Is the Houston market cooling down?

We’re getting ready to list our home and land in one of the sought-after suburbs of Houston, Pearland if anyone knows the area. I’m just worried it’s going to sit on the market. We sold a house in Houston (Alief) that was on the market for only 4 days and sold for more than the asking price. We’re hopeful the same will happen with this property, but I’m also worried it will just sit. So, is anyone familiar with the market here in the Houston area?

Looks like the median time on the market is about 40 days right now. The main factor in how long it takes to sell is how well it’s priced in comparison to other listings. That 40 days reflects houses that are selling, so if you’re pricing it reasonably, you should be good.

Your question is a bit too general to answer accurately. There’s a lot of variables involved.

When did you buy the house? And what improvements have you made? You can pick any two of these three factors: price, speed of sale, or the condition you need to get it into for the listing.

It’s more the land than the house. It’s in the county, so there are no restrictions on building or permits needed. There is a 6-year-old trailer on the land that’s in good condition, but we know the value lies in the land, not the trailer.

Texas can be tough. Check how many houses are currently on the market for the school district you’re zoned for. I suspect it’s going to be in the three digits.

As much as agents on this forum may try to hide it, several states are experiencing really poor sales right now, and inventory is building.

I moved from the Austin suburbs, and about 3.5 years ago, there were around 20 houses for sale in my district. I checked recently, and it was over 200. There was a lot of new construction that was paused due to COVID, and many people had inflated expectations after seeing how much their neighbor’s house sold for.

There are currently 31 homes listed in our area.

Then you should be good with 31 homes listed. That’s a manageable number.

The market isn’t cooling. People have realized that nobody wants their $400k buy for $750k. Instead of relisting, they’re just pulling it and renting until the market shifts. The best time to buy will be in the next 10-20 years when the boomers start passing away and their estates go up for sale.

The market is pretty rough right now, but you won’t know until you actually try to sell. It’s definitely not 2022 anymore, so set your expectations accordingly.

We are trying to set a competitive price; we’re listening to our realtor and have it listed for less than $300k, which I think is competitive for the area, especially because of the schools we’re zoned to.

Good luck with the sale. Hope it goes smoothly.

Houston is one of the toughest real estate markets in Texas, which is one of the toughest states to sell real estate in the US. If your property is priced competitively, it will sell. Competitively means in line with what similar properties have recently sold for, not just the price of similar active listings.