$5,795 Closing Credit*
$488,000
3,298 SqFt
5 Beds
•2 Full Baths, 1 Partial
Amy Kershner, Listing Office: RE/MAX Space Center
Is El Lago, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since Last Month
Last month, El Lago was a Neutral Market.
Key Takeaway
El Lago is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in El Lago, TX
How much do homes in El Lago, TX cost?
Median Sold Price
$287,012
$137/sqft
Based on all homes sold in October 2024.
Difference Since Last Month
-$77,988(-21.4%)
Key Takeaway
Homes in El Lago have sold for 21.4% less than they did a month ago.
Summary: The median home sold price in El Lago was $287,012 in October 2024, down 21.4% from last month, and the median price per square foot was $137.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $108.1K | - | N/A |
| 2 Bedrooms | - | - | N/A |
| 3 Bedrooms | $400K | $287K | -28.2% |
| 4 Bedrooms | $291.5K | $324.3K | +11.3% |
| 5+ Bedrooms | - | $2.8M | N/A |
Summary: El Lago housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes decreased by 28.2%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes did not change.
Housing Supply in El Lago, TX
How many homes are available in El Lago, TX?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 33 | 31 | -6.1% |
Summary: The El Lago real estate market had 31 homes for sale in October 2024, a 6.1% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 2 | -33.3% |
| 2 Bedrooms | 4 | 5 | +25.0% |
| 3 Bedrooms | 7 | 5 | -28.6% |
| 4 Bedrooms | 12 | 12 | 0.0% |
| 5+ Bedrooms | 7 | 7 | 0.0% |
Summary: The El Lago housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 33.3%, 2 bedroom homes increased by 25%, 3 bedroom homes decreased by 28.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 7 | +40.0% |
Asking Price vs. Sold Price
5 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 El Lago, you may be able to get a good deal. 71.4% of homes here sold below asking price last month.
Summary: A total of 7 homes were sold or pending in El Lago in October 2024, up by 40.0% month-over-month. Of the 7 sold homes, 71% were sold under asking, 29% were sold at asking, and 0% were sold over asking.
Days on Market for El Lago, TX
How long does it take to sell a home in El Lago, TX?
Average Sale Time
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 44 Days | 48 Days | +8.1% |
Summary: Homes in El Lago had an average of 48 days on market in Oct 2024, up by 8.1% compared to last month.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in El Lago has remained consistent over time.
Summary: During October 2024, 7 homes were sold in El Lago; 29% of homes were sold within 30 days, 57% of homes were sold within 30 to 90 days, and 14% of homes were sold over 90 days.
Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”.