$2,375 Closing Credit*
$200,000
1,348 SqFt
3 Beds
•2 Full Baths
Rainela Marcano, Listing Office: Keller Williams Memorial
Is Southwest, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$282,302
$163/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$7,302(+2.7%)
Key Takeaway
Homes in Southwest have sold for 2.7% more than they did a year ago.
Summary: The median home sold price in Southwest was $282,302 in November 2024, up 2.7% from last year, and the median price per square foot was $163.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $110K | $105K | -4.5% |
| 2 Bedrooms | $152K | $160K | +5.3% |
| 3 Bedrooms | $295.6K | $289K | -2.2% |
| 4 Bedrooms | $376.2K | $380.5K | +1.1% |
| 5+ Bedrooms | $860K | $839.5K | -2.4% |
Summary: Southwest housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.5%, 2 bedroom homes increased by 5.3%, 3 bedroom homes decreased by 2.2%, 4 bedroom homes increased by 1.1%, and 5+ bedroom homes decreased by 2.4%.
Median Sold Price Compared To Nearby Neighborhoods
| Willow Meadows | $430K | $486.5K | +13.1% |
| Southwest | $275K | $282.3K | +2.7% |
| Willow Meadows / Willowbend Area | $357.5K | $350K | -2.1% |
Housing Supply in Southwest, TX
How many homes are available in Southwest, TX?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 701 | 794 | +13.3% |
Summary: The Southwest real estate market had 794 homes for sale in November 2024, a 13.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 48 | 56 | +16.7% |
| 2 Bedrooms | 111 | 128 | +15.3% |
| 3 Bedrooms | 333 | 367 | +10.2% |
| 4 Bedrooms | 179 | 212 | +18.4% |
| 5+ Bedrooms | 30 | 31 | +3.3% |
Summary: The Southwest housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes increased by 15.3%, 3 bedroom homes increased by 10.2%, 4 bedroom homes increased by 18.4%, and 5+ bedroom homes increased by 3.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 124 | 97 | -21.8% |
Asking Price vs. Sold Price
63 Homes Were Sold
Under Asking
18 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southwest, you may be able to get a good deal. 64.9% of homes here sold below asking price last month.
Summary: A total of 97 homes were sold or pending in Southwest in November 2024, down by 21.8% month-over-month. Of the 97 sold homes, 65% were sold under asking, 19% were sold at asking, and 16% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 32 Days | 42 Days | +31.2% |
Summary: Homes in Southwest had an average of 42 days on market in Nov 2024, up by 31.2% compared to last year.
Breakdown of Home Sale Times
57 Homes Were Sold
Under 30 Days
30 Homes Were Sold
In 30 - 90 Days
10 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 November 2024, 97 homes were sold in Southwest; 59% of homes were sold within 30 days, 31% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
Disclaimer: The MLS data is provided exclusively to Participants or Subscribers for display on their website solely for consumers’ personal, non-commercial use, that the MLS data may not be used for any purpose other than to display prospective properties consumers may be interested in purchasing or leasing. Information contained on the computer print-outs of the Multiple Listing Service (MLS) of the HOUSTON REALTORS® INFORMATION SERVICE (HRIS) is furnished by MLS Participants for dissemination to other MLS Participants, for their exclusive use, and should not be relied upon by Buyer/Tenant or any other person. There is no express or implied warranty by HRIS or MLS as to the accuracy of such information, which should be independently verified by Buyer/Tenant or such other person. MLS does not verify the information and disclaims any responsibility for its accuracy. Any estimate of value was prepared using automated processes and should not be considered a comparative market analysis (CMA) or appraisal. You may contact us to provide additional information and analysis for a more accurate estimate of the property's value. Digital images modified or enhanced to alter real property characteristics contain a visible and legible watermark across the bottom of the image “Image does not represent actual property as is”.