Is Mid West, 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, Mid West was a Seller's Market.
Key Takeaway
Mid West is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Mid West, TX
How much do homes in Mid West, TX cost?
Median Sold Price
$295,990
$159/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Mid West have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Mid West was $295,990 in March 2024, up 6.8% from last year, and the median price per square foot was $159.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $128K | $114.5K | -10.5% |
| 2 Bedrooms | $179.2K | $175K | -2.4% |
| 3 Bedrooms | $381.5K | $380K | -0.4% |
| 4 Bedrooms | $532.5K | $579.5K | +8.8% |
| 5+ Bedrooms | $377.5K | $675K | +78.8% |
Summary: Mid West housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 10.5%, 2 bedroom homes decreased by 2.4%, 3 bedroom homes decreased by 0.4%, 4 bedroom homes increased by 8.8%, and 5+ bedroom homes increased by 78.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Briargrove Park | $615K | $695.2K | +13.1% |
| Mid West | $277K | $295.9K | +6.8% |
| The Memorial Villages | $1.6M | $1.7M | +6.8% |
| Midwest | $289.1K | $305.1K | +5.5% |
| Greater Uptown | $345K | $356.8K | +3.4% |
Housing Supply in Mid West, TX
How many homes are available in Mid West, TX?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 154 | 178 | +15.6% |
Summary: The Mid West real estate market had 178 homes for sale in March 2024, a 15.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 20 | 28 | +40.0% |
| 2 Bedrooms | 54 | 67 | +24.1% |
| 3 Bedrooms | 59 | 61 | +3.4% |
| 4 Bedrooms | 19 | 20 | +5.3% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Mid West housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 40%, 2 bedroom homes increased by 24.1%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 26 | 22 | -15.4% |
Asking Price vs. Sold Price
17 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mid West, you may be able to get a good deal. 77.3% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in Mid West in March 2024, down by 15.4% month-over-month. Of the 22 sold homes, 77% were sold under asking, 5% were sold at asking, and 18% were sold over asking.
Days on Market for Mid West, TX
How long does it take to sell a home in Mid West, TX?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 45 Days | 37 Days | -16.0% |
Summary: Homes in Mid West had an average of 37 days on market in Mar 2024, down by 16% compared to last year.
Breakdown of Home Sale Times
13 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mid West are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 22 homes were sold in Mid West; 59% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
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