What is the best time to sell a house in Texas? This is a question Texas real estate agents get a lot.
Houston real estate has been on the climb since hurricane Harvey of 2017. After the market took a hit, the city showed it's trademark resilience to get back to where they are today.
While data on the housing market varies from year to year, there is a pretty good benchmark to go off of when deciding to list your house.
Best Time to Sell a House in Texas
The Texas market is hot. Those who have been renting since they lost their homes to the devastating hurricane are now back on the market searching for their new home. Investors scooped up the damaged real estate and have boosted prices to sell for more than $7000 compared to last year.
Best Time to Sell for a Profit
Consistent with much of the nation, the stats show the best time to sell your house for a profit is in June. June saw an average of 7.83% higher prices than the annual average. The next highest profit is found in May for a 3.7% increase over the annual average.
Listing in April for a June sale is perfect for many homeowners. It's that typical Spring cleaning season and allows you to get the repairs managed before the heat of the summer scares you away.
The worst time to sell if you want a profit is January. While most people celebrate new beginnings around that time, next to no one wants to look for a home during the holiday season. The stats for January come in at a -7.77% lower prices than the annual average. That's quite a drop from the nearly 8% of June!
Best Time to Sell Fast
On a timeline to sell quickly? If you're looking to sell your home fast in Texas, the month to aim for is July. You'll want to list in May to reach that goal of closing in July.
Homes that close in July close an average of 7.3 days sooner than the yearly average. These numbers may be due to the proximity to the start of the school year. Homes in June and August aren't far behind at five and six days faster than the average respectively.
If time is a factor, January is the worst month to sell your home. Homes sold in January take an average of 10 days longer than the yearly average.
Best time to Sell Fast for a Profit
If you want to find that sweet spot for selling quickly for a profit, then you'll want to list in April and sell in June. June saw the highest profits and third fastest month in the year to close on your house.
The month to stay away from is very clearly January. Avoid listing your home toward the end of the year (October, November, and December) if you can avoid it. If you must list at the end of the year, plan to close in December. While it has the third slowest closing time, it has the third highest profits at 2.92% higher than the annual average
Tips for Selling Your Home in Texas
1. Don't Overprice
It's tempting to see these numbers and overprice your house in hopes of raking in the dough. Don't do that! Do a complete comparative marketing analysis to make sure the home is listed at a good price.
Overpricing can jack up these averages and change your home listing time from a few weeks to a few months or even longer.
2. Make Repairs, But Don't Go Overboard
Making repairs such as fixing the roof, repairing the siding or cracked foundation is a good idea when you are selling. These repairs are big enough to boost up your selling price and make the house more appealing to buyers.
Don't spend too much time on things that don't put money in your pocket, though. Projects like adding a deck, putting in wood flooring, or adding solar panels, don't always add value.
When in doubt, talk to your real estate agent about which repairs to make.
3. Find the Right Real Estate Agent
Selling your home in Texas is about more than timing the market. Hiring a real estate agent who knows the area well and is an expert in their field can help you beat the market averages any day of the year.
The opposite is true as well. Make sure your real estate agent is willing to go to bat for you and do the work required by interviewing them.
If saving money is important to you, hire a discount real estate agent like those at Clever. Clever agents are local experts and full-service, which means you can expect nothing less than high-quality marketing, pricing, and service from them.
Timing the housing market can be tough, especially if you want to sell quickly for top dollar. By listing in April to make the most money, May to sell the fastest, or June to meet in the middle-- you've got a pretty safe bet of meeting your goals.