77345
Houston, Texas

The 77345 market has shifted decisively into buyer territory, with the median sale price settling at $404,950—down 4.7% year-over-year. Homes are averaging 78.5 days on market, well above the Houston metro equilibrium of 45-60 days. Only 8% of properties are closing above list price, indicating minimal competition and weakened seller pricing power. This deceleration marks a clear departure from the demand-driven conditions that characterized this ZIP code through 2024.

Price-sensitive first-time buyers gain significant negotiating leverage in this environment, with the extended 78.5-day market time creating opportunities for strategic offers below ask. Investors seeking cash-flow properties can capitalize on the 4.7% price correction to improve cap rates, though appreciation potential remains uncertain. Sellers face headwinds and should avoid listing unless necessary, as the 8% above-list metric suggests most properties require pricing discipline or concessions to transact.

The PropIQ score of 55 signals caution rather than crisis, suggesting stabilization rather than freefall, but no near-term recovery catalyst is evident in the data. The 78.5-day absorption rate bears monitoring—any extension beyond 90 days would indicate deeper liquidity problems. Buyers should track month-over-month inventory levels and list price reduction frequency, as these will telegraph whether the -4.7% decline represents a bottom or mid-cycle correction.