Is Spring, 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, Spring has remained a Seller's Market.
Key Takeaway
Spring is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Spring, TX
How much do homes in Spring, TX cost?
Median Sold Price
$354,087
$158/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Spring have sold for 3% less than they did a year ago.
Summary: The median home sold price in Spring was $354,087 in April 2024, down 3% from last year, and the median price per square foot was $158.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $151.5K | $165.5K | +9.2% |
| 2 Bedrooms | $216K | $239.7K | +11.0% |
| 3 Bedrooms | $284.9K | $277K | -2.8% |
| 4 Bedrooms | $399.8K | $399.9K | 0.0% |
| 5+ Bedrooms | $649.7K | $652.4K | 0.4% |
Summary: Spring housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.2%, 2 bedroom homes increased by 11%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 0.4%.
Median Sold Price Compared To Nearby Cities
| Shenandoah | $379K | $472.5K | +24.7% |
| Northwest Harris | $335.2K | $335.1K | 0% |
| Spring | $365K | $354K | -3.0% |
| Southeast Montgomery | $371.4K | $356.6K | -4.0% |
| Oak Ridge North | $380K | $350.4K | -7.8% |
Housing Supply in Spring, TX
How many homes are available in Spring, TX?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 1,634 | 1,948 | +19.2% |
Summary: The Spring real estate market had 1,948 homes for sale in April 2024, a 19.2% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 6 | -25.0% |
| 2 Bedrooms | 62 | 62 | 0.0% |
| 3 Bedrooms | 545 | 641 | +17.6% |
| 4 Bedrooms | 753 | 905 | +20.2% |
| 5+ Bedrooms | 266 | 334 | +25.6% |
Summary: The Spring housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes remained the same, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 20.2%, and 5+ bedroom homes increased by 25.6%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 390 | 455 | +16.7% |
Asking Price vs. Sold Price
247 Homes Were Sold
Under Asking
96 Homes Were Sold
At Asking
112 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Spring, you may be able to get a good deal. 54.3% of homes here sold below asking price last month.
Summary: A total of 455 homes were sold or pending in Spring in April 2024, up by 16.7% month-over-month. Of the 455 sold homes, 54% were sold under asking, 21% were sold at asking, and 25% were sold over asking.
Days on Market for Spring, TX
How long does it take to sell a home in Spring, TX?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 36 Days | 29 Days | -18.6% |
Summary: Homes in Spring had an average of 29 days on market in Apr 2024, down by 18.6% compared to last year.
Breakdown of Home Sale Times
326 Homes Were Sold
Under 30 Days
87 Homes Were Sold
In 30 - 90 Days
42 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Spring are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 455 homes were sold in Spring; 72% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
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