Is Prospect Hill, TX a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Prospect Hill was a Seller's Market.
Key Takeaway
Prospect Hill is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Prospect Hill, TX
How much do homes in Prospect Hill, TX cost?
Median Sold Price
$205,999
$149/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Prospect Hill have sold for 58.5% more than they did a year ago.
Summary: The median home sold price in Prospect Hill was $205,999 in May 2024, up 58.5% from last year, and the median price per square foot was $149.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $50K | $85K | +70.0% |
| 2 Bedrooms | $115K | $130K | +13.0% |
| 3 Bedrooms | $148K | $207.9K | +40.5% |
| 4 Bedrooms | $192K | $226.9K | +18.2% |
| 5+ Bedrooms | $168K | $295K | +75.6% |
Summary: Prospect Hill housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 70%, 2 bedroom homes increased by 13%, 3 bedroom homes increased by 40.5%, 4 bedroom homes increased by 18.2%, and 5+ bedroom homes increased by 75.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Prospect Hill | $130K | $205.9K | +58.5% |
| Gardendale | $107.9K | $120.7K | +11.8% |
| Woodlawn Lake | $259.5K | $188.7K | -27.3% |
Housing Supply in Prospect Hill, TX
How many homes are available in Prospect Hill, TX?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 44 | 40 | -9.1% |
Summary: The Prospect Hill real estate market had 40 homes for sale in May 2024, a 9.1% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 3 | +50.0% |
| 2 Bedrooms | 9 | 9 | 0.0% |
| 3 Bedrooms | 26 | 21 | -19.2% |
| 4 Bedrooms | 6 | 5 | -16.7% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Prospect Hill housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 19.2%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 11 | 6 | -45.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Prospect Hill, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 6 homes were sold or pending in Prospect Hill in May 2024, down by 45.5% month-over-month. Of the 6 sold homes, 67% were sold under asking, 17% were sold at asking, and 17% were sold over asking.
Days on Market for Prospect Hill, TX
How long does it take to sell a home in Prospect Hill, TX?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 70 Days | 86 Days | +22.2% |
Summary: Homes in Prospect Hill had an average of 86 days on market in May 2024, up by 22.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Prospect Hill are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Prospect Hill; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
Disclaimer: The data relating to real estate for sale on this web site comes in part from the Broker Reciprocity Program of the San Antonio Board of Realtors. Real estate listings held by brokerage firms are indicated by detailed information about them such as the name of the listing firms. © 2024 San Antonio Board of Realtors®. All Rights Reserved. 
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”.