The real estate market has always been volatile, even more so with the current global situation. That’s why, as a homeowner, you need to be strategic when you sell if you’re aiming for the best possible price on your home. There will always be lowball offers and difficult buyers, but if real estate trends in Houston, TX are in your favor, you won’t have to settle for below-market offers.
Houston’s real estate market has seen a steady increase in buyers within the last few years. And thanks to several factors that have affected the real estate market, there are now plenty of buyers looking to own property in Houston. If you’ve been considering selling for the best price, here are a few reasons why now is the best time to do it.
Houston Is a Seller’s Market
Houston has been a good place for real estate investments even before the pandemic began. Since 2011, homes in the Greater Houston area have skyrocketed by almost 92%, with the value increasing 18.9% since last year. Based on real estate trends in Houston and several other major cities in Texas, the prices are expected to rise within the next 12 months.
For buyers, this means if they want to buy a house and see its value increase, now is the best time to do it as home prices aren’t likely to decrease. However, with many entering the market in search of properties, the demand itself creates a spike and can result in high prices and quick sales, leading to a competitive market – one that benefits the seller.
In real estate, there are two types of markets: a buyer’s market and a seller’s market. During a buyer’s market, the demand is low and there are more houses than there are buyers. This gives the buyer the power to choose properties and negotiate with lower prices. But during a seller’s market like what Houston’s seeing now, there are more buyers and less properties, so it can be a competitive market – one where buyers know that lowball offers on choice properties are likely to get eclipsed with easily more competitive offers.
Houston Has a Strong Economy
Houston is home to industrial bases, corporate headquarters, and a frontrunner in the oil and gas industry. Coming in second in terms of manufacturing GDP in the United States, Houston has such a strong economy and plenty of opportunities for job growth. That’s why it’s no surprise that more people are flocking to the city and looking to establish themselves by buying a home in the area.
And when a city’s economy and job growth is strong, so is its real estate market. This means buyers investing in property now can expect steady growth in the years to come as Houston’s real estate market grows along with the economy.
High Quality of Life
Many of these investors consist of families or those looking to establish their family somewhere with a good quality of life. And cities like Houston are a great place to meet all your needs and provide you with a good quality of life.
Aside from its growing economy, many sectors in Houston have impressive scores. This includes education, healthcare, leisure, culture, and more. Like many major cities, however, Houston has a fairly significant crime rate, though these are limited to the bad neighborhoods within the city. So, if your property is in one of the safer areas of the city, expect that your home can benefit from the real estate trends.
Sell to a Professional Home Buyer
With all these advantages in Houston’s real estate market and economy, it seems like a good time for homeowners planning on selling to list their properties on the market. However, the biggest disadvantage of selling on the market is that nothing is ever guaranteed.
The market is expected to grow steadily within the next year, but any economical or political event can easily turn the tide. And while demand is high for choice properties, properties with code violations, structural damage, or bad locations are less likely to see multiple offers. If you’re looking to sell your home in Houston, TX fast and for the best price, the more convenient solution is to sell to a professional home buyer like Ohana Legacy Properties.
With a cash home buyer, you can receive an offer on your home within a fraction of the time it takes on the market. On average, homes in Texas take 46 days to receive an offer; with Ohana Legacy Properties, you can expect an offer within 72 hours after we view your property. And on top of providing a fair cash offer, we also help you reduce your costs of selling a home by buying the property as-is and shouldering the closing costs.
Ready to Sell Your Home?
Now is a great time to sell your home as Houston’s real estate market and economy attracts more buyers. But without any guarantees to get the best price on your home quickly, your best option is to contact a professional home buyer like Ohana Legacy Properties.
Contact us today to schedule your property viewing.