Is South Main, TX a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Main is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, South Main was a Seller's Market.

Key Takeaway

South Main is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in South Main, TX

How much do homes in South Main, TX cost?

Median Sold Price

$309,900

$154/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$37,900(+13.9%)

Key Takeaway

Homes in South Main have sold for 13.9% more than they did a year ago.

Summary: The median home sold price in South Main was $309,900 in October 2024, up 13.9% from last year, and the median price per square foot was $154.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $64.9K$60.7K
-6.5%
2 $79K$70K
-11.4%
3 $340K$330K
-2.9%
4 $383.7K$457K
+19.1%
5+ --
N/A

Summary: South Main housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.5%, 2 bedroom homes decreased by 11.4%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 19.1%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Neighborhoods

South Main
+13.9%
Braeswood
+10.6%
Southwest
+4.7%
Astrodome Area
+2.2%
Willow Meadows / Willowbend Area
-0.7%

Housing Supply in South Main, TX

How many homes are available in South Main, TX?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
3650+38.9%

Summary: The South Main real estate market had 50 homes for sale in October 2024, a 38.9% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 88
0.0%
2 715
+114.3%
3 2127
+28.6%
4 00
0.0%
5+ 00
0.0%

Summary: The South Main 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 114.3%, 3 bedroom homes increased by 28.6%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
67+16.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Main, 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 South Main in October 2024, up by 16.7% 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 South Main, TX

How long does it take to sell a home in South Main, TX?

Average Sale Time

Oct 2023Oct 2024CHANGE
70 Days40 Days-42.3%

Summary: Homes in South Main had an average of 40 days on market in Oct 2024, down by 42.3% compared to last year.

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

Breakdown of Home Sale Times

Key Takeaway

Avg time on Rocket Homes in South Main has remained consistent over time.

Summary: During October 2024, 7 homes were sold in South Main; 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 23 Days Ago

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