Is Central Northwest, 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, Central Northwest was a Seller's Market.
Key Takeaway
Central Northwest is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Central Northwest, TX
How much do homes in Central Northwest, TX cost?
Median Sold Price
$491,904
$272/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Central Northwest have sold for 3.5% more than they did a year ago.
Summary: The median home sold price in Central Northwest was $491,904 in March 2024, up 3.5% from last year, and the median price per square foot was $272.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $369K | $379.5K | +2.8% |
| 2 Bedrooms | $367.5K | $362.5K | -1.4% |
| 3 Bedrooms | $444.9K | $439K | -1.3% |
| 4 Bedrooms | $735K | $897.7K | +22.1% |
| 5+ Bedrooms | $950K | $1.2M | +31.6% |
Summary: Central Northwest housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.8%, 2 bedroom homes decreased by 1.4%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 22.1%, and 5+ bedroom homes increased by 31.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Garden Oaks | $635K | $712.5K | +12.2% |
| Acres Home | $285K | $311K | +9.1% |
| Independence Heights | $335K | $359.9K | +7.5% |
| Central Northwest | $475.2K | $491.9K | +3.5% |
| Lazybrook / Timbergrove | $560K | $519K | -7.3% |
Housing Supply in Central Northwest, TX
How many homes are available in Central Northwest, TX?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 254 | 318 | +25.2% |
Summary: The Central Northwest real estate market had 318 homes for sale in March 2024, a 25.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 26 | 27 | +3.8% |
| 3 Bedrooms | 120 | 161 | +34.2% |
| 4 Bedrooms | 83 | 98 | +18.1% |
| 5+ Bedrooms | 24 | 31 | +29.2% |
Summary: The Central Northwest housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 34.2%, 4 bedroom homes increased by 18.1%, and 5+ bedroom homes increased by 29.2%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 44 | 52 | +18.2% |
Asking Price vs. Sold Price
31 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Central Northwest, you may be able to get a good deal. 59.6% of homes here sold below asking price last month.
Summary: A total of 52 homes were sold or pending in Central Northwest in March 2024, up by 18.2% month-over-month. Of the 52 sold homes, 60% were sold under asking, 13% were sold at asking, and 27% were sold over asking.
Days on Market for Central Northwest, TX
How long does it take to sell a home in Central Northwest, TX?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 34 Days | 29 Days | -13.1% |
Summary: Homes in Central Northwest had an average of 29 days on market in Mar 2024, down by 13.1% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Central Northwest are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 52 homes were sold in Central Northwest; 62% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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