Selling a home is always a significant financial undertaking, and as everything seems to be bigger in Texas — so goes the housing market.
Though there are no guarantees for timelines or returns when it comes to buying and selling a home, the Texan real estate business is booming. It is one of the fastest-growing states in the U.S. — especially in cities like Austin, Dallas, Houston and San Antonio, which have experienced significant growth — making these areas desirable for homebuyers.
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Texas is not immune to the fluctuating real estate trends over the past few years, driven by factors such as interest rates, the post-pandemic demand surge and changes in buyer preferences. However, GOBankingRates recently conducted a study to examine the best housing markets in cities across the country and found 17 locations within Texas that are worth considering. The analysis was based on such factors as 1-year and 2-year changes in home value, the share of listings with a price cut, mean list-to-sale ratio and pending days to close.
Here are the 17 housing markets in the Lone Star State where you can grow your wealth, and how quickly you can expect to do just that.
El Paso
- August 2022 home value: $196,585
- August 2023 home value: $209,683
- August 2024 home value: $218,261
- 1-year home value change: 4.09%
- 2-year home value change: 11.03%
- Mean sale-to-list ratio: 98.72%
- Mean days to close: 33
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McAllen
- August 2022 home value: $169,071
- August 2023 home value: $177,945
- August 2024 home value: $186,228
- 1-year home value change: 4.66%
- 2-year home value change: 10.15%
- Mean sale-to-list ratio: 96.25%
- Mean days to close: 27
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Brownsville
- August 2022 home value: $176,287
- August 2023 home value: $187,764
- August 2024 home value: $191,548
- 1-year home value change: 2.02%
- 2-year home value change: 8.66%
- Mean sale-to-list ratio: 96.44%
- Mean days to close: 24
College Station
- August 2022 home value: $282,625
- August 2023 home value: $295,212
- August 2024 home value: $298,313
- 1-year home value change: 1.05%
- 2-year home value change: 5.55%
- Mean sale-to-list ratio: 97.32%
- Mean days to close: 33
Amarillo
- August 2022 home value: $197,251
- August 2023 home value: $202,461
- August 2024 home value: $206,725
- 1-year home value change: 2.11%
- 2-year home value change: 4.80%
- Mean sale-to-list ratio: 97.61%
- Mean days to close: 32
Longview
- August 2022 home value: $206,744
- August 2023 home value: $214,461
- August 2024 home value: $214,992
- 1-year home value change: 0.25%
- 2-year home value change: 3.99%
- Mean sale-to-list ratio: 97.20%
- Mean days to close: 28
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Tyler
- August 2022 home value: $256,979
- August 2023 home value: $272,538
- August 2024 home value: $271,526
- 1-year home value change: -0.37%
- 2-year home value change: 5.66%
- Mean sale-to-list ratio: 97.29%
- Mean days to close: 34
Laredo
- August 2022 home value: $207,434
- August 2023 home value: $214,216
- August 2024 home value: $205,766
- 1-year home value change: -3.94%
- 2-year home value change: -0.80%
- Mean sale-to-list ratio: 97.18%
- Mean days to close: 28
Waco
- August 2022 home value: $255,082
- August 2023 home value: $255,193
- August 2024 home value: $254,793
- 1-year home value change: -0.16%
- 2-year home value change: -0.11%
- Mean sale-to-list ratio: 97.36%
- Mean days to close: 32
Corpus Christi
- August 2022 home value: $220,899
- August 2023 home value: $220,398
- August 2024 home value: $219,005
- 1-year home value change: -0.63%
- 2-year home value change: -0.86%
- Mean sale-to-list ratio: 96.44%
- Mean days to close: 32
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Lubbock
- August 2022 home value: $205,990
- August 2023 home value: $207,654
- August 2024 home value: $205,235
- 1-year home value change: -1.16%
- 2-year home value change: -0.37%
- Mean sale-to-list ratio: 97.54%
- Mean days to close: 33
Killeen
- August 2022 home value: $261,874
- August 2023 home value: $256,017
- August 2024 home value: $252,826
- 1-year home value change: -1.25%
- 2-year home value change: -3.46%
- Mean sale-to-list ratio: 97.70%
- Mean days to close: 35
Beaumont
- August 2022 home value: $171,855
- August 2023 home value: $165,241
- August 2024 home value: $163,530
- 1-year home value change: -1.04%
- 2-year home value change: -4.84%
- Mean sale-to-list ratio: 96.01%
- Mean days to close: 30
Houston
- August 2022 home value: $309,867
- August 2023 home value: $305,149
- August 2024 home value: $307,044
- 1-year home value change: 0.62%
- 2-year home value change: -0.91%
- Mean sale-to-list ratio: 97.87%
- Mean days to close: 30
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Dallas
- August 2022 home value: $383,563
- August 2023 home value: $372,047
- August 2024 home value: $372,632
- 1-year home value change: 0.16%
- 2-year home value change: -2.85%
- Mean sale-to-list ratio: 98.55%
- Mean days to close: 29
San Antonio
- August 2022 home value: $300,802
- August 2023 home value: $292,855
- August 2024 home value: $284,641
- 1-year home value change: -2.80%
- 2-year home value change: -5.37%
- Mean sale-to-list ratio: 97.15%
- Mean days to close: 31
Austin
- August 2022 home value: $547,850
- August 2023 home value: $476,350
- August 2024 home value: $454,003
- 1-year home value change: -4.69%
- 2-year home value change: -17.13%
- Mean sale-to-list ratio: 97.67%
- Mean days to close: 23
Methodology: For this piece, GOBankingRates looked at the 200 largest Metro Statistical Areas (MSA) according to real estate market and found the following ten factors. For each MSA GOBankingRates found: (1) 1-year percent change in home value; (2) 1-year change in home value in USD; (3) 2-year percent change in home value; (4) 2-year change in home value in USD; (5) For-Sale Inventory; (6) mean days from listing to pending; (7) mean list to sale ratio; (8) mean days from pending to close; (9) share of listings with a price cut; and (10) mean price cut. All data was sourced from Zillow’s June 2024 data. All ten factors were then scored and combined with the highest score being the worst housing markets. In final calculations, factors (1), (2), (9), and (10) were weighted 2x and factor (5) was weighted 0.5x. All data was collected and is up to date as of September 26, 2024.
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This article originally appeared on GOBankingRates.com: How Quickly You Can Expect To Sell Your Home in These 17 Texas Housing Markets
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