$2,351 Closing Credit*
$198,000
1,371 SqFt
4 Beds
•2 Full Baths
Layla Ng, Listing Office: HomeSmart
Is Southwest, 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, Southwest was a Seller's Market.
Key Takeaway
Southwest is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Southwest, TX
How much do homes in Southwest, TX cost?
Median Sold Price
$285,786
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$12,918(+4.7%)
Key Takeaway
Homes in Southwest have sold for 4.7% more than they did a year ago.
Summary: The median home sold price in Southwest was $285,786 in October 2024, up 4.7% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $111.3K | $105K | -5.7% |
| 2 Bedrooms | $149.9K | $163.5K | +9.0% |
| 3 Bedrooms | $293.4K | $294.5K | 0.4% |
| 4 Bedrooms | $360K | $380.1K | +5.6% |
| 5+ Bedrooms | $848K | $880K | +3.8% |
Summary: Southwest housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.7%, 2 bedroom homes increased by 9%, 3 bedroom homes increased by 0.4%, 4 bedroom homes increased by 5.6%, and 5+ bedroom homes increased by 3.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Southwest | $272.8K | $285.7K | +4.7% |
| Willow Meadows / Willowbend Area | $357.5K | $355K | -0.7% |
| Willowbend | $435K | $386.5K | -11.1% |
Housing Supply in Southwest, TX
How many homes are available in Southwest, TX?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 652 | 814 | +24.8% |
Summary: The Southwest real estate market had 814 homes for sale in October 2024, a 24.8% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 48 | 60 | +25.0% |
| 2 Bedrooms | 98 | 131 | +33.7% |
| 3 Bedrooms | 317 | 388 | +22.4% |
| 4 Bedrooms | 160 | 201 | +25.6% |
| 5+ Bedrooms | 29 | 34 | +17.2% |
Summary: The Southwest housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 33.7%, 3 bedroom homes increased by 22.4%, 4 bedroom homes increased by 25.6%, and 5+ bedroom homes increased by 17.2%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 108 | 113 | +4.6% |
Asking Price vs. Sold Price
77 Homes Were Sold
Under Asking
19 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, you may be able to get a good deal. 68.1% of homes here sold below asking price last month.
Summary: A total of 113 homes were sold or pending in Southwest in October 2024, up by 4.6% month-over-month. Of the 113 sold homes, 68% were sold under asking, 17% were sold at asking, and 15% were sold over asking.
Days on Market for Southwest, TX
How long does it take to sell a home in Southwest, TX?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 35 Days | +10.6% |
Summary: Homes in Southwest had an average of 35 days on market in Oct 2024, up by 10.6% compared to last year.
Breakdown of Home Sale Times
66 Homes Were Sold
Under 30 Days
39 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southwest are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 113 homes were sold in Southwest; 58% of homes were sold within 30 days, 35% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
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