Is West Lake Hills, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing West Lake Hills is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, West Lake Hills has remained a Seller's Market.

Key Takeaway

West Lake Hills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in West Lake Hills, TX

How much do homes in West Lake Hills, TX cost?

Median Sold Price

$2,100,000

$753/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

-$600,000(-22.2%)

Key Takeaway

Homes in West Lake Hills have sold for 22.2% less than they did a year ago.

Summary: The median home sold price in West Lake Hills was $2,100,000 in May 2024, down 22.2% from last year, and the median price per square foot was $753.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 --
N/A
2 $538.7K$1.2M
+136.7%
3 $1.6M$1.7M
+2.7%
4 $2.7M$2.2M
-18.2%
5+ $3.4M$4.3M
+26.1%

Summary: West Lake Hills 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 increased by 136.7%, 3 bedroom homes increased by 2.7%, 4 bedroom homes decreased by 18.2%, and 5+ bedroom homes increased by 26.1%.

Median Sold Price Compared To Nearby Cities

Austin
-2.1%
West Lake Hills
-22.2%

Housing Supply in West Lake Hills, TX

How many homes are available in West Lake Hills, TX?

Number of Homes For Sale

Apr 2024May 2024CHANGE
3332-3.0%

Summary: The West Lake Hills real estate market had 32 homes for sale in May 2024, a 3.0% decrease compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 00
0.0%
2 22
0.0%
3 65
-16.7%
4 1010
0.0%
5+ 1515
0.0%

Summary: The West Lake Hills 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 remained the same, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Apr 2024May 2024CHANGE
660.0%

Asking Price vs. Sold Price

6 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in West Lake Hills, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in West Lake Hills in May 2024, the same as the previous month. Of the 6 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for West Lake Hills, TX

How long does it take to sell a home in West Lake Hills, TX?

Average Sale Time

May 2023May 2024CHANGE
62 Days43 Days-31.0%

Summary: Homes in West Lake Hills had an average of 43 days on market in May 2024, down by 31% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in West Lake Hills has remained consistent over time.

Summary: During May 2024, 6 homes were sold in West Lake Hills; 33% of homes were sold within 30 days, 67% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in West Lake Hills, TX

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