Is Lake South, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Lake South was a Seller's Market.
Housing Prices in Lake South, TX
How much do homes in Lake South, TX cost?
Median Sold Price
$567,000
$297/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Lake South was $567,000 in May 2024, down 5.5% from last year, and the median price per square foot was $297.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $250K | N/A |
2 Bedrooms | $575K | $466.5K | -18.9% |
3 Bedrooms | $590K | $575K | -2.5% |
4 Bedrooms | $872.5K | $600K | -31.2% |
5+ Bedrooms | $1.1M | $1.5M | +34.8% |
Summary: Lake South housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 18.9%, 3 bedroom homes decreased by 2.5%, 4 bedroom homes decreased by 31.2%, and 5+ bedroom homes increased by 34.8%.
Median Sold Price Compared To Nearby Neighborhoods
Lake South | $600K | $567K | -5.5% |
Apache Shores | $600K | $534K | -11.0% |
Housing Supply in Lake South, TX
How many homes are available in Lake South, TX?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
56 | 66 | +17.9% |
Summary: The Lake South real estate market had 66 homes for sale in May 2024, a 17.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 4 | 2 | -50.0% |
3 Bedrooms | 27 | 34 | +25.9% |
4 Bedrooms | 17 | 22 | +29.4% |
5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The Lake South housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes increased by 25.9%, 4 bedroom homes increased by 29.4%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
3 | 4 | +33.3% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 4 homes were sold or pending in Lake South in May 2024, up by 33.3% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Lake South, TX
How long does it take to sell a home in Lake South, TX?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
60 Days | 16 Days | -72.2% |
Summary: Homes in Lake South had an average of 16 days on market in May 2024, down by 72.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 4 homes were sold in Lake South; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.