Austin real estate closed listings across the Austin-Round Rock-Georgetown MSA decreased 10.4% year-over-year with 2,591 sales. That left 4.9 months of available inventory, according to the latest Central Texas Housing Report. Active listings increased 15.4% year-over-year. The median home price dropped by 4.4% to $439,990 indicating more opportunity for buyers, though home prices need to decrease further to significantly impact sales growth across the region.
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Buyer’s remorse is real. We experience it all of the time in little ways. You cheat on your preferred brand of shampoo because of a sale and regret it the first time you use it. Bought a new shade of lipstick and your life didn’t change the way you thought it would? Participated in the latest diet fad, and only lost money? You live, you learn, you reboot – most of the time.
In real estate, buyer’s remorse isn’t that easy to wipe from your memory. Continue reading
Austin real estate closed listings across the Austin-Round Rock-Georgetown MSA decreased 3.5% year-over-year with 2,652 sales. That left 5.1 months of available inventory, according to the latest Central Texas Housing Report. Active listings increased 20.3% year-over-year. While inventory is high, remember markets are local. Sales increased outside of Travis County enough to keep the median sales price to $450,000, the same month-over-month.
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For home sellers entering the Austin real estate market today, the experience can be like deciding to drive for vacation on a holiday weekend.
It’s a great idea until you hit the road and realize how many others share that same thought.
Homeowners think ‘spring and summer are the right time to move and sell their houses. Due to affordability, current homebuyers think a staycation is in order. This has created quite the inventory traffic jam right now. The good news is that many sellers are ready to get off at the nearest exit, which creates an opportunity to negotiate for those buyers with cabin fever.
Add a swimming pool to the backyard and the story gets more interesting. Continue reading
AUSTIN, Texas —In June, closed listings across the Austin-Round Rock-Georgetown MSA decreased 13.4% year-over-year with 2,732 sales. That left 5 months of available inventory, the highest since 2011 according to the latest Central Texas Housing Report. Active listings increased 25.9% year-over-year. The amount of homes for sale coupled with elevated mortgage rates has tempered the median sales price to $450,000, a 6.3% reduction over June 2023.
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In any housing market, homebuyers ultimately determine value. Home prices go up in a strong seller’s market because the demand is high. In a buyer’s market prices come down when the supply is high and the demand is low. The Austin housing market is very value-driven right now. The exact formula factoring in how price, condition, and location are weighted is up to the buyer in any market. What’s different about now? The other factor you need is motivation and the lack of it presents a unique situation for buyers and sellers. Continue reading
AUSTIN, Texas —In May, closed listings across the Austin-Round Rock-Georgetown MSA decreased 12.8% year-over-year with 2,968 sales. That left 4.9 months of available inventory, which hasn’t been seen in 13 years according to the latest Central Texas Housing Report. Active listings ticked up 37.7% year-over-year. Because of this increase in available options, buyers have the power to be more selective when purchasing a home.
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