Is Southwest, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Southwest has remained a Seller's Market.
Housing Prices in Southwest, TX
How much do homes in Southwest, TX cost?
Median Sold Price
$277,891
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Southwest was $277,891 in April 2024, up 3% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $113K | $110K | -2.7% |
2 Bedrooms | $154.2K | $152.7K | -0.9% |
3 Bedrooms | $280.6K | $297.8K | +6.1% |
4 Bedrooms | $378.7K | $359.2K | -5.1% |
5+ Bedrooms | $700K | $827.5K | +18.2% |
Summary: Southwest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.7%, 2 bedroom homes decreased by 0.9%, 3 bedroom homes increased by 6.1%, 4 bedroom homes decreased by 5.1%, and 5+ bedroom homes increased by 18.2%.
Median Sold Price Compared To Nearby Neighborhoods
Willowbend | $385K | $430.7K | +11.9% |
Willow Meadows | $440K | $465K | +5.7% |
Southwest | $269.7K | $277.8K | +3.0% |
Corinthian Pointe | $260K | $260K | 0.0% |
Willow Meadows / Willowbend Area | $360K | $350K | -2.8% |
Housing Supply in Southwest, TX
How many homes are available in Southwest, TX?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
667 | 792 | +18.7% |
Summary: The Southwest real estate market had 792 homes for sale in April 2024, a 18.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 53 | 57 | +7.5% |
2 Bedrooms | 101 | 124 | +22.8% |
3 Bedrooms | 318 | 369 | +16.0% |
4 Bedrooms | 159 | 195 | +22.6% |
5+ Bedrooms | 36 | 47 | +30.6% |
Summary: The Southwest housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 7.5%, 2 bedroom homes increased by 22.8%, 3 bedroom homes increased by 16%, 4 bedroom homes increased by 22.6%, and 5+ bedroom homes increased by 30.6%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
134 | 149 | +11.2% |
Asking Price vs. Sold Price
92 Homes Were Sold
Under Asking
28 Homes Were Sold
At Asking
29 Homes Were Sold
Over Asking
Summary: A total of 149 homes were sold or pending in Southwest in April 2024, up by 11.2% month-over-month. Of the 149 sold homes, 62% were sold under asking, 19% were sold at asking, and 19% were sold over asking.
Days on Market for Southwest, TX
How long does it take to sell a home in Southwest, TX?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
40 Days | 37 Days | -6.6% |
Summary: Homes in Southwest had an average of 37 days on market in Apr 2024, down by 6.6% compared to last year.
Breakdown of Home Sale Times
103 Homes Were Sold
Under 30 Days
30 Homes Were Sold
In 30 - 90 Days
16 Homes Were Sold
Over 90 Days
Summary: During April 2024, 149 homes were sold in Southwest; 69% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.