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It’s a Seller’s Market for Houston Homes. Here’s How to Take Advantage

Written by Natasha Carroll Realty Posted On Friday, 26 March 2021 21:02
It’s a Seller’s Market for Houston Homes. Here’s How to Take Advantage

There has literally never been a better time to sell a home in the Houston metropolitan area. According to the Houston Association of Realtors (HAR), COVID negatively impacted the housing market for just two months (April and May) in 2020; since then, the market gained momentum every month for the rest of the year -- bouncing back to shatter 2019’s record-breaking volume by almost 12%! 

With strong demand, historically low interest rates and the lowest inventory ever recorded, more than 115,500 properties sold last year (including 96,100 single-family units), marking only the second time in history sales topped 100,000. And that’s not all. Dollar volume broke records, too, shooting up 18% to $35.3 billion.

How can you best get in on this action by selling your Houston-area home? As a Houston-based real estate agent and investor who specializes in selling properties in the region, I know the local market like the back of my hand. So I’m excited to present these top five not-so-obvious tips for selling your Houston home quickly and maybe even for more than your asking price.

Get Ready to Sell Soon!

My clients are fielding multiple offers and entertaining bidding wars as ravenously interested buyers are clamoring to purchase their properties. Why this incredible surge in activity? 

Year-end 2020 inventory fell to a 1.9 months supply, bringing it to its lowest level ever. As a point of comparison, a six-months supply is considered “balanced.” This signals a healthy market and means it would likely take six months to deplete current active inventory. A 1.9 months supply means the market is on fire! 

As a bonus, December sales, when measured in dollars, reached their highest levels ever: properties sold for an average price of $347,164 and a median price of $273,443.

Price it right! 

You don’t know how much you should sell her home for? It is super important to price it right! If possible, price your single-family home between $500,000-$750,000, which represented the strongest sales activity in December, the last month with available figures. Sales of houses in this price range skyrocketed 80% from December 2019 to December 2020. Luxury homes priced above $750,000 showed the second-highest amount of activity, followed by units that sold between $250,000-500,000.

If you choose to sell your home yourself, be sure to conduct a CMA, a comparative market analysis. On my blog I take you through the process step-by-step.

Consider selling your starter home! 

If your home value falls below that $250,000 target, look for signs it’s time to upgrade. Ask yourself the following questions: Is your growing family outgrowing your house? Does a new work-from home routine leave you and your spouse arguing over home-office space? Can you comfortably afford a bigger home? Has your home value appreciated significantly and/or are you weighing the costs of making major repairs? Are you in a position to start building wealth by increasing your equity? 

Finally, are the market conditions favorable? I can tell you the answer to the last question is most definitely yes!

Prepare your home for sale!

Start by improving your curb appeal by making sure your lawn looks pleasant and neat, and don’t overlook any trees or bushes that need trimming and mulching. If your yard looks barren, you may want to pop a few plants around your front door. Fix up any parts of your driveway, walkway or porch that may need it. And do your facade and your front door a favor: touch up any missing paint and power-wash, power-wash, power-wash. That goes for all visible surfaces, too, including your sidewalk. 

On the inside, do the two D’s: decluttering and deep cleaning. You’ll need to do it eventually so why not start now? You’ll sell your house faster and maybe for more money by making it look bigger, brighter and better-kept if you pack up most of your knick-knacks, furniture the dog likes to chew on, toys that have fallen out of favor, and, sorry, yes, most of your family photos. To be perfectly honest, a buyer wants to picture their own family in the home, not yours. 

Then clean EVERYTHING, I mean, EVERYTHING. Polish those doorknobs and handrails, deep-clean the grout, clean the carpet, and make sure mechanical items like your air conditioner and water heater work properly enough to pass inspection. A fresh coat of paint -- especially on those purple kitchen walls that seemed a good idea at the time -- can cheerfully update a home you may not have noticed has started to show a little wear.

Promote your prized possession! 

Once you’ve cleaned, repaired and potentially staged your home, it’s time to show it off to prospective buyers. You’ve heard you need to take the most flattering pictures possible but you may not know to showcase some seemingly minor features that can make your house stand out in ways that might surprise you. 

When you’re listing your house and marketing on social media (you are going to market it on social media, aren’t you?!), slip in some tidbits your neighbors would probably never think of. A short distance to a grocery store, especially Whole Foods, Trader Joe’s or Walmart, can increase your sale price by more than 40%. Mature trees can increase a home’s value by thousands of dollars because they provide shade, a windbreak (hello, lower heating and cooling costs), and amazing aesthetic appeal. And finally, play up the numbers 6, 8 and 9 in your address, phone number and listing price because Chinese buyers see them as good luck and have actually started bidding wars over properties that contain these numbers. 

About Natasha Carroll Realty

DSC 0903 Natasha Carroll Facial ShotNatasha Carroll Realty is a boutique real estate firm offering personalized service for buyers and sellers in the greater Houston area. With a background in real estate investing, Natasha holds certificates such as the SRS - Seller Representative Specialist and CIPS - Certified International Property Specialist. She has been featured in Inman, Yahoo Finance, NBC, FOX and more. To get in contact with Natasha, click here.

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