77007
Houston, Texas

ZIP code 77007 has shifted decisively into buyer territory, with the median sale price dropping 9.5% year-over-year to $525,000 as of February 2026. Properties now average 72.5 days on market, substantially longer than the sub-30-day velocity typical of competitive Houston submarkets. Only 8% of homes are selling above list price, indicating sellers have lost pricing power and multiple-offer scenarios have largely disappeared from this Inner Loop neighborhood.

This environment favors deliberate buyers with conventional financing who can absorb the 72.5-day transaction timeline without pressure. Investors seeking cash-flowing rentals should negotiate 5-8% below list given the limited competition, while sellers with equity cushions may consider waiting unless relocation timelines force action. The 8% above-list metric suggests bidding wars occur only on exceptionally priced or renovated properties, making condition and positioning critical for sellers who must transact now.

The PropIQ score of 55 signals ongoing caution, suggesting prices may slide another 3-5% before stabilizing in Q3 2026. Buyers should monitor days-on-market trends monthly; sustained readings above 60 days would confirm continued weakness, while compression below 50 days would indicate demand recovery. The current data set does not support aggressive seller expectations or rushed buyer decisions in this cycle phase.