Is El Lago, 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, El Lago was a Seller's Market.
Key Takeaway
El Lago is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in El Lago, TX
How much do homes in El Lago, TX cost?
Median Sold Price
$314,500
$146/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
The sold price of homes in El Lago has remained the same since last year.
Summary: The median home sold price in El Lago was $314,500 in March 2024, down 0.2% from last year, and the median price per square foot was $146.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $152.5K | $112K | -26.6% |
| 2 Bedrooms | $201.2K | $217K | +7.8% |
| 3 Bedrooms | $327.5K | $320K | -2.3% |
| 4 Bedrooms | $329.5K | $335K | +1.7% |
| 5+ Bedrooms | $388.5K | - | N/A |
Summary: El Lago housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 26.6%, 2 bedroom homes increased by 7.8%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes increased by 1.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Southeast Harris | $275K | $299.9K | +9.1% |
| Seabrook | $349K | $375K | +7.4% |
| Taylor Lake Village | $370K | $390K | +5.4% |
| El Lago | $315K | $314.5K | -0.2% |
Housing Supply in El Lago, TX
How many homes are available in El Lago, TX?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 25 | +31.6% |
Summary: The El Lago real estate market had 25 homes for sale in March 2024, a 31.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 3 | 6 | +100.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 7 | 11 | +57.1% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The El Lago housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 2 | 2 | 0.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in El Lago, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in El Lago in March 2024, the same as the previous month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for El Lago, TX
How long does it take to sell a home in El Lago, TX?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 9 Days | 21 Days | +133.3% |
Summary: Homes in El Lago had an average of 21 days on market in Mar 2024, up by 133.3% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in El Lago are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 2 homes were sold in El Lago; 50% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”.