Wondering if it’s a good time to sell your house in Pflugerville? So far, the housing market in 2023 shares many similarities to the market in 2022.
Both home buyers and sellers are still feeling the impact of high interest rates and inflation. On top of that, the possibility of a recession has many thinking they should delay entering the market.
In this post, our realtors at Your Home Sold Guaranteed Realty - The Salas Team will discuss the 2023 market conditions in Pflugerville. We’ll also cover some of the considerations to think about when deciding whether or not it’s a good time to sell.
What to Know About Pflugerville, Texas, Market Conditions in 2023
In early 2023, the Pflugerville housing market was experiencing lower home prices, fewer homes sold, and longer selling times.
In February 2023, median home prices in Pflugerville were $419,000. This is an 8.4% decrease from June 2022, when home prices hit their peak. This decrease brings median home prices closer to what they were in October 2021.
In addition, there were 55% fewer home sales in February 2023 compared to February 2022. Homes also spent a median of 101 days on the market before selling, an increase of 70 days compared to the previous year.
From January to February 2023, the number of homes listed on the market also increased by 14%, from 277 to 316.
On top of that, 98% of homes sold at their list price, with only 11% percent selling above the list price. A little over 37% of homes experienced a price drop.
Still, the Pflugerville housing market leans more towards a seller’s market, with sellers able to get relatively higher prices for their homes.
What to Consider Before Selling Your House in Pflugerville in 2023
The current Pflugerville housing market has some downsides for home sellers, but it isn’t entirely negative. But if you want a successful home sale, it’s important to consider what direction the market is headed in.
Of course, this is impossible to predict. However, you can pay attention to the latest market updates and consult with professionals when you’re close to listing your home for sale.
As far as 2023 is concerned, some market experts think home prices will continue to fall. Others think interest rates will start to plateau and even decrease, and many see the market entering a recession sometime in the year.
So, does all this mean you should wait to sell your house in Pflugerville 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.
How Can You Sell Your House Fast in a Down Market?
Work With a Professional
If you want to sell your house in Pflugerville 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.
Make Your Home Attractive to Buyers
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.
Price Your Home Correctly
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.
We’ll Help You Sell Your House in Pflugerville in 2023
If you want to sell your house in Pflugerville in 2023, Your Home Sold Guaranteed Realty - The Salas Team should be at the top of your list. We’re the best realtors in Pflugerville 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.