The housing market in Sugar Land, Texas is quite competitive. Although home selling prices have been observed to be higher compared to last year, properties in Sugar Land receive 4 offers on average.
Sugar Land, Texas is a seller’s market. This means that there are more interested buyers than the available homes for sale. And because of the low inventory, only 179 homes were sold last June, down from 256 in the same month in 2021.
On average, the sale price of a house in Sugar Land in June this year was $460,000, up 17.2% year-over-year. The average homes were sold for about 2% above the list price and go pending in around 8 days. Hot properties were sold for about 6% above list price.
Average homes sold after 8 days on the market. Comparatively, it took 10 days for homes to sell during the same month last year. Read on for updates about the more recent real estate market trends in Sugar Land, TX.
Sugar Land, Texas Real Estate Market Trends
In July 2022, Sugar Land, TX remained to be a seller’s market. Year-over-year comparison reveals, however, that there were more homes for sale this year compared to the same month last year.
The number of residential properties for sale was 540 and the median list price was $499,900 in July this year. The median price per square foot was 173.
Comparing this with the 2021 statistics, there were only 56 homes for sale and the median list price was $598,995. The median price per square foot was 186.
The median days on market for homes in Sugar Land, Texas was 32 in July 2022 and 45 in 2021.
Check the tables below for summaries of the overall real estate market trends in Sugar Land, as well as the market trends for single family homes and condos/townhomes:
Overall Real Estate Market Trends in Sugar Land, Texas
|July 2022||July 2021|
|Median List Price||$499,900||$598,995|
|Median Home Size||3,101 square feet||3,343 square feet|
|Median Price Per Square Foot||$173||$186|
|No. of Homes for Sale||540||173|
|Median Days on Market||32||45|
Real Estate Market Trends for Single Family Homes in Sugar Land, Texas
|July 2022||July 2021|
|Median List Price||$518,990||$607,990|
|Median Home Size||3,143 square feet||3,456 square feet|
|Median Price Per Square Foot||$172||$185|
|No. of Homes for Sale||517||51|
Real Estate Market Trends for Condos and Townhomes in Sugar Land, Texas
|July 2022||July 2021|
|Median List Price||$276,888||$299,000|
|Median Home Size||1,283 square feet||1,068 square feet|
|Median Price Per Square Foot||$210||$279|
|No. of Homes for Sale||23||5|
|Median Days on Market||46||35|
Real Estate Property Taxes in Sugar Land, TX
Texas has no state property tax. Instead, real estate property taxes are assessed by the local county assessors. Sugar Land is a city within Fort Bend County, and so the property taxes of its residents are assessed and collected by the Fort Bend County Appraiser/Collector.
The average effective tax rate in Fort Bend County is 2.23% of a home’s assessed value. In Sugar Land, Texas, real estate property tax rate is $0.34650 per $100. The City Council adopted this tax rate last September 21, 2021. Compared to the previous year, this rate is one-cent higher.
The city’s tax rate is one of the lowest in the Lone Star State. Based on the 2021 tax survey by the Texas Municipal League, Sugar Land’s property tax rate is significantly below the average tax rate of 36 cities with populations over 60,000, which is $0.59 per $100.
Homeowners in the county pay around $5,198 on average each year in real estate property taxes. This amount is based on the median home value of $233,300.
Real estate properties are appraised beginning in January. Hour home’s value is assessed during this time based on current real estate market conditions where your property is located. The assessed value and your local tax rate are used to compute your property tax payment.
Note that regardless of the subdivision your property is located, the effective real estate property tax rate is the same. For more real estate property tax payment questions, you can call the Fort Bend County tax office at 281-341-3710 or send your inquiry via email at [email protected].
Frequently Asked Questions
Fort Bend County property taxes are due upon receipt and must be paid by January 31. However, you may choose to set up a quarterly payment plan with the tax office and pay your real estate property taxes on the following due dates:
- January 31
- March 31
- May 31
- July 31
The average effective property tax rate in Fort Bend County is 2.23% of a home’s assessed value. This is among the highest not only in the state but also in the country, about double the national average.
For example, based on the median home value of $233,300, homeowners pay approximately $5,198 in real estate property taxes annually.
The real estate tax rate in Sugar Land, TX is the same as the effective rate of Fort Bend County, which is $0.34650 per $100.
The real estate tax rate is determined on the county level, so it doesn’t matter whether your home is in Greatwood or Avalon in Sugar Land. The effective rate is $0.34650 per $100.
There are so many wonderful neighborhoods in Sugar Land, Texas and all are equally attractive in terms of real estate investments. Here are some of them:
- First Colony
If you’re in the market to invest in a real estate property in Sugar Land, TX, you’ll need a reliable and experienced real estate agent to provide you with all the important details in location-centered real estate transactions. I will be more than happy to show you all the best options in the area. Please contact me at 832-641-3727 or [email protected] to schedule an appointment or if you have any questions.