Spring is upon us, and one thing is for sure, the Austin Real Estate market is starting to heat up! Homes that are going on the market are selling a lot faster than in the previous months and years, so it safe to say that we are still in a seller’s market.
According to recent statistics from the Austin Board of REALTORS in January 2015, the median price of home sales in Austin metro has increased by 13% to $240,000. The average home price increased 14% to $310,000. The average days on the market for homes has remained unchanged at 63 days. Over 1500 homes were sold in January 2015, which is an 11% increase from January 2014. Typically January is a slower month for Real Estate sales, but this year has proved otherwise!
What this means if you are a buyer:
The supply of homes for prospective buyers continued to shrink, which means the less inventory available, the higher the prices may go. Home prices have been creeping up amid heightened demand for housing and a shrinking supply of both resale and new homes, experts say. The local market had 2.2 months of inventory in January 2015, which is slightly up (0.2) months to be exact, but still well below the 6.5-month inventory level the Real Estate Center at Texas A&M University cites as a balanced housing market. Inventory is low – which means demand is HIGH.
That means once you find the home for you – do not hesitate…put an offer in! Chances are that someone else has already spotted the home and is ready to make an offer. Remember this, the house you looked at today and want to think about is the same house someone else saw yesterday and is also thinking about purchasing, so don’t wait too long or your dream home will be gone!
You can reach any of our local Agents at 512-650-2772 or at firstname.lastname@example.org. Don’t forget to check out our website to search for your next home at ww.austin.uprealtygroup.com. We are your Austin, Pflugerville, Round Rock, Cedar Park, Georgetown, Kyle, and Buda Real Estate experts and would be glad to help you buy your next home in these areas!
What this means if you are a seller:
If you are even remotely thinking of selling – now is the time! This is the selling season for Real Estate, so don’t wait until it’s too late. Interest rates are still low, rent is still high, and buyers are out there. That combined with this upward swing in home sales can equal a quick sale for higher dollar for your home. The goal is to sell your home quickly and get top dollar for your sale, right?
Typically, the market starts “heating up” around the beginning of Spring and continues throughout the summer. We are already seeing increased activity in the market, so we can only imagine how crazy it’s going to be for buyers and sellers this season. If you are on the fence about selling your home, now might be the right time to start considering your next move.
Want to hear how quickly our listings have been selling? Our latest listings have sold within 2 weeks of being on the market and sold for full asking price! Of course, not all situations will be the same, but the market is favorable to sellers wanting top dollar for their home.
Would you like a free home evaluation to see what your home is worth? We offer our sellers a free market analysis to show just how easy it can be to sell your home in this market. Call or email UP Realty to schedule your consultation! You can reach any of our local Agents at 512-650-2772 or at email@example.com. Don’t forget to check out our website to search for your next home at www.austin.uprealtygroup.com. We are your Austin, Pflugerville, Round Rock, Cedar Park, Georgetown, Kyle, and Buda Real Estate experts and would be glad to help you sell your next home in these areas!