Is It A Good Time To Sell A House in Houston
According to the Houston Association of Realtors, Houston area home sales set new records in May as consumers took advantage of historically low interest rates in snapping up an ever-dwindling supply of properties for sale. What resulted was a nearly 50 percent jump in sales volume compared to the same month last year, when real estate was still in the process of recovering from coronavirus-related lockdown orders. Limited supply, strong buyer demand and increased construction costs all contributed to record high home prices.
According to the latest Houston Association of Realtors (HAR) Market Update, single-family homes sales surged 48.2 percent compared to last May, with 9,702 units sold versus 6,546 a year earlier. That marks the greatest one-month year-over-year sales volume increase of all time and is the market’s twelfth consecutive positive month of sales. On a year-to-date basis, home sales are leading 2020’s record pace by 29.5 percent.
Homes priced from $750,000 and above led the way in May sales volume, shattering all previous measurements with a whopping 291.0 percent year-over-year increase. That was followed by the $500,000 to $750,000 segment, which rocketed 166.0 percent. This unprecedented surge in high-dollar homebuying is responsible for pushing pricing to record-setting levels. The single-family home average price rose 29.7 percent to $387,105 and the median price increased 21.7 percent to $304,000.
Sales of all property types totaled 12,100 – the second highest volume of all time. That is up 55.5 percent from May 2020. Total dollar volume for the month soared 100.5 percent to $4.4 billion.
“We are witnessing the most energized Houston real estate market in history,” said HAR Chairman Richard Miranda with Keller Williams Platinum. “Sellers maintain the upper hand, and buyers are not just meeting their demands. They are exceeding them, as we hear endless accounts of offers coming in that are thousands of dollars above list price. It’s difficult to predict how and when this incredible housing run will end.”
Get More Than Your Listing Price
Not only are we seeing rapid sales throughout the Greater Houston area, we are commonly seeing sellers get more than they are asking for from buyers. It is a sellers market in Houston with no signs of it slowing down anytime soon.
So, what can I do to ensure my home sells quickly?
If you are interested in selling your home for top dollar and keeping it from sitting on the market without activity Equinox Realty Group can help you.
We will take professional photos of your space to ensure it is attracting the best buyers on the market. Our team works to ensure your listing is gaining maximum exposure by putting it on many different websites for home buyers. Once you begin generating interest for your listing we will negotiate and advocate on your behalf to ensure you are getting the best deal for your listing.
Right now we are seeing historically low interest rates, record low supply, and extremely high demand. All of these factors have led to a perfect climate for Houston homeowners to sell their property at top dollar. Do not waste any time, if you are considering selling your home, reach out to Equinox Realty Group today.
Whether you have a single family home in Houston or a multifamily Houston home, this is the month to sell! Median sale prices are at a record high in the Houston housing market. Homes sold quicker in the last few months than in years. If you are in Houston, Texas, take advantage of these market conditions.
Equinox Realty Group in Houston
Equinox Realty Group, is a Texas real estate firm, located at 1980 Post Oak Blvd Suite 100, Houston, TX 77056. Equinox Realty Group provides a wide-range of real estate services. Consumers continue to find value in having a real estate professional help them through the home buying and selling process.
The wide variety of services real estate professionals provide are proving ever more valuable in real estate transactions(financing twists and sales contract intricacies). Please view Equinox Realty Group current listings or sold listings. Recently serving clients in areas Garden Oaks, Northwest Houston, Waller.
Buyers and sellers give high marks to real estate agents for the expertise and professionalism they bring to the real estate transaction.
Equinox Realty Group
1980 Post Oak Blvd Suite 100,
Houston, TX 77056