Austin Market Update: We're Normalizing
The first half of the year numbers for 2017 are in and the key word is "normalizing." The Austin market is still up from last year - just not as much is in pervious years. Home sales are are up nearly 3% and home prices are up around 6%.
These are good numbers, which most markets would be happy to report. In contrast to the trend of Austin, it's lower. Again, the market is normalizing.
What does normalizing mean? It means that homes are not selling as fast, in general. Buyers are increasingly value-centric and that the aesthetics of a home must meet or exceed its price. Of course, when you and your friends & family choose to work with us, you'll have the confidence that a buyer will find the value in your home!
If you're a buyer, you might have increased options depending on your parameters. Yet, you must be ready to move on the right home, as we still see multiple offers. Our team are experts at finding and negotiating the best value for you!
So what's this mean for you?
In short, it's a great time to be in the real estate market! Sellers are getting top dollar for their homes. Buyers are able to find value in the home they buy. Normalizing is indeed great for our market. It helps to ensure that our prices don't increase too much, while not losing value.
As always, we're here to help you navigate the market of today and sell your home for more money in half the time AND to make sure your next home is within your reach!
Take a look at the Austin Board of Realtors Infograpgh here for the month of June. Note that this is only for June, not the first half of the year.
If you have any questions about the market or even what your home might be worth, please call, email or even text anytime!