Looking to unlock the secrets to finding luck in today’s real estate market? Find tips for home buyers and advice for selling a home here. There’s been talk about the market slowing because it has. Talk about inventory growing because it is. However, it is important to note we aren’t quite in a market where a buyer is picking their neighborhood. Continue reading
Austin real estate news from Doreen for March is here. In February, median home prices dropped 12.2% to $439,419 year over year, according to the Austin Board of REALTORS® latest Central Texas Housing Report. Despite the price decrease, monthly housing inventory stayed relatively flat at 2.6 months of inventory from 2.7 in January 2023, demonstrating that this market is still in need of more housing as the industry standard is that six months of available inventory is considered a balanced market between buyers and sellers.
Spring is here. What the calendar says at the time you are reading this is irrelevant if you are planning to move. For those wanting to spring into the Austin real estate market to buy or sell – act like it’s already here because trust me when I say April will turn into August in about a minute.
To be clear, we have been in a seller’s market for years. I have no crystal ball to indicate that is going to change. In the end, spring makes people happy and shopping often does too. Continue reading
Austin real estate news from Doreen for February is here. In January, median home prices dropped 6.3% to $450,000 year over year, the largest price drop since July 2011, according to the Austin Board of REALTORS® latest Central Texas Housing Report. Despite the price decrease, monthly housing inventory stayed flat at 2.7 months of inventory from December 2022, demonstrating that this market is still in need of more housing as the industry standard is that six months of available inventory is considered a balanced market between buyers and sellers.
Moving to Austin? Moving within Austin? Let’s define where because Austin doesn’t mean the same thing to everyone anymore.
Over the years moving to Austin has not only expanded in height in terms of condo towers, but it has spread out in terms of landscape. The city of Austin has a defined border. Geographically, the 2020 U.S. Census defined it as almost 320 square miles. When Austin is referred to as an area, instead of a city, we start to enter a gray zone. Continue reading
Austin real estate news from Doreen for January is here. In 2022, the median price for a home in the Austin-Round Rock MSA set a new annual record of $503,000, according to the December 2022 and Year-End Central Texas Housing Market Report released by the Austin Board of REALTORS®. Despite this record, the housing market continued shifting towards buyers as home sales declined and inventory increased, with homes on the market for 31 days, 11 days more than in 2021.
Are you looking for Austin homes for sale or on sale? You can find both types in any home search but they are very different. Price adjustments are consistent right now because homes don’t enter the market at the same time. Some were listed in August, others joined in September, and more were placed on the market yesterday. The August market was trying to rekindle the gold rush of home prices from the spring and winter months. August is also six months old. The September market doesn’t mean much today either. What matters is now which is why many home prices are decreasing.