Is Westlake, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Westlake was a Seller's Market.
Housing Prices in Westlake, TX
How much do homes in Westlake, TX cost?
Median Sold Price
$1,594,500
$512/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Westlake was $1,594,500 in April 2024, down 1.9% from last year, and the median price per square foot was $512.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $337.4K | N/A |
2 Bedrooms | $582.5K | $722.5K | +24.0% |
3 Bedrooms | $970.5K | $1.0M | +6.7% |
4 Bedrooms | $1.7M | $1.6M | -2.9% |
5+ Bedrooms | $2.7M | $2.7M | -1.3% |
Summary: Westlake 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 increased by 24%, 3 bedroom homes increased by 6.7%, 4 bedroom homes decreased by 2.9%, and 5+ bedroom homes decreased by 1.3%.
Housing Supply in Westlake, TX
How many homes are available in Westlake, TX?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
199 | 264 | +32.7% |
Summary: The Westlake real estate market had 264 homes for sale in April 2024, a 32.7% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 14 | 17 | +21.4% |
3 Bedrooms | 37 | 53 | +43.2% |
4 Bedrooms | 72 | 99 | +37.5% |
5+ Bedrooms | 75 | 95 | +26.7% |
Summary: The Westlake housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 21.4%, 3 bedroom homes increased by 43.2%, 4 bedroom homes increased by 37.5%, and 5+ bedroom homes increased by 26.7%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
25 | 36 | +44.0% |
Asking Price vs. Sold Price
26 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
5 Homes Were Sold
Over Asking
Summary: A total of 36 homes were sold or pending in Westlake in April 2024, up by 44.0% month-over-month. Of the 36 sold homes, 72% were sold under asking, 14% were sold at asking, and 14% were sold over asking.
Days on Market for Westlake, TX
How long does it take to sell a home in Westlake, TX?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
48 Days | 64 Days | +33.5% |
Summary: Homes in Westlake had an average of 64 days on market in Apr 2024, up by 33.5% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Summary: During April 2024, 36 homes were sold in Westlake; 42% of homes were sold within 30 days, 36% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.