$9,738 Closing Credit*
$820,000
2,261 SqFt
4 Beds
•4 Full Baths, 1 Partial
Michelle Allen, Listing Office: Compass RE Texas, LLC
Is MLK, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, MLK was a Seller's Market.
Key Takeaway
MLK is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in MLK, TX
How much do homes in MLK, TX cost?
Median Sold Price
$521,500
$427/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$93,500(-15.2%)
Key Takeaway
Homes in MLK have sold for 15.2% less than they did a year ago.
Summary: The median home sold price in MLK was $521,500 in October 2024, down 15.2% from last year, and the median price per square foot was $427.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $335.2K | $325K | -3.0% |
| 2 Bedrooms | $540K | $492K | -8.9% |
| 3 Bedrooms | $655K | $617.5K | -5.7% |
| 4 Bedrooms | $860K | $806K | -6.3% |
| 5+ Bedrooms | $1.4M | $467.5K | -67.8% |
Summary: MLK housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3%, 2 bedroom homes decreased by 8.9%, 3 bedroom homes decreased by 5.7%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes decreased by 67.8%.
Housing Supply in MLK, TX
How many homes are available in MLK, TX?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 56 | 62 | +10.7% |
Summary: The MLK real estate market had 62 homes for sale in October 2024, a 10.7% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 15 | 20 | +33.3% |
| 3 Bedrooms | 29 | 30 | +3.4% |
| 4 Bedrooms | 8 | 8 | 0.0% |
| 5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The MLK housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 3.4%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 5 | 4 | -20.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in MLK, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in MLK in October 2024, down by 20.0% month-over-month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for MLK, TX
How long does it take to sell a home in MLK, TX?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 84 Days | 83 Days | -2.2% |
Summary: Homes in MLK had an average of 83 days on market in Oct 2024, down by 2.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in MLK are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 4 homes were sold in MLK; 50% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.
Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS or Unlock MLS®). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS, Unlock MLS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data maintained by the Board, ACTRIS or Unlock MLS may not reflect all real estate activity in the market. Prices displayed on all Sold listings are the Last Known Listing Price and may not be the actual selling price. 
Listings courtesy of Unlock MLS as distributed by MLS GRID.