Is Northwest, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Northwest has remained a Seller's Market.
Key Takeaway
Northwest is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northwest, TX
How much do homes in Northwest, TX cost?
Median Sold Price
$751,261
$326/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Northwest have sold for 1.1% more than they did a year ago.
Summary: The median home sold price in Northwest was $751,261 in May 2024, up 1.1% from last year, and the median price per square foot was $326.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $263.5K | -5.9% |
| 2 Bedrooms | $385K | $384K | -0.3% |
| 3 Bedrooms | $649.4K | $602.7K | -7.2% |
| 4 Bedrooms | $931.5K | $920K | -1.2% |
| 5+ Bedrooms | $1.1M | $1.2M | +5.0% |
Summary: Northwest housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 5.9%, 2 bedroom homes decreased by 0.3%, 3 bedroom homes decreased by 7.2%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes increased by 5%.
Median Sold Price Compared To Nearby Neighborhoods
| Jester | $989.9K | $1.0M | +2.5% |
| Northwest | $742.8K | $751.2K | +1.1% |
Housing Supply in Northwest, TX
How many homes are available in Northwest, TX?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 451 | 546 | +21.1% |
Summary: The Northwest real estate market had 546 homes for sale in May 2024, a 21.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 26 | +73.3% |
| 2 Bedrooms | 80 | 101 | +26.3% |
| 3 Bedrooms | 129 | 159 | +23.3% |
| 4 Bedrooms | 163 | 197 | +20.9% |
| 5+ Bedrooms | 64 | 63 | -1.6% |
Summary: The Northwest housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 73.3%, 2 bedroom homes increased by 26.3%, 3 bedroom homes increased by 23.3%, 4 bedroom homes increased by 20.9%, and 5+ bedroom homes decreased by 1.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 87 | 96 | +10.3% |
Asking Price vs. Sold Price
55 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northwest, you may be able to get a good deal. 57.3% of homes here sold below asking price last month.
Summary: A total of 96 homes were sold or pending in Northwest in May 2024, up by 10.3% month-over-month. Of the 96 sold homes, 57% were sold under asking, 11% were sold at asking, and 31% were sold over asking.
Days on Market for Northwest, TX
How long does it take to sell a home in Northwest, TX?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 27 Days | -19.1% |
Summary: Homes in Northwest had an average of 27 days on market in May 2024, down by 19.1% compared to last year.
Breakdown of Home Sale Times
70 Homes Were Sold
Under 30 Days
20 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northwest are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 96 homes were sold in Northwest; 73% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
Based on information from the Austin Board of REALTORS® (alternatively, from ACTRIS or Unlock MLS®). All information provided is deemed reliable but is not guaranteed and should be independently verified. The Austin Board of REALTORS®, ACTRIS, Unlock MLS and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data maintained by the Board, ACTRIS or Unlock MLS may not reflect all real estate activity in the market. Prices displayed on all Sold listings are the Last Known Listing Price and may not be the actual selling price. 
Listings courtesy of Unlock MLS as distributed by MLS GRID.
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