Are you thinking of selling your home in Houston? If you want to capitalize on the strong citywide seller’s market, read on for our breakdown of the best time to list and sell your home in Houston.
Timing the market is a strategy used by home sellers to exploit seasonal variations in housing supply and buyer interest. Unfortunately, successfully timing the Houston property market requires long-term sales expertise, access to historic listing data, and experience in the local market. Partnering with a top-rated, full-service real estate agent is your best bet if you want to successfully time the listing and sale of a Houston home.
If you plan on having an active role during the selling process, it’s best to do some pre-listing research on the local property market. Here’s what you need to know about the best time to sell in Houston, Texas.
Best Time to Sell in Houston
As with most states across the United States, spring and summer have proven to be the most profitable seasons to sell a home in Houston. According to 2018 market data, Houston homes that were listed in April recorded a 7.5% increase from average sales prices.
Houston has seen a staggering year-to-year increase in home prices, with a record-breaking number of homes sold and median sales prices rising by 7% in 2018. Housing demand is currently playing a major role in increasing Houston sales prices. Growing buyer demand continues to outstrip new housing construction, placing upward pressure on property prices and intensifying competition between prospective homeowners.
Although a moderate slowdown in growth is expected through late 2019, the Houston seller’s market remains resilient to pullback or cooling, with a strong local economy and a thriving high-income buyer population.
Key Factors That Help Houston Homes Sell Faster
As the fourth largest city in the United States, Houston boasts a substantial number of lush parks and outdoor spaces. If your home is close to parkland, hiking trails or cycling tracks, be sure to include it in your listing description. Homes that are in close proximity to well-kept green spaces will attract a buyer’s attention, particularly if they have children or pets.
Over the past two years, Houston’s job market has grown at a breakneck pace, adding 73,300 new jobs in 2018 alone. The influx of new jobs has intensified buyer competition, with prospective homeowners frequently starting bidding wars for properties located close to Houston’s public transport network. Since the expansion of Houston’s high-income job market, demand for homes in close proximity to the central business district has also soared.
Three Tips for Maximizing Your Profits When Selling a Home in Houston
1. Consider Your Specific Market
When selling a Houston home, setting an accurate listing price can be the difference between a fast-tracked, high-value sale or a long and mediocre slog. If you price your home significantly above local market expectations, you’re going to have a hard time finding a buyer.
In order to gauge what is and isn’t a competitive listing price, you will need to acquire detailed sales information and market data at the neighborhood level. Ask your real estate agent to conduct a comparative market analysis (CMA) to get a better picture of local listing prices, sale numbers, and days on the market.
Learn More: Understanding a Comparative Market Analysis
2. Make Impactful Repairs and Renovations
Small yet meaningful pre-listing home improvement projects can have a major impact on the speed at which your home sells and its final sale price. Buyers will show more interest in your home if they know they don’t have to complete any renovations or repairs following the sale.
If you are not sure where to begin with your home improvements, your best bet is to consult with an interior designer and professional landscaper. If you’re still short of inspiration, why not start off with one or more of these value-adding repairs and renovations:
- Landscape your front yard and trim any dead or overgrown shrubbery.
- Repair and repaint your interior walls.
- Have your carpets professionally cleaned and/or ensure hardwood floors are polished and treated.
- Remove any traces of mold in the bathroom and garage.
Before you get started on any repairs or renovations, be sure to consider whether the costs will outweigh the projected boost in your property value. If your home requires more extensive, value-negative work, consider adjusting your listing price to save yourself the time and cost of repairing it yourself.
3. Find a Great Real Estate Agent
Finding a real estate agent who can help sell your home for a reasonable price can be a daunting task. With the average Houston listing commission costing you 6% of the final sale price, more and more sellers are attempting an agent-free sale. However, without experience in the Houston property market, the for sale by owner process can be just as costly. If you’re struggling to wrap your head around the intricacies of selling a home, reach out and connect with a Houston-based Clever Partner Agent.
The Clever Partner Network is made up of over 3,000 reliable real estate agents from major real estate companies and regional brokerages (e.g. Keller Williams, RE/MAX, Century 21). Clever Partner Agents are with you through every step of the sale process, from assisting with the initial listing to advising you during closing negotiations. Furthermore, Clever clients are eligible for considerably discounted listing rates, with Partner Agents offering a flat $3,000 listing fee, or a listing commission of 1% if your property sells for more than $350,000.
Fill out our online form or call us on 1-833-2-CLEVER if you’re interested in selling through Clever. Once we have your details, we’ll be in touch to arrange a free sales consultation and set you up with one of our Houston-based Clever Partner Agents.