Houston has 3.7 months of single-family houses for sale, which is the lowest level in the previous 14 years (since December 1999) and is 23 percent lower than the national average.
It’s a great moment to sell a house in Houston. In case you’re looking for a reputable real estate broker in Houston TX, contact William T.J. Realty.
Hot property markets don’t endure forever, which is why now is an excellent time to sell your Houston home:
1. The cost of living is increasing
Last year, the average price of a single-family house in Houston jumped 11.3 percent to $243,797, a new high for the city. The average price of Houston townhouses jumped by 20.7 percent, while sales increased by the same amount.
2. For sellers, the combination of limited inventory and high demand is ideal
Single-family home sales in Houston grew 11.4 percent year over year, marking the 19th consecutive monthly rise in the Houston region.
Back-up contracts, bidding battles, and properties selling for substantially more than the asking price are all resurfacing.
3. Houston is attracting an increasing number of visitors
According to Forbes magazine, 1,400 individuals relocate to Houston every day. Demand is being driven by a large number of relocation purchasers from huge oil corporations like Exxon, Chevron, Shell, and Halliburton, as well as present Houstonians.
4. Interest rates have remained historically low
Low loan rates (now about 3.5%) are allowing Houston residents to get more home for their money. A $300,000 30-year fixed mortgage costs less than $1400 per month in principal and interest.
5. There should be more houses on the market (increasing supply)
Builders are buying lots in a frenzy, boosting supply. In the spring, more homeowners are likely to advertise their properties for sale.
6. Selling your property today has a low risk
You’re in an excellent position to test the market and sell your house, given the low inventory and strong buyer demand (as long as you don’t substantially overprice your home).
A reliable commercial real estate broker like William T.J. Realty can help you with the selling of your Houston home. Get in touch with us now.