Market Trends in Pearland\/Friendswood Area (Manvel, Texas) - March 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 March 2023, 55 homes were sold in zip code 77546, with a median sales price of $420,000 and a median of 20 days on the market. Fast forward to March 2024, the number of homes sold increased to 60, with a median sales price increasing to $520,000, and the median days on the market increased to 38, indicating an 23.81% increase from the previous year.

Zip code 77578 experienced a contrasting trend. In March 2023, 66 homes were sold with a median sales price of $479,231 and a median of 123 days on the market. However, in March 2024, the number of homes sold decreased to 50, while the median sales price increased to $449,500, and the median days on the market dropped to 88, indicating a 6.2% decrease from the previous year.

In March 2023, 37 homes were sold in zip code 77581, with a median sales price of $355,500 and a median of 28 days on the market. Interestingly, in March 2024, the number of homes sold increased to 46, but the median sales price increased to $342,500, and the median days on the market decreased to 10, showing a 3.66% decrease from the previous year.

Zip code 77583 saw fluctuations in its real estate market. In March 2023, 142 homes were sold with a median sales price of $310,456 and a median of 81 days on the market. However, in March 2024, the number of homes sold decreased to 101, while the median sales price increased to $344,250, and the median days on the market decreased to 65, indicating a 10.89% increase from the previous year.

Lastly, zip code 77584 experienced notable changes. In March 2023, 68 homes were sold with a median sales price of $351,500 and a median of 26 days on the market. By March 2024, the number of homes sold increased to 74, with a median sales price increased to $384,750, and the median days on the market dropped to only 17 days, showing about a 9.46% increase from the previous year.

In March 2024, the majority of homes sold in the Pearland/Manvel, Texas area fell within the $200,000-$400,000 price range, with 189 homes sold. Additionally, 93 homes were sold in the $400,000-$600,000 range, followed by 38 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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