Is Bay City, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Bay City was a Seller's Market.
Key Takeaway
Bay City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bay City, TX
How much do homes in Bay City, TX cost?
Median Sold Price
$224,990
$138/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Bay City have sold for 10% more than they did a year ago.
Summary: The median home sold price in Bay City was $224,990 in March 2024, up 10% from last year, and the median price per square foot was $138.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $200K | $205K | +2.5% |
| 2 Bedrooms | $124K | $164.5K | +32.7% |
| 3 Bedrooms | $197.7K | $218K | +10.2% |
| 4 Bedrooms | $237.9K | $245K | +2.9% |
| 5+ Bedrooms | $268K | $452.9K | +69.0% |
Summary: Bay City housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.5%, 2 bedroom homes increased by 32.7%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 69%.
Housing Supply in Bay City, TX
How many homes are available in Bay City, TX?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 115 | 135 | +17.4% |
Summary: The Bay City real estate market had 135 homes for sale in March 2024, a 17.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 6 | +20.0% |
| 2 Bedrooms | 24 | 28 | +16.7% |
| 3 Bedrooms | 54 | 66 | +22.2% |
| 4 Bedrooms | 27 | 29 | +7.4% |
| 5+ Bedrooms | 5 | 6 | +20.0% |
Summary: The Bay City housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 16.7%, 3 bedroom homes increased by 22.2%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 20%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 8 | 15 | +87.5% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bay City, you may be able to get a good deal. 73.3% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Bay City in March 2024, up by 87.5% month-over-month. Of the 15 sold homes, 73% were sold under asking, 13% were sold at asking, and 13% were sold over asking.
Days on Market for Bay City, TX
How long does it take to sell a home in Bay City, TX?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 45 Days | 123 Days | +169.6% |
Summary: Homes in Bay City had an average of 123 days on market in Mar 2024, up by 169.6% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Bay City are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 15 homes were sold in Bay City; 20% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 53% of homes were sold over 90 days.
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