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
$190,000
$147/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Southwest was $190,000 in April 2024, up 6.4% from last year, and the median price per square foot was $147.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | - | N/A |
2 Bedrooms | $120.5K | $105K | -12.9% |
3 Bedrooms | $175.7K | $180.9K | +2.9% |
4 Bedrooms | $191K | $201.7K | +5.6% |
5+ Bedrooms | $263K | $167K | -36.5% |
Summary: Southwest housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 12.9%, 3 bedroom homes increased by 2.9%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes decreased by 36.5%.
Median Sold Price Compared To Nearby Neighborhoods
Southwest | $178.5K | $190K | +6.4% |
Hidden Cove - Indian Creek | $170K | $180K | +5.9% |
People Active in Community Effort | $230K | $225K | -2.2% |
Housing Supply in Southwest, TX
How many homes are available in Southwest, TX?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
23 | 31 | +34.8% |
Summary: The Southwest real estate market had 31 homes for sale in April 2024, a 34.8% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 1 | 1 | 0.0% |
3 Bedrooms | 17 | 24 | +41.2% |
4 Bedrooms | 3 | 4 | +33.3% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The Southwest housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 41.2%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1 | 10 | +900.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Summary: A total of 10 homes were sold or pending in Southwest in April 2024, up by 900.0% month-over-month. Of the 10 sold homes, 50% were sold under asking, 30% were sold at asking, and 20% 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 |
---|---|---|
63 Days | 68 Days | +7.0% |
Summary: Homes in Southwest had an average of 68 days on market in Apr 2024, up by 7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 10 homes were sold in Southwest; 50% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 40% of homes were sold over 90 days.