Is Palestine, 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, Palestine was a Seller's Market.
Key Takeaway
Palestine is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Palestine, TX
How much do homes in Palestine, TX cost?
Median Sold Price
$288,750
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Palestine have sold for 13% more than they did a year ago.
Summary: The median home sold price in Palestine was $288,750 in March 2024, up 13% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $67K | $320.5K | +378.4% |
| 2 Bedrooms | $185K | $235K | +27.0% |
| 3 Bedrooms | $181K | $278K | +53.6% |
| 4 Bedrooms | $300K | $315K | +5.0% |
| 5+ Bedrooms | $359K | $400K | +11.4% |
Summary: Palestine housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 378.4%, 2 bedroom homes increased by 27%, 3 bedroom homes increased by 53.6%, 4 bedroom homes increased by 5%, and 5+ bedroom homes increased by 11.4%.
Housing Supply in Palestine, TX
How many homes are available in Palestine, TX?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 53 | 62 | +17.0% |
Summary: The Palestine real estate market had 62 homes for sale in March 2024, a 17.0% 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 | 5 | 7 | +40.0% |
| 3 Bedrooms | 29 | 32 | +10.3% |
| 4 Bedrooms | 12 | 16 | +33.3% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Palestine 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 40%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 3 | 5 | +66.7% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palestine, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 5 homes were sold or pending in Palestine in March 2024, up by 66.7% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Palestine, TX
How long does it take to sell a home in Palestine, TX?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 47 Days | 94 Days | +101.7% |
Summary: Homes in Palestine had an average of 94 days on market in Mar 2024, up by 101.7% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Palestine are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During March 2024, 5 homes were sold in Palestine; 20% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 80% of homes were sold over 90 days.
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