If you’re thinking of selling your home, one of the top questions on your mind may be, how long does it take to sell a house in Houston? The reality is, while the average days on market (DOM) in Houston has risen slightly to 57 days according to an April 2019 press release by the Houston Association of REALTORS®, there are still multiple factors that go into determining how long you can expect to wait.
We’ve laid out some of the most common factors that influence the time it takes to sell a house in Houston. When the time comes to sell, knowing this information will allow you to put yourself in the best possible position to find a buyer fast.
Asking price
Home condition
Lot and location
Market conditions
Time of year
Asking price
Setting the asking price is an important factor in how long it’ll take to sell your home. Sellers can fall victim to the belief that overpricing the home is the way to go. Overpriced homes can end up sitting on the market and get continually passed over for homes that are a better deal or have more to offer. Ultimately, these homes can end up selling for a lower price than the original asking price and taking much longer to find a buyer.
Instead, pricing the home as accurately as possible is the best way to catch the attention of buyers and to encourage offers. The price should be based on the home’s fair market value, or an assessment of what buyers might be willing to pay for the home based on its qualities and current market conditions..
To give you an idea of what you can expect, the median sale price of a single-family home in Houston is currently $245,000, according to that April 2019 press release by the Houston MLS. However, before you can bank on that figure, you need to take into account factors such as your home’s location, condition, and current market trends.
Home condition
One of the main factors that affects your asking price and the expected days on market is the condition that your home is in when you decide to put it up for sale. Conventional wisdom states that a move-in ready home will be snapped up faster than one that requires a lot more work to be done. However, a competitively-priced fixer-upper could move just as fast.
Ruth carratala, recommends paying particular attention to your roof and HVAC. “It’s important to get your roof and HVAC tuned up, serviced and in solid working order. Be sure to file your insurance claims in a timely manner for any roof damage, so you can get the paperwork going before you are ready to sell.”
Time of year
Believe it or not, the time of year also has an effect on how long it will take to find a buyer. In many markets, the spring and summer season tends to bring with it a surge of eager buyers and can be considered the best time to sell. Reasoning holds that it’s easier to move when school is out of session and snowfall is not an issue. However, in some markets where winter weather creates a draw, the opposite is true.
In Houston, the market seems to be ramping up with the warmer weather. In the press release, Houston Association of Realtors Chair, Shannon Cobb Evans, is quoted as saying, ”Consumers have been taking advantage of optimal conditions for home buying, with low interest rates and a growing supply of properties, and that has powered Houston to a strong springtime performance.”
As a seller, that means the timing of your sale is everything. You can either take advantage of the strong spring market and join the pack or wait until winter where there may be fewer buyers, but there’s also less competition. Ultimately, the best time to sell is when it works best for you, both financially and in terms of life circumstances.
Key takeaways
There are several important factors that affect how long it takes to sell a house. Asking price, property and neighborhood characteristics, and the time of year can all impact your timeline. The good news is that there are now more ways than ever to sell your house in Houston, giving sellers more flexibility and choice to make the right decisions for themselves and their family.
This article is meant for informational purposes only and is not intended to be construed as financial, tax, legal, or insurance advice.
