The summer home selling season is sizzling in Austin real estate news. Market activity set an all-time sales volume in May reaching $1.2 billion, according to the May 2017 Central Texas Housing Market Report released by the Austin Board of REALTORS®. By the numbers, May 2017 single-family housing market statistics in the Austin-Round Rock Metropolitan Statistical Area showed 3,170 Single-family homes sold, which was 9% more than May 2016. The median price for single-family homes was $310,000, an 8% increase over May 2016. The average time on the market was 43 days homes, which was one day less than May 2016.
Austin is Weird
The key to this market for a buyer is flexibility in terms of location and a solid understanding of budget. Austin is weird and the beauty of that is having a wide variety of home styles to choose from, in a unique mix of neighborhoods.
The key to this Austin real estate market for sellers is also understanding that their home is also unique right now. In some neighborhoods, there may be only one house for sale in a particular price point. This creates a sellers’ market and an opportunity. The Austin housing market has buyers searching within a larger map area these days because of the lack of inventory and will keep looking elsewhere if the home does not show well.
Sellers are representing the neighborhood.
Keeping the house clean and cool in the summer are two of the easiest ways to welcome a buyer, show pride of ownership, and now-a-days represent the neighborhood.