Is Bay City, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Bay City has remained a Buyer's Market.
Key Takeaway
Bay City is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Bay City, TX
How much do homes in Bay City, TX cost?
Median Sold Price
$223,990
$140/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Bay City have sold for 4.2% more than they did a year ago.
Summary: The median home sold price in Bay City was $223,990 in May 2024, up 4.2% from last year, and the median price per square foot was $140.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $202.5K | $170K | -16.0% |
| 2 Bedrooms | $225K | $159.5K | -29.1% |
| 3 Bedrooms | $199.6K | $218K | +9.2% |
| 4 Bedrooms | $249.9K | $245K | -2.0% |
| 5+ Bedrooms | $268K | $456.4K | +70.3% |
Summary: Bay City housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16%, 2 bedroom homes decreased by 29.1%, 3 bedroom homes increased by 9.2%, 4 bedroom homes decreased by 2%, and 5+ bedroom homes increased by 70.3%.
Housing Supply in Bay City, TX
How many homes are available in Bay City, TX?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 128 | 147 | +14.8% |
Summary: The Bay City real estate market had 147 homes for sale in May 2024, a 14.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 8 | +14.3% |
| 2 Bedrooms | 33 | 40 | +21.2% |
| 3 Bedrooms | 62 | 71 | +14.5% |
| 4 Bedrooms | 22 | 22 | 0.0% |
| 5+ Bedrooms | 4 | 6 | +50.0% |
Summary: The Bay City housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 21.2%, 3 bedroom homes increased by 14.5%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 14 | +55.6% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Bay City, you may be able to get a good deal. 64.3% of homes here sold below asking price last month.
Summary: A total of 14 homes were sold or pending in Bay City in May 2024, up by 55.6% month-over-month. Of the 14 sold homes, 64% were sold under asking, 36% were sold at asking, and 0% were sold over asking.
Days on Market for Bay City, TX
How long does it take to sell a home in Bay City, TX?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 86 Days | 100 Days | +16.7% |
Summary: Homes in Bay City had an average of 100 days on market in May 2024, up by 16.7% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Most homes in Bay City are taking a long time to sell, it's a good idea to negotiate on homes here.
Summary: During May 2024, 14 homes were sold in Bay City; 36% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 43% of homes were sold over 90 days.
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