Home sales in Conroe and Montgomery increased significantly in December, rising 16.3% yearly. However, trends in median prices and market times revealed a mixed real estate market.
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Data from local real estate company The Spencer Team shows that the Conroe and Montgomery housing market concluded 2024 on a strong note with house sales rising by 16.3% year over year in December. Seven of the eight ZIP codes in the area saw increases in sales, suggesting strong activity generally across the area.
In five of the eight ZIP areas, median house prices dropped even with sales rising. ZIP code 77318 saw the most notable decline; the median price dropped by 16.67%, moving from $360,000 to $299,990.
Reflecting great demand in this range, 53.6% of the properties sold in December fell between $250,000 and $499, 999.
Regarding the length of time residences stayed on the market, market dynamics differed. Average market time rose yearly in four ZIP codes. With homes averaging 101 days on the market—up 65.6% from 61 days in December 2023— ZIP code 77301 had the biggest leap.
The statistics exposes a complex real estate scene in Conroe and Montgomery. Although sales are rising, changes in pricing and market time point to buyers and sellers need remain educated and closely interact with qualified real estate experts to negotiate the changing market.
