Before buying or selling a Texas property, it’s important to learn about the housing market. Real estate market trends vary on a state, region, and city basis.
You may think that only experts can understand the lingo.However, Texas home sellers and buyers can get a grasp of the housing market by researching. Learning about your housing market is vital to the home selling or buying process.
Buyers and sellers should work with an experienced realtor to obtain a clear picture of their market. A buyer’s and seller’s agent will provide guidance and support all the way to closing the deal.
2019 Home Value Trends for Top 5 Cities in Texas
Learning about the most popular cities in Texas is a good starting point in your research. The state’s low-cost reputation might make you think all cities have similar home value trends but that’s far from the truth.
Dallas is the second most expensive city in Texas. According to May data from Zillow, the current median home value in this city is $214,400 and the median listing price is $399,900.
In 2018, home values appreciated by 14.2%. Home experts project a rise in home values of 7.5% for 2019.
The state capitol is the most popular city in Texas but it’s the most expensive as well. While trends vary across Austin neighborhoods, overall properties experienced a home value appreciation rate of 6.5% in 2018.
In 2019, real estate experts forecast a home value appreciation of 3.4%. Austin home’s median value and median listing price are $368,600 and $400,000 respectively.
H-town may compete with Dallas when it comes to size but it offers cheaper housing. Houston’s median home value is $186,000, by contrast, the median listing price in this market is $300,000.
Home values for Houston properties experienced a rise of 5.4% in 2018. Experts expect a rise in home value appreciation by 1.9% within 2019.
This city may be an alternative if you want to live close to Dallas without the price tag. The median home value for homes in this market is $197,400, while Fort Worth’s median listing price is $262,990.
Fort Worth homes appreciated 8.5% in 2018. Experts forecast a home value appreciation of 4.3% for 2019.
San Antonio is the cheapest housing option on our list. The median home value for San Antonio properties is $176,100, contrarily $245,000 is the median listing price.
Properties on the San Antonio market appreciated 5.9% in 2018. In 2019, home experts expect properties to rise in value by 2.4%.
The Best Time to Buy a Home in Texas
You might get lucky and find your dream home at the best price no matter the time of the year. However, buying your home at the best time of year can help you secure a great deal. Market demand plays a huge role in home prices.
If you want to secure a great bargain, you should buy a home during months or seasons when buyers are scarce in your housing market. According to data from Redfin, buying a home during the winter is your best bet to get a huge price cut. Texas homes stay on the market an average of 54 days.
The best months to score a great deal on your home purchase are November, December, January, and February. In December, homes stay on the market 56 days on average making it the best month to get a huge price cut on your purchase.
You can time the market by yourself but you should consult with a realtor to get a clear idea about the best time to buy a home in Texas. An expert can help you score the best deal since the right time to buy varies on a city and even neighborhood basis.
The Best Time to Sell a Home in Texas
As a home seller, you want to get the most when selling your Texas home. Believe it or not, timing your listing is vital to boost your home selling profits. Analyzing the average number of days listings stay on the market and median sale prices is a good starting point to figure out the best time to sell your home.
Spring and summer are the best seasons to sell a Texas home. Homes stay on the market during these seasons an average of 35 and 34 days respectively. When you sell your Texas home at this time of the year, you can boost your home selling profits by as much as $15,000 compared to selling in the Winter.
Timing your listing is a complex game that takes in-depth market knowledge. You may figure it out by doing your research, but you should consult with a local real estate agent. An experienced realtor will provide insight into the best time to sell according to the location of your property and the current market conditions.
How to Find the Perfect Texas Real Estate Agent
Home sellers and buyers alike should partner with a local real estate agent to obtain the best outcome. Whether you’re buying or selling, you may get the short end of the stick if you don’t know how to time your market. Sellers and buyers can boost their profits and price cuts by hitting the market at the right time.
Local real estate agents such as Clever Partner Agents know your housing market like the back of their hands and can help you figure out the best time to buy or sell your home.
Buyer’s agents offer on-demand showings to the listings you want to see and even offer savings to lower your home buying costs. Partner Agents have agreed to give you a portion of their commission as a home buyer rebate you can use to buy mortgage points. You may be eligible for a commission rebate of $1,000 for homes over $150,000 or up to 1% for properties valued over $500,000.
When you hire a Partner Agent to sell your home, you’ll hire a top performing realtor in your market at a fraction of the typical realtor fees. Our Partner Agents charge a $3,000 flat fee or 1% if the final sale price is over $350,000. A Clever Partner Agent offers full services which translate into smooth sailing all the way through your home selling process.