Home sellers always want to get the best asking price from potential buyers, but market conditions for Texas homes fluctuate throughout the year. Seasonal trends mean that it’s important for Texas sellers to know how to time the local market in order to sell faster and get more money for their deals.
Texas Housing Market Trends
A Texas home is in hot demand right now, as job growth and a population boom have led to many interested buyers seeking real estate in the Lone Star State. This is a prime time for home sellers, whether they are selling to cash buyers or hopeful homeowners.
Median Sale Price
Right now, the median sale price for single-family homes in Texas is $332,600, up 1.2% year-over-year.
About 12% of Texas homes sold above the list price, and the sale-to-list price is currently at 96.9%. This means that the vast majority of Texas home sellers get a final sale price that is very close to what they originally asked for.
Still, 29.1% of home sales experienced at least one price drop, typically because the current owner wanted to sell quickly.
Number of Homes Sold
Texas home prices are high, and so is the sales volume. At the beginning of 2024, there were 120,379 homes for sale, which is up 6.8% from last year. At the same time, 31,566 properties entered the market, up 8.9% from the same time in 2023.
At the same time, the housing supply is currently at five months, which indicates a healthy market. This is because Texas is experiencing rapid population growth, meaning there are more buyers to snap up the increased real estate available.
When Is the Best Month to Sell a House in Texas?
The best season for home selling is late spring and early summer, between May and June. During this time, 20.9% of homes sell above the list price, compared to just around 11% of homes during winter. Additionally, homes tend to sell faster — between May and June, they spend only 30 days on the market instead of around 60 days from December to January.
Spring and summer are the best seasons for home buying for several reasons. The school year is over, so there’s a high demand to buy a house fast so that you can get settled by the time the school bus arrives again.
Curb appeal, which greatly impacts a home sale, is also at its best at this time. You want your home to look as perfect as possible in order to command a high selling price, and enticing buyers with beautiful flowers can make a big difference.
The Worst Month to Sell a House in Texas
The winter months are very slow for the Texas real estate market, particularly in December. The average time on the market rises by several days, meaning it’s incredibly hard to get a quick sale. Average prices also drop, so you’re not going to get a higher price than you ask for.
There are a few reasons why you’re unlikely to enjoy a fast real estate transaction if you sell during the holiday season. Kids are still in school, the days are shorter, and few people want to check out a house when it gets dark right after they get off work.
Also, the typical prospective home buyer is busy with Thanksgiving and Christmas preparations. They don’t want to attend open houses when they’ve got major headaches like travel and hosting on their minds.
Lastly, while your Texas house is beautiful all year round, selling your house depends on how it looks, and most properties don’t look their best during slushy, dreary weather.
If you can’t wait to sell at the perfect time for the highest price or you need major home improvements before putting your property on the market, cash offers from A-List Properties can be incredibly useful. We buy homes in any condition, no matter where they are.
Real Estate Market in the Top 5 Cities
Every Texas city has as slightly different market, so working with a local real estate agent can be incredibly helpful when selling your house. Full service agents can help you perform market research, and real estate agents are highly familiar with the trends in their area.
Here, we’ll provide a quick overview of some of the hottest Texas markets to kickstart your selling plans.
1. Houston
This trendy city has high property values and an even hotter market. Home prices are up to $310,000, 4.7% higher than last year, and the average days on the market is down three days year-over-year to 47 days.
The annual average for days on the market is 37 days, but most homes have a selling price of 3% lower than the listing price.
2. San Antonio
Right now, the median sale price for San Antonio is $250,000, which is about 3.8% lower than last year. Most homes are sold within 55 days, which is two days more than last year, and sales volume is also 4.7% lower year-over-year.
Despite this, the San Antonio home market has a pretty good sales-to-list ratio of 96.1%, and about 13% of homes are bought for higher than the original price.
3. Corpus Christi
Corpus Christi is a slightly slower market. Homes sell for around $259,000, but that’s only 0.92% less than last year, indicating that the real estate market is still warm.
The typical home will sell for 3.7% less than what it’s listed for and take 58 days to sell, which is the same as last year.
4. Dallas
The Dallas-Fort Worth region is incredibly hot right now, with very encouraging market conditions for sellers. The median sales price in Dallas is currently $386,000, a remarkable 17% higher than last year. Moreover, sales volume has jumped by 25% to 638 homes in the first month of 2024.
While properties spend seven days more on the market than the same time last year, there’s still plenty to cheer about the state of real estate in Dallas.
5. Fort Worth
Nearby Fort Worth is not quite as warm as its bigger neighbor, but it remains highly competitive. The current average price is $324,900, which is only 0.3% lower than last year’s average price. Also, 606 homes were sold, spending about 54 days before being sold.
Amazingly, 18.5% of homes sold above their original price, indicating that plenty of buyers are ready to pay what a property is really worth.
Texas Housing Market Predictions
As mortgage rates are expected to drop soon, 2024 is shaping up to be a good year for home sales. When interest rates are low, people who have been holding onto their homes are more willing to sell their old property and buy a new one, which helps to bring prices up for sellers.
Additionally, demographic trends suggest older homeowners are starting to think about downsizing at the same time that younger buyers are seeking a small starter home. This means that if you’re selling a smaller property, you’ll have multiple types of buyers seeking to snap up your home.
The median rent price has gone down by about $50 year-over-year, which is encouraging because it means that renters can save up for a down payment and are more willing to buy. Texas is one of the few places where it is cheaper to buy than rent, and there are also tax incentives to owning property, further improving selling conditions.
Right now, you’re very likely to get what you asked for, and home prices are steadily rising. They’ll likely be even higher during the summer’s prime buying season.
If you’re not quite ready to sell and can hold out for the May-June buying rush, it’s a great time to invest in some home repairs so that you’re ready for the best month to sell.
Bottom Line
Overall, the best time to sell your house depends on your goals. The period between May and June is the best month for a high price and a fast sale, while winter is generally a slow season where it’s difficult to sell a home fast.
However, if you need to move quickly or have a home that would not sell well no matter how well the market is doing, then a cash offer is a good choice at any time. Instead of contending with residential potential buyers, you’ll be working directly with a cash buyer professional, who will give you a good price based on market conditions and the state of the property.
A-List Properties is the best option for those needing to quickly sell a house in Texas. We’re a BBB-accredited cash buyer and operate throughout the state, providing fair deals and a no-obligation cash offer.
Additionally, you don’t need to perform any repairs or cleaning when you work with us. We’ll take care of all these matters after you sell your home. You’re guaranteed an easy and seamless selling process that can be completed in less than two weeks.
We’ve helped homeowners across Texas quickly offload an unwanted, unsellable property, and we’re happy to assist our fellow Texans with all their selling needs.
If you’re ready to sell your house in Texas, call or text us at (972) 526-7042 or use our online contact form to share your property address and contact information. We’ll get back to you quickly with a fair, no-obligation cash offer — all without any real estate commission fees or hidden costs.
Zach Shelley
Zach Shelley is a seasoned real estate investor with a diverse network spanning across the nation. As the founder of his own real estate venture, Zach is committed to offering innovative solutions to homeowners facing various real estate challenges.. Through his dedication and strategic approach, Zach continues to make a significant impact in the real estate industry, providing homeowners with alternative pathways to navigate their property transactions.
