"Texas home sellers are facing a slower fall market as listings spend longer on the market and inventory rises across the state. More than 137,000 single-family homes are now active statewide, equal to about 3.7 months of supply. The median list price in Texas is $377,558, with new listings entering slightly lower at $358,450. While pricing remains lower than the national $444,900 median, the state's market shows more competition as supply builds."
"Homes in Texas are taking longer to sell. The median days on market has reached 84, compared with the national figure of 70. The average listing now lingers for 125 days, underscoring the slower pace of buyer activity. Longer timelines add pressure for sellers to adjust pricing strategies in order to compete. About 44% of active Texas listings have recorded a price cut, and 13% have been relisted."
"While the share of listings with price cuts is similar to the national trend, Texas sellers face longer timelines and higher inventory, adding pressure to adjust. Despite the slower turnover, buyers are still active. More than 35,000 homes are under contract, with pending transactions closing in an average of 34 days. The median pending price is $359,900, close to where new listings are being introduced."
Texas home sellers are facing a slower fall market as listings spend longer and statewide inventory rises to more than 137,000 single-family homes, about 3.7 months of supply. The median list price is $377,558, while new listings enter at $358,450, below the national median of $444,900. Listing timelines have lengthened: median days on market are 84 and average listing duration is 125 days. About 44% of active listings have had price cuts and 13% have been relisted. More than 35,000 homes are under contract, with pending transactions closing in an average of 34 days and a median pending price of $359,900. Competitive initial pricing and timely adjustments are critical.
Read at www.housingwire.com
Unable to calculate read time
Collection
[
|
...
]