Is Smith County, 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, Smith County was a Seller's Market.
Key Takeaway
Smith County is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Smith County, TX
How much do homes in Smith County, TX cost?
Median Sold Price
$575,000
$205/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Smith County have sold for 52.3% more than they did a year ago.
Summary: The median home sold price in Smith County was $575,000 in May 2024, up 52.3% from last year, and the median price per square foot was $205.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $390K | $345K | -11.5% |
| 3 Bedrooms | $350K | $696.5K | +99.0% |
| 4 Bedrooms | $399.5K | $633K | +58.4% |
| 5+ Bedrooms | - | $494.8K | N/A |
Summary: Smith County 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 11.5%, 3 bedroom homes increased by 99%, 4 bedroom homes increased by 58.4%, and 5+ bedroom homes did not change.
Housing Supply in Smith County, TX
How many homes are available in Smith County, TX?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 403 | 443 | +9.9% |
Summary: The Smith County real estate market had 443 homes for sale in May 2024, a 9.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 24 | 31 | +29.2% |
| 3 Bedrooms | 183 | 197 | +7.7% |
| 4 Bedrooms | 159 | 166 | +4.4% |
| 5+ Bedrooms | 36 | 48 | +33.3% |
Summary: The Smith County 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 increased by 29.2%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 51 | -5.6% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Smith County, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 51 homes were sold or pending in Smith County in May 2024, down by 5.6% month-over-month. Of the 4 sold homes, 50% were sold under asking, 50% were sold at asking, and 0% were sold over asking.
Days on Market for Smith County, TX
How long does it take to sell a home in Smith County, TX?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 55 Days | 56 Days | +2.0% |
Summary: Homes in Smith County had an average of 56 days on market in May 2024, up by 2% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Smith County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 51 homes were sold in Smith County; 41% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
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