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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing South Park is a seller's market

Buyer's
Market

Difference Since December 2023

Since last year, South Park has remained a Seller's Market.

Key Takeaway

South Park is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in South Park, TX

How much do homes in South Park, TX cost?

Median Sold Price

$170,000

$130/sqft

Based on all homes sold in the last 12 months.

Difference Since December 2023

-$8,000(-4.5%)

Key Takeaway

Homes in South Park have sold for 4.5% less than they did a year ago.

Summary: The median home sold price in South Park was $170,000 in December 2024, down 4.5% from last year, and the median price per square foot was $130.

Median Sold Price By Bedroom Count

# BEDSDec 2023Dec 2024CHANGE
1 -$125K
N/A
2 $110K$105K
-4.5%
3 $170K$149.5K
-12.1%
4 $215K$211.5K
-1.6%
5+ $389.5K$461K
+18.4%

Summary: South Park housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.5%, 3 bedroom homes decreased by 12.1%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 18.4%.

Median Sold Price Compared To Nearby Neighborhoods

Sunnyside
-0.8%
Southeast Houston
-3.0%
Greater OST / South Union
-3.8%
South Park
-4.5%
Southcrest
-12.8%

Housing Supply in South Park, TX

How many homes are available in South Park, TX?

Number of Homes For Sale

Nov 2024Dec 2024CHANGE
102116+13.7%

Summary: The South Park real estate market had 116 homes for sale in December 2024, a 13.7% increase compared to November 2024.

Homes For Sale By Bedroom Count

# BEDSNov 2024Dec 2024CHANGE
1 00
0.0%
2 87
-12.5%
3 5768
+19.3%
4 3234
+6.3%
5+ 57
+40.0%

Summary: The South Park housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 6.3%, and 5+ bedroom homes increased by 40%.

Number of Homes Sold

Nov 2024Dec 2024CHANGE
1021+110.0%

Asking Price vs. Sold Price

12 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in South Park, you may be able to get a good deal. 57.1% of homes here sold below asking price last month.

Summary: A total of 21 homes were sold or pending in South Park in December 2024, up by 110.0% month-over-month. Of the 21 sold homes, 57% were sold under asking, 33% were sold at asking, and 10% were sold over asking.

Days on Market for South Park, TX

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

Average Sale Time

Dec 2023Dec 2024CHANGE
35 Days66 Days+90.3%

Summary: Homes in South Park had an average of 66 days on market in Dec 2024, up by 90.3% compared to last year.

Breakdown of Home Sale Times

8 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

8 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in South Park are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 21 homes were sold in South Park; 38% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 38% 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 2 Days Ago

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