Spring, TX Real Estate & Homes For Sale

Market Dynamics

• Median Sale Price: As of August 2023, the median home sale price in Spring was $271K, showing a decline of 8.3% compared to the same period last year.
• Price Per Square Foot: Currently, the median sale price per square foot stands at $152, a slight increase of 0.7% year-over-year.
• Sale Duration: On average, homes in Spring are selling within 17 days, a marginal increase from the 16-day average recorded in the previous year.
• Volume of Sales: A total of 175 homes were sold in Spring during August 2023, slightly fewer than the 188 homes sold in August of the prior year.

Competitiveness of Spring's Housing Market

The real estate market in Spring is very competitive. Homes typically receive multiple offers, some even with waived contingencies. While the average home sells for about 1% below the list price, it usually goes pending in around 19 days. In the case of high-demand or "hot" homes, they can sell for approximately 1% above the list price and go pending in as few as 6 days.

Migration and Relocation Trends in Spring

Between June and August 2023, 25% of Spring homebuyers were looking to move out of the area, while the remaining 75% intended to stay within the metropolitan region.

• Where Are People Moving to Spring From: Nationally, 2% of homebuyers expressed interest in relocating to Spring from other metropolitan areas. The most significant interest came from New York, followed by Los Angeles and Washington.
• Where Are Spring Residents Relocating To: A substantial 75% of Spring residents who were in the market for a new home aimed to stay within the Spring metropolitan area. For those considering a move outside the region, Phoenix was the most popular destination, trailed by San Antonio and Austin.

Living in Spring

The housing market in Spring presents a highly competitive landscape, making it a challenging yet rewarding environment for buyers and sellers alike. Despite the slight dip in median sale prices, the area remains highly sought after, with homes selling quickly and receiving multiple offers.

The trends indicate that Spring is a largely stable community, with a significant portion of the population choosing to remain within the metropolitan area. Whether you're a potential buyer or an existing resident considering your options, Spring offers a dynamic and highly competitive real estate market that demands attention and strategic planning.

From its rapid sale durations to its magnet-like appeal for homebuyers from prominent metros like New York and Los Angeles, Spring stands as a compelling real estate market that offers a mix of challenges and opportunities for those looking to make a move.