When Is the Best Time to Sell a House in Waco, TX?When is the best time to sell a house in Waco, TX?In Waco, the strongest selling season is typically February through May, when buyer activity tends
Waco Texas Market Action Index - Sunday July 21, 20204
Dated: July 21 2024
Views: 188
If you are like me, you are ready for the presidential election cycle to be over already. As important as it is, I find it incredibly disruptive to daily life. But this begs the questions as to its true impact on the economy. Since the housing market is such a huge part of the GDP, and the economy, let's take a look at the data. Maybe it will give us some peace for the moment, or at least some hope :)
Even though the Market Action Index shows a slight seller advantage, this is due to the lack of inventory in the Waco, Texas market. What turns the summer in to a buyer's market is the lack of demand. Active Buyers are getting all the attention right now as sellers are willing to negotiate to secure a solid contract. Since interest rates continue to drop, now in the mid 6's, along with the added advantage of negotiating significant price discounts, it's an amazing time to secure a home.
Sellers, it's important to note that well maintained and updated homes are still seeing shorter days on market. Buyers continue to be finicky. Pricing your home appropriately and/or responding quickly is the name of the game.
You might want to zoom in on this graph to see the detail but the top blue line illustrates median list prices for the upper price tier, or homes in the highest 25% of the Waco, Texas market. There has been a lot of volatility in this market segment as rising interest rates have their largest impact on affordability. If you were interested in a luxury home, THIS would likely be your last season to secure something at a discount.
The other 75% of the market seems to have flatlined. Not significantly higher in listing price compared to the post-pandemic rush. If you needed to sell, you'd likely have a little equity to ensure you get your initial investment back assuming the home was maintained or improved.
Cristi McGowan
Cristi McGowan | Waco Real Estate Broker Serving Waco, Woodway, China Spring, Lorena, Hewitt, Robinson, McGregor, Crawford, Valley Mills and surrounding Central Texas communities With more than ....
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All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
