, followed by 14 homes in the $600,000-$800,000 range, and 3 homes each in the less than $200,000 and $800,000+ price points.

Happy homebuyers celebrating

In conclusion, the real estate market in Manvel, TX 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.