Houston Texas - Houston TX Real Estate - 2174 Homes For Sale | Zillow (2024)

FAQs

Is now a good time to sell a house in Houston? ›

Best Time to Sell Your House for Higher Price

April, May, and June are the best months to sell your house in Houston. The median sale price of houses in May 2023, was $346,000, which is expected to rise more in 2024. However, cities like Tiki Island and Galena Park follow an upward trend throughout the year.

All segments of the local housing market declined last month, including a 20% drop in sales of homes priced between $500,000 and $1 million. Home prices also rose slightly to an average of $432,000. The median price also increased to $345,500. The local market is still adjusting to a post-pandemic reality.

With the information provided above, you can now see that the answer to the question “Is Houston a good place to invest in real estate in 2023?” is a resounding “Yes!” When evaluating investment property Houston, some factors to consider are the local real estate market, loan availability, rental opportunities, ...

Sale-to-list price ratio: 99.17% Homes in Houston, TX sold for approximately the asking price on average in June 2024. Houston, TX is a buyer's market in June 2024, which means that the supply of homes is greater than the demand for homes.

Nationally, the best time to sell a house is March if you're trying to sell quickly, while the best time to maximize profit is July. Zillow recommends listing your home for sale in March, but no later than Labor Day, based on historical market trends.

Prices will relax, but not crash.

Prices have relaxed in Texas and gone down slightly in many cities, but you should expect prices to go up some in 2024. Currently, the market has about 3.7 months of home inventory.

Houston Housing Market Trends

In June 2024, Houston home prices were up 2.0% compared to last year, selling for a median price of $349K. On average, homes in Houston sell after 32 days on the market compared to 22 days last year.

Texas is one of six states with the most severe shortages, with Houston ranking 5th for worst metropolitan areas in the country, according to the 2024 State of the Nation's Housing report.

A business-friendly climate with relaxed construction regulations and lower labor costs, in addition to a favorable tax structure with no state income tax and lower property taxes, contributes to making Texas housing more affordable.

Why are Texas house prices so cheap? ›

The expansive geography of Texas provides ample land for development, keeping real estate prices competitive. Unlike densely populated states where space is at a premium, Texas's sprawling landscapes allow for more housing developments, leading to a broader range of affordable housing options.

Often, taking up the most significant chunk of your budget during any relocation is housing. The average house pricing and Rent are about 14% lower in Houston, TX than in Dallas, TX. As a golden guide rule for home searching in a new place, your housing expense shouldn't be more than 30% of your total income.

The necessary salary to live a financially stable life in Houston is nearly $12,000 more than in SmartAsset's 2023 report, which said Houston residents needed to make $62,260 a year to live comfortably in 2023. To continue reading this story, visit our ABC13 partners at Houston CultureMap.

Down Payment: With an FHA loan, you can put as little as 3 percent down to purchase a home (plus closing costs—although the seller may be able to assist with those). Non-FHA mortgages will require 10% to 20% down (25% down if purchasing a multi-unit property for use as an investment property).

The pandemic-driven boost to prices should last until at least 2026, according to Bank of America. Housing prices are rapidly rising, and there's room for them to go even higher, according to Michael Gapen. The bank predicts that home prices will rise 4.5% in 2024 and 5% in 2025.

Prices have relaxed in Texas and gone down slightly in many cities, but you should expect prices to go up some in 2024. Currently, the market has about 3.7 months of home inventory. That number needs to hit 6–6.5 months just for the market to be balanced.

1. Best Time to Sell Your House for Higher Price. May, June, and July are the best months to sell your house in Texas. The median sale price of houses in June 2023, was $357,700, which is expected to rise more in 2024.