The housing market across America continues to flourish, causing issues for buyers, but presenting excellent opportunities for sellers. In a new report published by Zillow, sellers in competitive markets on the West Coast and elsewhere in the States (including Texas) are seeing six-figure gains. Individuals who sold their homes in 2017 made $38,856 on average, which was slightly below the previous year. 2016 and 2017 were the most profitable years for many sellers in nearly a decade, with homeowners gaining $47,500 on average.
It should come as no surprise that those living in the Bay Area, Los Angeles, and Seattle metro areas have been the most profitable in home sales, with some homeowners making as much as $296,000 on the sale of their home. While these West Coast areas are certainly leading the back, Dallas and other Texas cities aren’t far behind. In fact, Dallas is in the top 11, with sellers making $56,000 on average. Two other Texas cities – Austin and Houston – also made Zillow’s list of the top 20 profitable areas in the country.
Texas Housing Market Continues to Thrive
These numbers are just the latest in a long string of reports to show just how popular Texas has become. As we’ve discussed, potential buyers are struggling to find exactly what they are looking for in Frisco and throughout the rest of North Texas, namely because there simply isn’t enough inventory. On top of that, builders are having a difficult time keeping up with the demand. With the potential for Amazon HQ2 to choose Dallas as its final destination, the housing market is only going to continue to be competitive. Although this is perhaps not the news homebuyers were looking for, sellers are rejoicing. If you have been considering selling your North Texas home, there is no time like the present. Here at The Cheney Group, our Frisco Realtors have been keeping a close eye on the market and are here to help you sell your home for the most profit. As home prices continue to skyrocket, sellers are poised to make a pretty penny in Dallas and throughout the surrounding neighborhoods and communities.
Austin and Dallas are among cities with the highest potential gain behind West Coast cities such as San Jose, San Francisco, San Diego, Portland, and Sacramento. Nashville also made the cut, with sellers making $62,000 on average. While we certainly can’t predict the future, it’s safe to say the housing market will continue to flourish in Texas for some time. As more headquarters come to the area and new developments continue to pop up, there will be no shortage of homebuyers looking for their dream home. If you have been thinking about selling for a while but aren’t sure when the best time is, please contact the Cheney Group. Our experienced Frisco real estate team not only understands the area and current market trends but has your best interests in mind and will work with you to achieve your goals. Give us a call today and get your house on the market!