Is Dripping Springs, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Dripping Springs was a Seller's Market.
Housing Prices in Dripping Springs, TX
How much do homes in Dripping Springs, TX cost?
Median Sold Price
$727,898
$269/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Dripping Springs was $727,898 in May 2024, up 5.2% from last year, and the median price per square foot was $269.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $600K | $600K | 0.0% |
2 Bedrooms | $443.7K | $436K | -1.7% |
3 Bedrooms | $527.8K | $528.5K | 0.1% |
4 Bedrooms | $804.9K | $783K | -2.7% |
5+ Bedrooms | $977.8K | $994.9K | +1.7% |
Summary: Dripping Springs housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.7%, 3 bedroom homes increased by 0.1%, 4 bedroom homes decreased by 2.7%, and 5+ bedroom homes increased by 1.7%.
Median Sold Price Compared To Nearby Cities
Dripping Springs | $691.8K | $727.8K | +5.2% |
Dripping Springs-Wimberley | $720.5K | $714.3K | -0.9% |
Housing Supply in Dripping Springs, TX
How many homes are available in Dripping Springs, TX?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
309 | 343 | +11.0% |
Summary: The Dripping Springs real estate market had 343 homes for sale in May 2024, a 11.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 2 | 0.0% |
2 Bedrooms | 8 | 7 | -12.5% |
3 Bedrooms | 100 | 107 | +7.0% |
4 Bedrooms | 147 | 165 | +12.2% |
5+ Bedrooms | 52 | 62 | +19.2% |
Summary: The Dripping Springs housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 7%, 4 bedroom homes increased by 12.2%, and 5+ bedroom homes increased by 19.2%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
45 | 51 | +13.3% |
Asking Price vs. Sold Price
37 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 51 homes were sold or pending in Dripping Springs in May 2024, up by 13.3% month-over-month. Of the 51 sold homes, 73% were sold under asking, 14% were sold at asking, and 14% were sold over asking.
Days on Market for Dripping Springs, TX
How long does it take to sell a home in Dripping Springs, TX?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
45 Days | 106 Days | +132.3% |
Summary: Homes in Dripping Springs had an average of 106 days on market in May 2024, up by 132.3% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
19 Homes Were Sold
Over 90 Days
Summary: During May 2024, 51 homes were sold in Dripping Springs; 33% of homes were sold within 30 days, 29% of homes were sold within 30 to 90 days, and 37% of homes were sold over 90 days.