Austin Real Estate Market Update
Austin Market Update
We should all feel very lucky (or smart, whichever you prefer) that we live in Austin! The real estate market continues to be among the strongest in the country.
The latest real estate stats are no different.
Here are the 3 things that you need to know this month:
- It’s a great time to sell your home! We’re in the peak selling season with summer on the way. Typically, more buyers are in the market, so that helps you get top dollar for your home.
- All homes MUST be a great value. What does this mean? To sell your home for top dollar, it has to be priced right and look like the price you’re going after. Buyers are still picky (which is a good thing!!). A top real estate agent – like our team – knows how to make your home stand out, price it correctly and hit your goal of getting top dollar (last year, our Austin listings sold 102% of sales price).
- Buyers can still find deals. We’re serious… You just have to know where to look and what to look for. We are in the real estate market everyday looking at homes for buyers that we work with. Given that we helped over 100 families with real estate in the past year – we know how to get you into a great home!! Find out more about how we win with buyers here.
Call me today to talk about your current home and how we can work with you to hit your goals and move you to an even better home! 512-699-2984 is my (Kristen!!) cell phone.
Check out the infographic below for all the stats.
It’s a great time to be selling or even buying in Austin. We’re here to serve your friends and family!
Spring is here! Okay, that’s a cliche and overdone, yet the market is showing its spring blooms right now. As you’ll see in the infograpgh just below here, we’re still in a seller’s market and we’re able to get the homes we sale top dollar. It’s even more important now that the number of homes going up for sale is increasing in the spring season.
So, how do we do get our homes sold for top dollar? We know the specific strategies for giving a home the best opportunity to sell over asking price – for the most amount possible.
First off, we make sure that the home is ready to WOW buyers. Our personalized process includes consultations for marketing, prep & staging. We then suggest a price that will really entice the market to act. There’s a fine line between asking a high price for your home that will start a small bidding war and over pricing. Over pricing can cause a home to sit and then possibly have to reduce the price because buyers wonder why it’s been sitting. Seems strange, I know. That’s why hiring an experienced agent is beneficial – The Williams Team and I know the market of NOW. We list homes virtually weekly, so we know exactly what it took within the last month to sell a home and can then advise you on the best strategies for you home to sell for the most money and in the quickest time.
Looking at the Austin Board of Realtors report from February this year, the market trends are similar to previous months. Sales prices up from a year ago, volume only slightly up. Days on market is also up from this past year – showing that it’s taking a little bit longer for homes to sell at the higher prices they are commanding (thus our point above about being strategic to not allow your home to sit long without selling). We still only have about 2 months worth of inventory ending February, which indicates a fairly strong seller’s market.
February 2016 Statistics
- 1,783 – Single-family homes sold, 2.9 percent more than February 2015.
- $269,900 – Median price for single-family homes, 8.0 percent more than February 2015.
- $333,011 – Average price for single-family homes, 7.6 percent more than February 2015.
- 62 – Average number of days single-family homes spent on the market, three days more than February 2015.
- 2,793 – New single-family home listings on the market, 11.1 percent more than February 2015.
- 4,871 – Active single-family home listings on the market, 10 percent more than February 2015.
- 2,346 – Pending sales for single-family homes, 12.3 percent more than February 2015.
- 2.1 – Months of inventory* of single-family homes, 0.1 months more than February 2015.
- $593,758,953– Total dollar volume of single-family properties sold, 10.7 percent more than February 2015.
We are ready to assist you with all your real estate needs – be it buy, sell or invest. If you’re ready to search for your next home or see what’s happening in your neighborhood, go to our home search here. As always, contact here anytime and it will be my pleasure to assist you right away!
The Austin market is balancing a bit according to the latest stats from January, which is a great sign for 2016! Prices are still up, which is as expected. As we enter the spring, it will be a great time to sell a home. For buyers, finding the right home and making a solid offer is key. Of course, as real estate pros, The Williams Team know how best to find home in Austin and how to compete to win for our clients.
Check out the details of what going on in the Austin real estate market.
According to the Multiple Listing Service (MLS) report released by the Austin Board of REALTORS®, Austin-area single-family home sales dropped slightly in January 2016 compared to the same month the year prior. Home sales decreased by 1.9 percent year-over-year to 1,459 home sales and median price increased 6.3 percent year-over-year, reaching $254,999 in January 2016.
January 2016 Statistics
- 1,459 – Single-family homes sold, 1.9 percent less than January 2015.
- $254,999 – Median price for single-family homes, 6.3 percent more than January 2015.
- $322,620 – Average price for single-family homes, 3.8 percent more than January 2015.
- 56 – Average number of days single-family homes spent on the market, seven days less than January 2015.
- 2,399 – New single-family home listings on the market, 8.0 percent more than January 2015.
- 4,751 – Active single-family home listings on the market, 11.4 percent more than January 2015.
- 2,207 – Pending sales for single-family homes, 16.6 percent more than January 2015.
- 2.0 – Months of inventory* of single-family homes, 0.1 months more than January 2015.
- $470,702,965 – Total dollar volume of single-family properties sold, 1.9 percent more than January 2015.
At The Williams Team, we’re hear to provide you the service through any real estate market and are ready to help you buy, sell or invest in real estate.