Houston's real estate market remains red hot.
It's still a seller's market locally as buyers compete for a limited number of homes. The median sale price in the Greater Houston area between January and September was $296,363. Over the same period, 34.5% of Houston area homes sold above the asking price. While that sounds high, those numbers are actually well below the national average, which is 48.5% of homes sold above the asking price.
“That affordability factor has been very attractive, and we see that,” Houston realtor Kenya Burrell-VanWormer said. “So, we’ve seen an influx [of people] from California and from other states right now that are impacting our market.”
She adds that there are some homeowners who considering all their options.
“We have sellers that are interested in knowing how much I can actually get for my home right now and take advantage of this unusual market,” Burrell-VanWormer explained. “We have some sellers that are deciding, ‘you know what, I’m going to sell, and rent for the next year or so.’”