Summer Trends in Houston Real Estate: What to Expect in 2023

As we head into the summer of 2023, it's an exciting time to be a part of the Houston real estate market. Houston continues to be a hub for growth and development, with new businesses and residents moving in every day. This has resulted in a dynamic and constantly evolving real estate market. Here are some of the trends we expect to see in Houston real estate this summer:

Rising Home Prices

The Houston real estate market has been on an upward trend for several years now, and we don't expect that to change anytime soon. In fact, we anticipate that home prices will continue to rise throughout the summer of 2023. While this may make it more challenging for some buyers to find affordable properties, it also means that sellers can expect to receive strong offers for their homes.

Low Inventory

One of the biggest challenges facing Houston homebuyers this summer will be the low inventory levels. There are simply not enough homes on the market to meet the demand, which is driving up prices and creating a highly competitive market. For sellers, this means that now is a great time to list their properties, as they are likely to receive multiple offers and potentially sell their homes quickly.

High Demand for Luxury Properties

Houston is home to a growing number of luxury properties, including high-end condos, sprawling estates, and waterfront homes. As more affluent buyers move to the area, we expect to see continued demand for these types of properties. This summer, we anticipate that luxury home sales will be particularly strong, as buyers look for properties that offer both comfort and exclusivity.

Emphasis on Energy Efficiency

With rising energy costs and a growing awareness of environmental issues, many Houston homebuyers are prioritizing energy efficiency when shopping for properties. This summer, we expect to see an emphasis on homes that have energy-efficient features such as solar panels, high-efficiency HVAC systems, and smart thermostats. For sellers, this means that investing in energy-efficient upgrades can be a smart way to attract buyers and increase the value of their homes.

Focus on Walkability and Transit Access

As Houston continues to grow and develop, more residents are looking for neighborhoods that offer walkability and access to public transit. This summer, we anticipate that neighborhoods such as Downtown, Midtown, and The Heights will continue to be popular among homebuyers, due in part to their proximity to major employers, restaurants, and entertainment options.

Houston's real estate market is poised for another exciting summer in 2023. With rising home prices, low inventory, and a focus on luxury properties, buyers and sellers alike can expect a dynamic and competitive market. As a local Houston realtor, I'm here to help guide you through these trends and find the right home or buyer for your needs. Contact me today to get started!