77316
Houston, Texas

ZIP code 77316 is experiencing a buyer-favorable correction, with the median sale price settling at $336,115 after declining 3.6% year-over-year. Homes are averaging 107 days on market, significantly above the regional norm for competitive submarkets. Only 8% of properties are selling above list price, indicating sellers have lost pricing power and most transactions are closing at or below asking. This reflects a fundamental shift from the post-pandemic seller's market that characterized Houston's northern suburbs through 2024.

These conditions strongly favor patient buyers with financing already secured and investors targeting cash flow over appreciation. The extended days-on-market window creates negotiation leverage, particularly for purchasers willing to close quickly or waive minor contingencies. Sellers who purchased within the last two years face potential negative equity scenarios and should avoid listing unless necessary. First-time buyers previously priced out of this ZIP can now engage without bidding war pressure that defined 2022-2023 activity.

The PropIQ score of 55 signals continued caution through Q2 2026, suggesting price stabilization rather than immediate recovery. Monitoring absorption rates and new construction permits in adjacent ZIPs will indicate whether this correction localizes or spreads. The sub-10% above-list metric historically precedes either capitulation pricing from remaining sellers or a 6-9 month base-building period. Expect DOM to remain elevated until inventory clears or external demand catalysts emerge.