Texas Housing Market on the Rise!
SELLING YOUR PROPERTY IS AS EASY AS 1-2-3
Things may have begun to look up in the national housing market, but if you want to sell your property in Texas, you are one enormous step ahead of the rest.
Currently, housing inventory in Texas is at an all-time low, and prices for homes have been skyrocketing because of it. Statewide, the median price for a single-family home has shot up 10 percent from the previous year, according to the Texas Quarterly Housing Report.
Back to Seller’s Market
This means that it is turning back into a seller’s market. Supply and demand rules this market, and right now, there is a short supply. There hasn’t been a better time to sell in recent years. There is less than three months of inventory in over 10 markets throughout Texas, including large markets such as Austin and Dallas, according to economist Jim Gaines of the Texas A&M Real Estate Center, which analyzed data from the Texas Association of Realtors’ report.
Texas has seen nearly a 12 percent increase in home sales from October, 2012, to October, 2013, according to CoreLogic, a California based company that provides comprehensive data and analysis of contemporary real estate statistics.
Texas is an extremely attractive place to live for prospective buyers because of the surplus of high-paying energy and professional careers. Combined with a low cost of living and the absence of an income tax, the Lone Star state has never looked more appealing to the masses. Close to 2.5 million people relocated to Texas between 2008 and 2012, according to technology-based real estate brokerage firm Redfin’s latest report.
Texas is Consistent
Despite this upswing in the market, sales of distressed homes, or homes in some stage of foreclosure, have fallen nearly four percent from October, 2012, to October, 2013, according to CoreLogic. Texas is one of a handful of states that have had consistent sales in distressed inventory, but with the recent housing boom sweeping the state, none can anticipate if or how this trend may change.
While the market may be hot right now, it is important to remember that many buyers are looking for a home that is move-in ready. If your property is not, there are numerous tips and tricks you can use to make your property more attractive to prospective buyers. However, if you are not interested in renovating your property, or if you need or want to sell your home quickly, remember that we buy properties in an as-is condition.
Even if you do not choose to use our services, we may still have several ideas you can use to sell your home in Texas. Please contact us at 512-785-5404 or email us today.
