Is Prospect Hill, 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, Prospect Hill was a Seller's Market.
Housing Prices in Prospect Hill, TX
How much do homes in Prospect Hill, TX cost?
Median Sold Price
$205,999
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Prospect Hill was $205,999 in May 2024, up 58.5% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $50K | $85K | +70.0% |
2 Bedrooms | $115K | $130K | +13.0% |
3 Bedrooms | $148K | $207.9K | +40.5% |
4 Bedrooms | $192K | $226.9K | +18.2% |
5+ Bedrooms | $168K | $295K | +75.6% |
Summary: Prospect Hill housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 70%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 40.5%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 75.6%.
Median Sold Price Compared To Nearby Neighborhoods
Prospect Hill | $130K | $205.9K | +58.5% |
Gardendale | $107.9K | $120.7K | +11.8% |
Woodlawn Lake | $259.5K | $188.7K | -27.3% |
Housing Supply in Prospect Hill, TX
How many homes are available in Prospect Hill, TX?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
44 | 40 | -9.1% |
Summary: The Prospect Hill real estate market had 40 homes for sale in May 2024, a 9.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 3 | +50.0% |
2 Bedrooms | 9 | 9 | 0.0% |
3 Bedrooms | 26 | 21 | -19.2% |
4 Bedrooms | 6 | 5 | -16.7% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Prospect Hill housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 19.2%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
11 | 6 | -45.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Summary: A total of 6 homes were sold or pending in Prospect Hill in May 2024, down by 45.5% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for Prospect Hill, TX
How long does it take to sell a home in Prospect Hill, TX?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
70 Days | 86 Days | +22.2% |
Summary: Homes in Prospect Hill had an average of 86 days on market in May 2024, up by 22.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 6 homes were sold in Prospect Hill; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.