In recent years, the real estate market in Texas has been at its all-time high. However, the average period of closing the deal, from listing to purchasing properties in Texas, is around 35-40 days. With home prices gradually increasing annually, the best time to sell your house in Texas is becoming one of the most asked questions among homeowners.
Even though it looks straightforward, you can still find it challenging to figure out the perfect time to sell your house in Texas. So, when thinking about selling a house, there are many factors to consider. Also, the housing market is unstable; what worked in the past might not work today. Hence, it’s vital to get the right information so that you can get the right offer for your house without wasting any time. Below are the factors to consider when looking for the best time to sell a house in Texas.
Time of the Year
As weird as this may sound, the time of the year can affect how quickly your property will be taken off the market. Large cities in Texas, such as Houston and San Antonio, have been known to experience a rise in sales between March to June, as the median number of days spent on the market is more than ten days earlier than in other months.
While there is no specific reason for this, many believe that the warm weather during this springtime gives potential investors a more homey feel towards the property they want to buy.
Texas, in general, is a hot market for selling houses. The prices of most houses for sale in Texas have increased by over 15% in the last year alone. Economic factors such as inflation and high-income tax have significantly reduced potential buyers’ purchasing power, with many now looking for cheaper options.
The average cost of buying a house in Texas is about $300,000, with much higher prices in metropolitan cities like Dallas. These prices are lower when compared to the other states in the US. As prices of properties are only just gradually growing, it proves beneficial to both investors and house owners wanting to sell
It is a fact that location is one important factor most buyers consider when investing in a new property. Some parts of Texas, such as Dallas, enjoy a relatively stable selling of houses all year round, while smaller towns tend only to get seasonal buyers.
Certain infrastructures also tend to entice different investors. For instance, a family person will probably consider a property in a good school district. Hence, location is one of the selling points that will attract the most potential buyers to want to buy your property.
Every seller should keep an eye out for competition. As many individuals will target spring and summer as the ideal time for listing, it is important to keep an eye on the local trend in your location.
If more individuals are willing to sell at a particular time, the available options might drive down the prices of property at that time and significantly increase the time you would sell your home. It is, therefore, important to wait out when everyone begins to list their homes for sale.
If there is ever the best time to sell, it is when the state is experiencing local economic growth. An increase in jobs and an improvement in the standard of living will drive more individuals to that area that will need a place to live.
There will also be an increase in the dependable income of individuals staying in the area, most of whom might be inclined towards buying a house. With the economic growth, the local property price will also increase, giving the perfect opportunity to sell your house and maximize profit.
Your decision to sell your home in Texas should not always be about what the market dictates; you can also decide based on the needs of you and your family. For example, it is smart to list your house in May or June if you have kids, as it prevents mid-year school change and allows them to use most of the summer to adapt to the new environment before school resumes.
It is also worth noting that closing the deal often takes 30 to 60 days. Hence, it is advisable to list sooner in the spring if you’re trying to avoid a school-related timing issue.
While other factors could boost or reduce your chances of selling your home, timing is the most important thing to consider. Also, seeking help from a professional cannot be overemphasized enough. With careful planning and consideration, you will sell your house at the perfect price in no time.