Is Dripping Springs, 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, Dripping Springs was a Seller's Market.
Housing Prices in Dripping Springs, TX
How much do homes in Dripping Springs, TX cost?
Median Sold Price
$720,933
$273/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Dripping Springs was $720,933 in March 2024, down 3.9% from last year, and the median price per square foot was $273.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $600K | $600K | 0.0% |
2 Bedrooms | $487.5K | $585K | +20.0% |
3 Bedrooms | $575K | $562.5K | -2.2% |
4 Bedrooms | $840.1K | $775K | -7.8% |
5+ Bedrooms | $1.1M | $984.9K | -16.5% |
Summary: Dripping Springs housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 20%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes decreased by 7.8%, and 5+ bedroom homes decreased by 16.5%.
Median Sold Price Compared To Nearby Cities
Dripping Springs | $749.9K | $720.9K | -3.9% |
Dripping Springs-Wimberley | $771.8K | $705K | -8.7% |
Housing Supply in Dripping Springs, TX
How many homes are available in Dripping Springs, TX?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
241 | 295 | +22.4% |
Summary: The Dripping Springs real estate market had 295 homes for sale in March 2024, a 22.4% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 6 | 7 | +16.7% |
3 Bedrooms | 71 | 88 | +23.9% |
4 Bedrooms | 105 | 128 | +21.9% |
5+ Bedrooms | 55 | 68 | +23.6% |
Summary: The Dripping Springs 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 16.7%, 3 bedroom homes increased by 23.9%, 4 bedroom homes increased by 21.9%, and 5+ bedroom homes increased by 23.6%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
32 | 38 | +18.8% |
Asking Price vs. Sold Price
29 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 38 homes were sold or pending in Dripping Springs in March 2024, up by 18.8% month-over-month. Of the 38 sold homes, 76% were sold under asking, 13% were sold at asking, and 11% were sold over asking.
Days on Market for Dripping Springs, TX
How long does it take to sell a home in Dripping Springs, TX?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
75 Days | 68 Days | -10.2% |
Summary: Homes in Dripping Springs had an average of 68 days on market in Mar 2024, down by 10.2% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
11 Homes Were Sold
Over 90 Days
Summary: During March 2024, 38 homes were sold in Dripping Springs; 42% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 29% of homes were sold over 90 days.