Is Hempstead, 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, Hempstead was a Seller's Market.
Key Takeaway
Hempstead is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Hempstead, TX
How much do homes in Hempstead, TX cost?
Median Sold Price
$278,500
$164/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Hempstead have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in Hempstead was $278,500 in May 2024, up 3.9% from last year, and the median price per square foot was $164.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $317.5K | $685K | +115.7% |
| 2 Bedrooms | $217.5K | $182.5K | -16.1% |
| 3 Bedrooms | $269.7K | $286.7K | +6.3% |
| 4 Bedrooms | $276.7K | $299.9K | +8.4% |
| 5+ Bedrooms | $230K | $532.4K | +131.5% |
Summary: Hempstead housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 115.7%, 2 bedroom homes decreased by 16.1%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 8.4%, and 5+ bedroom homes increased by 131.5%.
Median Sold Price Compared To Nearby Cities
| Hempstead | $268K | $278.5K | +3.9% |
| Prairie View-Waller | $395K | $389.9K | -1.3% |
Housing Supply in Hempstead, TX
How many homes are available in Hempstead, TX?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 93 | 110 | +18.3% |
Summary: The Hempstead real estate market had 110 homes for sale in May 2024, a 18.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 12 | +71.4% |
| 3 Bedrooms | 53 | 62 | +17.0% |
| 4 Bedrooms | 26 | 29 | +11.5% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Hempstead housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 71.4%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 9 | 10 | +11.1% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Hempstead, you may be able to get a good deal. 60% of homes here sold below asking price last month.
Summary: A total of 10 homes were sold or pending in Hempstead in May 2024, up by 11.1% month-over-month. Of the 10 sold homes, 60% were sold under asking, 40% were sold at asking, and 0% were sold over asking.
Days on Market for Hempstead, TX
How long does it take to sell a home in Hempstead, TX?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 37 Days | 45 Days | +22.0% |
Summary: Homes in Hempstead had an average of 45 days on market in May 2024, up by 22% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Hempstead has remained consistent over time.
Summary: During May 2024, 10 homes were sold in Hempstead; 40% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
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