While the housing market remains challenging for many buyers, there’s a glimmer of hope. As peak homebuying season kicks off, some Texas counties are seeing a shift in favor of buyers, with homes selling below list price.

Soaring Mortgage Rates and Home Prices

The past year has been tough for homebuyers. Mortgage rates have climbed to levels not seen in over a decade, significantly impacting affordability. Coupled with rising home prices, this perfect storm has made it challenging for many to enter the market.

A Shift in the Market

However, there are signs of a potential shift. Some Texas counties are now experiencing homes selling below their listed prices. This could be a positive indicator for buyers who have been feeling squeezed.

Texas Counties Where Homes Sell Below List Price

Stacker analyzed data from Redfin to identify Texas counties where homes are consistently selling below their asking price. Here are the top 15:

#1. Potter County

– Average price difference: 8.31% below list
— Median list price: $175,000
— Median sale price: $196,000
– Total homes sold: 115
— Share that sold above list: 0.0%

#2. Ector County

– Average price difference: 6.19% below list
— Median list price: $289,945
— Median sale price: $279,000
– Total homes sold: 170
— Share that sold above list: 0.0%

#3. Smith County

– Average price difference: 4.61% below list
— Median list price: $359,900
— Median sale price: $320,000
– Total homes sold: 230
— Share that sold above list: 1.3%

#4. Jefferson County

– Average price difference: 4.45% below list
— Median list price: $199,900
— Median sale price: $196,500
– Total homes sold: 150
— Share that sold above list: 2.7%

#5. Henderson County

– Average price difference: 4.27% below list
— Median list price: $339,997
— Median sale price: $299,900
– Total homes sold: 108
— Share that sold above list: 8.3%

#6. Hunt County

– Average price difference: 4.05% below list
— Median list price: $305,232
— Median sale price: $301,740
– Total homes sold: 168
— Share that sold above list: 8.9%

#7. Waller County

– Average price difference: 3.72% below list
— Median list price: $393,900
— Median sale price: $382,930
– Total homes sold: 144
— Share that sold above list: 9.0%

#8. Cameron County

– Average price difference: 3.59% below list
— Median list price: $309,499
— Median sale price: $275,000
– Total homes sold: 226
— Share that sold above list: 2.2%

#9. Gregg County

– Average price difference: 3.46% below list
— Median list price: $299,900
— Median sale price: $261,990
– Total homes sold: 100
— Share that sold above list: 0.0%

#10. McLennan County

– Average price difference: 3.44% below list
— Median list price: $319,950
— Median sale price: $303,880
– Total homes sold: 231
— Share that sold above list: 0.9%

#11. Hidalgo County

– Average price difference: 3.15% below list
— Median list price: $275,000
— Median sale price: $240,000
– Total homes sold: 365
— Share that sold above list: 18.1%

#12. Fort Bend County

– Average price difference: 2.96% below list
— Median list price: $410,000
— Median sale price: $369,000
– Total homes sold: 957
— Share that sold above list: 12.4%

#13. Montgomery County

– Average price difference: 2.95% below list
— Median list price: $353,690
— Median sale price: $320,240
– Total homes sold: 1,252
— Share that sold above list: 10.9%

#14. Rockwall County

– Average price difference: 2.90% below list
— Median list price: $482,486
— Median sale price: $435,000
– Total homes sold: 178
— Share that sold above list: 14.0%

#15. Galveston County

– Average price difference: 2.89% below list
— Median list price: $399,000
— Median sale price: $349,600
– Total homes sold: 493
— Share that sold above list: 13.6%

What Does This Mean for Buyers?

While these counties offer some potential opportunities for buyers, it’s important to remember that the housing market can vary significantly by location. Factors like job growth, local economy, and inventory levels can impact pricing trends.

For those looking to buy a home, it’s crucial to work with a knowledgeable real estate agent who can provide insights into specific market conditions and help you navigate the buying process.

Texas Mortgage Genius Can Help

Whether you’re buying your first home or refinancing, Texas Mortgage Genius is here to assist you. Our team of experts can help you secure the best mortgage rate and terms to fit your financial goals. Contact us today at info@texasmortgagegenius.com or call 281-674-7300 to get started.

Let us help you achieve your homeownership dreams!