HOUSTON – If you’ve been shopping around or trying to sell your home, you know the housing market in the Houston area has been all over the place this year.
Record-high mortgage rates and sky-high home prices that shot-up during and after Covid, have made it incredibly tough for people to reach their dream of a new home-- until now. Believe it or not, housing prices are finally starting to dip a little, so now might be the right time for you to start house shopping again. Of course, you want to know where the best deals are and Investigator Bill Spencer has done all of the homework for us to find the top 3 best places to buy a home in the Houston area right now.
Home shopping in the Houston area
Tameca Donavon, Jennifer and Earl Simpson and Jorge Perez are home buyers on the hunt in the Houston area. To say it’s been difficult, is an understatement.
“We’ve been looking on and off for the past two years,” said Jennifer Simpson.
The problem is right after covid hit, real estate prices all over the greater Houston market went crazy. Homebuyers didn’t know what to do, according to Thomas Mouton, Chairman Elect with the Houston Association of Realtors.
“We just came out of a situation where the market was gangbusters, was through the roof, multiple bidding, multiple wars,” said Mouton.
Now two years later prices are finally starting to fall. According to Rocket Homes, the median selling price of a home in Houston right now stands at $315,000. That’s $19,000 dollars cheaper than one year ago at this time.
“We’re seeing prices decrease anywhere from three to five percent depending on the area,” said current HAR chair Cathy Trevino.
Which brings up the big question, with home prices dropping where can you find the very best deals right now?
Working with HAR and four real estate agents KPRC 2 has come up with three hot-deal areas where you can get the most bang for your buck.
#1 Humble - average home price $263,000
Example home at 8538 Discus drive is 4 bedrooms, 1,900 square feet and priced at $269,000 dollars.
“I like the fact that you can start new construction in the upper two-hundreds “you get a lot of square footage, you know you get a lot of bang for your buck,” said Natasha Simon, Keller Williams Memorial Realty
#2 La Porte - average home price $292,000.
Example is a home at 3531 Gladwyne Lane, 4 bedrooms, 1,900 square feet and priced at $298,000 dollars.
“What do you like about the La Porte area?” asks Bill.
“There’s a lot of growth going into that northeast area, so the price points are only going to grow, so it’s a great time to get in there,” said Mouton.
#3 Old Towne Katy - average home price $419,000
The average home price of $418,000 dollars is a price drop of more than $20,000 dollars from last year. One example is a four-bedroom home on Adobe Ridge Lane, 3,000 square feet priced at $385,000 dollars.
“So my number three pick is going to be Old Towne Katy. We have clients buy homes out there for as little as $250,000. Brand new homes up to $300,000,” said Thurayah McBride, real estate agent.
Finally, some good news for “sticker-shock-weary” homebuyers.
We want to make homebuying as easy as possible for you. At this link from the Houston Associated of Realtors, find the median home price for places throughout the Houston area.