It’s pretty crazy out there if you are trying to buy a house in Austin right now. Earlier today the Austin Board of Realtors released the March 2014 stats for the Austin housing market. We are in a DEEP seller’s market. What does that mean, Exactly? Let me tell you a story…
I have some very well qualified clients who are looking for a house in Avery Ranch, Brushy Creek, Twin Creeks or something similar. These guys have a budget in the mid 400’s but can go higher (they both work in high-tech, and have great salaries), but they want to keep some money for traveling and to keep up their lifestyle. OK. No problem. I can handle this, or can I?
The first thing I do is turn to the free, easy to use Austin Real Estate Search on my site (where you never have to enter your email or phone number to register). In the past, I’ve been able to easily find them a dozen homes that would meet their criteria. We would head out for a weekend or two, find a great home, make an offer, and put down a contract.
This last month everything I’m used to has been turned on it’s head. It’s like we are in California right now. I get a text that there is a new property in one of these neighborhoods, and I call my clients to let them know. We head out in the early evening after they are done with work, and have to wait for 2 or 3 groups before us to go through the house. They are waiting in line to get in. Like an amusement park ride.
Then when I get inside, there is a stack of ten or more realtor’s cards on the counter. The place had had a dozen showings and it hasn’t even been on the market for 24 hours. When we are done, I call the listing agent, and there are 2 offers already in. They are asking for Highest and Best. And it’s only been a day.
If you are a seller, this is just what you want. A fast sale for the maximum purchase. But if you are a buyer, be ready! I have some tricks and tips that can help you – let me know if you are interested in them.
Now on to the numbers…
Click to Tweet this – Austin Real Estate Statistics and Infographic for March 2014
Austin Real Estate Stats
According to the Austin Board of Realtors:
- Home sales are up 6% year-to-date when compared with the March of 2013.
- The median price of a house in the Austin area is also UP 5%.
- Homes took an average of 51 days on the market to sell, a decrease of 13 days from last year, even in this usually slow beginning of the year period.
- There are only 2.1 months of inventory, (a balanced market has a 6 month supply). this means there isn’t a huge selection of homes to view if you are looking.
What is amazing to me is that there are so few houses on the market right now, as we enter the busiest time of the year. Spring is the time when the most homes come on the market, and we have the fewest available in history, and the most people looking, ever.
What this means is if you are selling, you home will sell quickly. If it doesn’t, you need to call me.
If you are buying a house, you may experience multiple offers, and having to bid more than the property. I can help you if you have questions about the process. Also, be sure to use the same Austin Home Search that Realtors use.
Strategies for buying a house in Austin
If you are thinking about moving to Austin and buying a house, you could have some competition, depending on your price point. There are lots of great tools to help you find a house these days, including Zillow, Trulia, or Realtor.com. But once you find the house of your dreams, you need a strategy to get it, and that’s where I come in. I’ve got proven, winning, negotiation strategies that can help you get the house you want, for the best price, and with the least amount of hassle.