Should I sell my house? Houston's current real estate market makes many sellers wonder if it is the right time to sell their house. Houston has a hot market, but what does that mean for sellers? What does it even mean for the market to be "hot"? Here is our brief explanation on when you should sell your home.
What makes a HOT real estate market?
In a normal market, there is usually about six months worth of housing inventory, (houses for sale) which means that if there were NO other new houses appearing on the market, it would take about six months to sell every single one of those available houses.
According to Har.com, Houston had only 2.6 months worth of inventory (houses for sale) in February 2014. Due to this low inventory, buyers do not have many options and houses sell much more quickly because of the demand. While bidding wars have cooled off nationally since 2013, they still exist here because of Houston’s hot market.
When should I sell my house?
The answer is NOW! Inventory is currently low and as a result prices and competition are high!
If you have the means, time and resources, selling your house through traditional methods will gain you the highest price. However, even if you need to sell your house quickly, in “as-is” condition to a cash buyer, you can still get a great deal in this hot market
For example, Big State Home Buyers buys houses at a discount; however, with the current HOT market and low inventory we are able to offer sellers higher cash prices. In some cases people sell their houses to us when there is nothing wrong with the house nor urgent situation, but simply because they can afford to sell at the discounted price offered.
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