Is Smith County, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Smith County is a buyer's market

Buyer's
Market

Difference Since March 2023

At the same time last year, Smith County was a Seller's Market.

Key Takeaway

Smith County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Smith County, TX

How much do homes in Smith County, TX cost?

Median Sold Price

$487,170

$211/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$114,680(+30.8%)

Key Takeaway

Homes in Smith County have sold for 30.8% more than they did a year ago.

Summary: The median home sold price in Smith County was $487,170 in March 2024, up 30.8% from last year, and the median price per square foot was $211.

Median Sold Price By Bedroom Count

# BEDSMar 2023Mar 2024CHANGE
1 --
N/A
2 $390K$422.5K
+8.3%
3 $345.6K$465K
+34.5%
4 $389.2K$633.5K
+62.8%
5+ $720K$494.8K
-31.3%

Summary: Smith County 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 8.3%, 3 bedroom homes increased by 34.5%, 4 bedroom homes increased by 62.8%, and 5+ bedroom homes decreased by 31.3%.

Housing Supply in Smith County, TX

How many homes are available in Smith County, TX?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
310400+29.0%

Summary: The Smith County real estate market had 400 homes for sale in March 2024, a 29.0% increase compared to February 2024.

Homes For Sale By Bedroom Count

# BEDSFeb 2024Mar 2024CHANGE
1 43
-25.0%
2 2024
+20.0%
3 128177
+38.3%
4 123157
+27.6%
5+ 3539
+11.4%

Summary: The Smith County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 38.3%, 4 bedroom homes increased by 27.6%, and 5+ bedroom homes increased by 11.4%.

Number of Homes Sold

Feb 2024Mar 2024CHANGE
2545+80.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Smith County, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 45 homes were sold or pending in Smith County in March 2024, up by 80.0% month-over-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 Smith County, TX

How long does it take to sell a home in Smith County, TX?

Average Sale Time

Mar 2023Mar 2024CHANGE
51 Days95 Days+87.8%

Summary: Homes in Smith County had an average of 95 days on market in Mar 2024, up by 87.8% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

21 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Smith County are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During March 2024, 45 homes were sold in Smith County; 29% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 47% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Smith County, TX

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