When it comes to a hot housing market, Texas stands alone.
The Lone Star State’s population grew by almost 16% in the past ten years, but according to the Texas Real Estate Research Center, new housing is increasing at a much slower rate of 1.7%. Growing demand and lagging supply have made buying a house in Texas a fierce competition, but just how competitive are the top markets?
We broke down the most competitive ZIP codes in four of Texas’ biggest markets: Austin, Dallas-Fort Worth, Houston, and San Antonio. Read on to see which ZIPs took the top spots.
In addition to looking at the top 25 most competitive ZIP codes in Texas, we broke down the top ten most competitive ZIP codes in each city we examined. While Austin dominated our top 25 rankings, our market breakdown reveals steep competition for all four markets.
The level of competition in Austin becomes evident when looking at the top 10 most competitive ZIP codes. Each of these ZIPs made the state-level list, with only 78757 not making the top 10 most competitive ZIPs in Texas as a whole. Listings in Austin are on the market for a median of five days, so if you’re serious about buying that house, consider a cash offer — one-fifth of winning offers in this market are all-cash.
Check out Austin listings while they last.
Despite not placing in the top 25 overall, these Dallas-Fort Worth ZIP codes remain highly competitive. Over half of all listings in these ZIPs spend fewer than a week on the market. As a whole, Dallas-Fort Worth homes spend a median of only eight days on the market.
Browse homes for sale in Dallas-Fort Worth here.
Houston’s most competitive ZIP code placed 17th in our rankings overall, leading the market with share of homes sold within a week. Like the other markets examined, over half of listings in the top ten ZIPs in Houston sell within a week on the market. As a whole, homes here spend a median of 10 days on the market.
San Antonio is the second most competitive market out of those examined for this report, with San Antonio’s top competitive ZIP code, 78015, placing 9th in our rankings overall. Interestingly, though, San Antonio also has the greatest range in percentage of listings sold within seven days, with an 11% difference between the first and tenth place spots. Housing prices are also competitive in this market, with a median sales price of $315,529.
Check out San Antonio listings here.
To create this report, Orchard analyzed ZIP codes in Austin, Dallas-Fort Worth, Houston, and San Antonio with over 100 single-family home listings. Data was pulled from the MLS between January 1, 2022 and May 31, 2022. To calculate the most competitive ZIP codes, we compared the total number of listings with the number of listings that spent seven or fewer days on the market.
Trevor Patch, Manager of Data Science at Orchard, contributed to the data collection and analysis for this report.
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