If you’re planning to sell your house in Leander in 2023, you may be wondering if it’s a good time to enter the market.
Since 2022, home buyers and sellers have had to contend with rising interest rates, high inflation, and concerns about a possible recession. In 2023, these issues are still a top concern for many.
In this article, our realtors at Your Home Sold Guaranteed Realty - The Salas Team will discuss the Leander housing market. We’ll help you make an informed decision by discussing key factors to consider before selling your home. Lastly, we’ll also touch on a few tips to help you sell your home fast and for top dollar in a down market.
What Are The 2023 Housing Market Conditions in Leander, Texas?
The Leander housing market is currently experiencing:
- Reduced buyer demand
- Falling home prices
- Lengthier selling times for homes
- Fewer homes sold
As of early 2023, the median home price was down almost six percent compared to 2022, settling at $453,014. This is lower than the peak in July 2022, and it’s about on par with median homes prices in November 2021.
The number of homes listed for sale has increased by ten percent from January to February 2023. However, the number of homes that get sold has decreased by ten percent compared to 2022.
Homes in Leander spend around 74 days on the market, which is an increase of 42 days from the same time last year.
Most homes sell at or below listing price, and only 16% of homes sell above asking price. In addition, 37% of homes experience a price drop.
Overall, the Leander housing market is not very competitive. It’s also a buyer’s market, since homes have low prices and tend to spend longer on the market.
What To Know Before Deciding to Sell Your House in Leander in 2023
The current Leander housing market may not be advantageous for home sellers, but that doesn’t necessarily mean you can’t pull off a successful home sale.
Of course, predicting the future direction of the housing market is challenging. Some real estate experts expect a further decline in home prices, while others anticipate an increase.
Likewise, certain economists expect interest rates to stabilize or even decrease, which could encourage more homebuyers to enter the market. Others believe the market could enter a recession sometime in 2023.
So, does all this mean you should wait to sell your house in Leander in 2023? Ultimately, the answer will depend on your unique circumstances and the risks you’re willing to take.
If you’re also planning on buying a home, it might be better to wait to sell since you’ll be facing the same interest rates as other buyers.
On the other hand, it’s typically better to sell before a recession occurs and causes demand to fall. If you’re worried about the possibility of a recession, you’ll need to work with a qualified realtor. Realtors are deeply familiar with the historical market patterns in your area and can help you time the market.
If you aren’t as concerned about high interest rates, then you might consider selling before home prices potentially get lower. Again, a realtor can help you make this decision.
Of course, some home sellers don’t have a choice about whether or not to sell. If you can’t avoid selling your home, there are several steps you can take to sell it fast and for top dollar.
3 Ways to Sell Your House Successfully in a Down Market
Get The Opinion of a Professional
If you want to sell your house in Leander fast and for top dollar, the first step is hiring an experienced realtor. A realtor with years of experience in the market will know exactly what to do to help you get through a difficult housing market.
They have access to the most up-to-date housing market information, and can help you price your home reasonably. These skills are especially important when home prices can change daily.
Invest in Your Home
Home buyers’ wallets will be stretched thin already, so they won’t want to worry about having to make repairs to their new home.
For this reason, most home buyers generally prefer paying more in exchange for a move-in ready home. Hire general contractors to take care of basic repairs, and professional cleaners and landscapers to tidy up your home’s appearance.
Then, consider upgrading your home to make it more attractive and modern. For example, replacing outdated appliances or revamping hardware and lighting fixtures.
Once your home is in good shape, you’ll need to hire a professional home stager to maximize its best features.
Set a Fair Asking Price
The first week is often crucial in terms of the success of your home sale. Pricing slightly higher than market value in the hopes you can make a little more profit can be a huge risk. The longer your home spends on the market, the less likely buyers will be willing to pay the asking price.
When this happens, you have to reduce the price. In the worst-case scenario, you may have to relist the home. To avoid a prolonged home sale, be sure to follow your realtor’s advice about how to set your listing price.
In addition, consider including seller concessions to attract home buyers and gain an edge over other listings. For example, offering to cover their closing costs or paying property taxes through the end of the year.
Work With Us to Sell Your House in Leander in 2023
If you want to sell your house in Leander in 2023, Your Home Sold Guaranteed Realty - The Salas Team should be at the top of your list. We’re the best realtors in Leander for a reason.
We’ve been serving the area for years and have navigated down markets before. We always get our clients’ homes to sell fast and for top dollar.
In fact, we go a step further than other realtors by guaranteeing the sale of your home. With our Guaranteed Sale Program, your home will sell within your desired time frame, no matter what. If it doesn’t sell to a home buyer, our team will buy it ourselves for an agreed-upon price.
This guarantee is essential when you’re selling in a challenging market. It acts as an insurance policy, giving you a risk-free home-selling experience.To learn about our other seller guarantees or what it’s like working with our team, give us a call at 855-331-7653. You can also fill out the form below for more information.