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\n <\/div>\n \n What's Your Texas Home Worth Now?<\/h3>\n
Get a near-instant real estate house price estimate from HomeLight for free. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes.<\/p>\n \n
What\u2019s the Texas housing market like right now?<\/h2>\n
The Texas housing market is known for its fluctuations, influenced by everything from local demand and hurricane activity to national economics and partisan politics. In 2024, the market showed signs of cooling<\/a> compared to the explosive growth of recent years, but it remains competitive in many areas.<\/p>\n Higher interest rates and home prices are impacting buyer activity. According to data from the Texas Realtors Association<\/a> third-quarter statewide report:<\/p>\n But even with cooling home sales, Texas is still one of the fastest-growing states<\/a>, which continues to drive housing demand. In high-demand areas like some suburbs of Houston and Dallas, homes can sell faster than the average. However, in other locations, you may need to adjust your expectations on pricing or timelines compared to the more active market conditions Texas experienced a few years ago.<\/p>\n \u201cIt\u2019s taking longer to sell houses because there are more houses to see,\u201d says Chris Winstead<\/a>, a top-rated San Antonio real estate agent who sells homes 40% quicker than average agents in his market. \u201cThere are almost twice as many options for buyers, and that kind of lines up with the increase in days on market.\u201d<\/p>\n Pricing your home correctly<\/a> is one of the most crucial factors in attracting buyers. If you price it too high, your listing could sit on the market too long, which can lead to price cuts and a lower final sale price. If you price it too low, you could miss out on profits.<\/p>\n Winstead says setting the right listing price<\/a> is more important when buyers have more options. \u201cThere are more houses on the market, so buyers can wait a little bit longer. There’s no rush for them to hurry up and get into the home and submit the offer the first couple of days a house is on the market,\u201d he explains. \u201cThat’s why it now takes about 13 showings to get from listing to pending.\u201d<\/p>\n To determine the right price, start by looking at recent sales of similar homes<\/a> in your area. Your real estate agent will provide a comparative market analysis<\/a> (CMA) to help you see where your home stands. Factors like your home\u2019s condition, location, and the current market conditions in your neighborhood will play a role.<\/p>\n In more active markets like Austin<\/a>, pricing slightly below market value can sometimes create a bidding war, helping you sell for more.<\/p>\n The amount you\u2019ll make from selling your house depends on several factors, including the final sale price, closing costs, and your outstanding mortgage balance. On average, Texas home sellers can expect to pay closing costs of 6% to 10%<\/a> of the selling price, which usually includes Realtor fees. Let\u2019s look at an example that illustrates how a typical homeowner might walk away from a home sale with $81,800 in proceeds<\/a>.<\/p>\n According to Experian, the average homeowner in Texas has a mortgage debt of about $231,000<\/a>. Using a median home price of $340,000, and a mid-range 8% closing costs estimate, here\u2019s how your proceeds might play out:<\/p>\n Of course, this simplified example does not take into account additional costs you may have for home preparations<\/a>, repairs<\/a>, and moving<\/a> expenses.<\/p>\n As noted, closing costs can range between 6% to 10% of the home\u2019s selling price. Here\u2019s a look at some typical Texas seller closing costs:<\/p>\n\n
How should I price my Texas home?<\/h2>\n
How much will I make selling a house in Texas?<\/h2>\n
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What closing costs will I pay when selling a house in Texas?<\/h2>\n
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