If you have made the decision to move out of Houston, Texas, do not beat yourself up; work with a trusted real estate company instead. To get desirable results, sell your home to Ohana Legacy Properties, LLC. We will buy your home at the highest price you can’t find anywhere else so you can go ahead to live the best life you deserve.
That said, we have come up with this article to give an update on the Houston Real Estate Market. This will equip you with information on how the real estate market is in the area and the current trend. Let’s explore more.
A Houston Real Estate Market Update
The Houston housing market is performing admirably well. In fact, house sales hit record highs in 2019. However, in October 2020, it saw a decline of 10.25% when it came to the number of single-family homes sold compared to those sold in October of 2019. While the fall season is traditionally slower, the COVID-19 pandemic contributed to the drop even more, leading to a total of just 5,873 house sales in 2020.
However, examining the trend just like it did in 2020 will give us a better insight into the housing markets in Houston. The price dipped five times, and that tells us that the situation there was more than just coincidental.
Inventory And Prices Of Houses Remain High
While there was a drop in sales in 2020, there wasn’t a fall in the prices, and it stayed relatively the same throughout. It would have taken about three and a half months to sell off the unsold houses completely. It is still above the national average, so you know that the area is much better at supply houses.
Overall, the area has maintained its high prices, and it reached a state where the price for the average single-family home rose to $271,648. That was an increase of nearly 4% from the price in 2019. Furthermore, the median price of the houses increased to $205,000.
So Are You To Sell?
Therefore, it is safe to say that the chance of selling your house for an acceptable price is much lower in the late fall and early winter. That is, the best time to sell will be in the prime listing seasons, i.e., spring and summer. But to be on the safe side, stretch it a few months because that is when the sale will likely be at its peak.
However, at Ohana Legacy Properties, LLC, we are ready to buy your house irrespective of the season or period at an attractive price you will love. We are a trusted real estate company and will buy your house at your own term. We are indeed the right real estate company that perfectly suits your needs.
