This Week's Housing Glut Isn't Spread Evenly. It's Piling Up in Two Communities.

In the week of August 24 to 31, Manvel and Rosharon accounted for far more new listings and price cuts than anywhere else in the 11-zip territory, while the territory as a whole closed just 27 homes against 3,202 active listings.

Here's the one-line read on this week's numbers: this is a buyer's market, and the oversupply behind it isn't spread across the territory. It's piling up in two places.

Across the 11 zips we track, 3,202 homes sit active against just 27 closings this week, and 231 of those active listings already carry a price cut. That's a lot of competition for sellers, and a lot of choice for buyers, territory-wide. But almost all of that pressure traces back to two communities: Manvel and Rosharon.

Manvel posted 58 new listings and 73 price cuts this week, both the highest counts anywhere in the territory. It also carries 900 active listings, more than any other zip, while only 5 of them closed.

Manvel's median list price is $525,900, the highest in the territory. That matters because it means this isn't a discount-tier story. The priciest market we track is also the one generating the week's largest wave of new competition and repricing.

Rosharon wasn't far behind on new supply. It logged 65 new listings, the highest count in the territory, alongside 36 price cuts. Unlike Manvel, Rosharon converted more of that activity into closed deals: 8 sales this week, the most of any zip in the territory, against 698 active listings.

Rosharon's median list price is $350,000, which puts it much closer to the middle of the pack.

The territory's overall median list price is $378,990. Sitting Manvel and Rosharon on either side of that number is the real finding here: the two zips carrying this week's glut aren't clustered in one price tier. One sits at the top of the territory's price ladder, the other near the middle, and both are still running away with new listings and price cuts.

No other zip broke 50 on either new listings or price cuts this week. The next-closest market logged 44 new listings and 22 price cuts, both meaningfully lower counts.

There's a gap in this week's numbers worth naming plainly: we don't have a median sale price for the territory. Only 1 of the 27 closings that came through carried a price, short of the 5 we need to calculate one. So this story rests on counts, not price levels, and any read on where prices actually landed will have to wait.

If you're buying in Manvel or Rosharon right now, you have leverage that's harder to find elsewhere in this territory. Two markets are producing new listings and price cuts faster than anywhere else, in the same week, which typically means more room to negotiate and more inventory to compare.

If you're selling in either zip, that's the competition you're pricing against. A listing that sits flat while a wave of neighboring homes gets repriced around it is the one most likely to sit longest.

The number worth watching next is whether Rosharon's closings start catching up with its new supply, or whether Manvel's wave of price cuts starts showing up in sales instead of just listings and relistings. This week, both zips are still adding supply faster than they're clearing it.

Figures are Redfin zip-level aggregates via Listing Leads.