When is the best time to sell your house in Texas?
House sales in Dallas, Texas are very consistent throughout the year. However, the worst and best periods to sell a house and find a profitable homebuyer still exist.
According to Realtor, Dallas will have an 11.3 percent growth and a 4.4 percent increase in sales price in 2021.
Although 4.4 percent may not seem like much at first, if the median price rises from $390,000, selling a home at the proper moment can increase the asking price by $5,000 to $10,000.
Given the nature of the Dallas real estate market, you’ll want to pick the optimum moment to buy, especially if you’re not in a rush.
What you need to figure out when the best time is, complications arise. Perhaps you should wait, or perhaps you should begin selling your home right away.
We’ll go through a complete review of the Dallas real estate market to assist you to determine the optimum time to sell your home in Dallas, Texas. We’ll also dig deeper into the best month of the year and why timing is important when selling a home in Texas.
An Overview of the Dallas Real Estate Market
Even though the Dallas real estate market isn’t the largest in the country, the Dallas–Fort Worth metroplex had a population of 7,573,136 people in 2019, according to the United States Census Bureau. The only city with a larger population is New York.
Meaning, there are chances, but there is also room for caution.
Dallas, like the rest of the country, is recovering from the year 2020. Along with other important factors (such as unemployment), there are three main aspects to consider when assessing the real estate market.
Supply and Demand– Between 2020 and 2021, the housing supply decreased by 69 percent, while housing demand increased steadily.
Market value is increasing — According to research, DFW might be the 6th largest real estate market in 2021.
Home value is rising– The average price of a house in the Dallas local market should rise in 2021 and 2022, according to the Realtor analysis previously stated.
When you consider the three factors, it appears that now is the best moment to sell your home in Dallas. Because there is a shortage of supply, and also low competition.
Aside from the rise in housing prices, Dallas-Fort Worth saw the second-largest inflow of people in 2020, after only Austin. As a result of the pandemic, many people in the United States relocated to more expensive and larger cities. For the most part, they are looking for cities that provide similar chances without the hectic lifestyle.
Due to new restrictions, Dallas house selling fees are expected to decrease, along with national real estate commissions.
However, if buyer’s agents’ commission fees decrease, buyers will be responsible for the difference, making them less likely to purchase a home.
If you’re selling your home for $390,000 and the average commission rate is 6%, you can expect to pay around $23,400 in closing fees.
Finally, don’t forget to include all of the appropriate documentation when selling your house.
Best Time of the Year to Sell Your House in Dallas
If you’re trying to figure out what the ideal time of year is to sell your property in Dallas, you’ll need to consider a few other factors as well.
The greatest time to sell a house in Dallas or anywhere else is in the spring and summer. Homebuyers are more likely to research other real estate options now that the weather is beautiful. Furthermore, any property is illuminated better on a typical sunny day.
Both the buyer’s market and housing supply normally peak in the spring. During the summer, families will be rushing to relocate before the start of the new school year.
It’s feasible to narrow it down even more. Because most people shop on weekends (and this includes home buyers), it’s best for home sellers to advertise their homes on Thursday or Friday. That way, when the market heats up, your listing will be at the top.
However, as a home seller, you must consider when is the greatest time to sell your home. Summer is often easier to relocate if you’re selling a house and simultaneously seeking to buy one. Due to the school vacations, it will be easier for families with children to relocate.
You should also keep an eye on the current housing supply in Dallas, as well as the overall job market. The employment rate in Texas increased somewhat in 2021, indicating that now is a good time to sell a home in Dallas.
Because it takes 30-60 days to sell a house, you’ll want to list in the spring to avoid missing out on the summer demand.
Be advised that spring and summer are approximations, and the ideal period is determined primarily by market conditions. You can pinpoint the optimal time to sell your house if you aim for that time of year and analyze current market statistics.
Best Month of the Year to Sell Your House in Dallas
In general, May and June are the greatest months of the year to sell your home in Dallas and the rest of Texas. To hit the bullseye, you should list your home between March and May.
The median days on the market is a useful measure to use (DOM). The most common day count between listing and selling a house in Dallas is shown by the DOM.
The lower the DOM, the better for home sellers because it indicates a significant demand from purchasers. DOM tends to fluctuate, especially in markets with large weather swings.
Dallas’ DOM reached a high of 68 days in February. It’s been falling since then, and it’s expected to continue into the spring and summer.
You might expect to sell a house in Dallas two weeks faster if you time your listing correctly. In other words, if you want to hit the correct DOM, you should list your house by late May at the latest.
JZ Home Buyers is a group of professional agents who can assist you in selling your home. We are committed to conducting business with the highest levels of integrity, efficiency, and professionalism.
Call us at 817-382-3579 or go to www.jzhomebuyers.com. Let’s talk about how we can help you sell your home.