Houston, TX home prices and housing market

Houston home values have slipped about 2.3 percent over the past year, and buyers are starting to notice. If you are thinking about selling, here is what the numbers say about where your leverage really stands right now. The typical Houston home is worth about two hundred forty-eight thousand dollars, and there are roughly eleven thousand five hundred homes for sale across the city. That is a lot of competition for your buyer's attention, and it shows up in how long things take. The median home is sitting for 52 days before going under contract, so this is not a market where a listing sells itself over a weekend. Nearly 18 percent of active listings have already cut their price, which tells you a meaningful share of sellers started too high and had to chase the market down. But here is the catch that explains most of it. The median list price is about two hundred ninety-three thousand dollars, roughly forty-five thousand dollars above what the typical home is actually worth. That gap between asking and reality is where listings stall. With about two thousand eight hundred new listings hitting the market every month, you cannot afford to sit overpriced for two months and then cut. If you price at what the market will actually pay from day one, you can still sell well in Houston. If you want to know what your home is really worth today, get a free estimate at Home Value Pros dot com.