Renovations Complete – How is the Austin Housing Market

Having thought about selling your home back during the winter months, you’ve fenced yourself in with some exotic wood from Timbertown Austin and put in a new ipe deck to boot. All the renovations have been completed, a realtor has been retained and the “For Sale” sign is proudly waving on the front lawn.

It’s time to move-on.

Guess what? NOW is the perfect time to sell your home in Austin.

Interest Rates

While we’re starting to see mortgage rates slowly creep upwards, the Austin housing market is on fire. Just take a look at this chart from Reilly Realtors for the lowdown:


It’s not merely that homes are selling like hotcakes. The average price is soaring also. Rising 10% over the past few gloomy housing market years to a staggering price of $197,900.

This Guy Should know

According to a report on KVUE, Leondard Guerrero from the Austin Board of Realtors says, “A particular property might have two, three, even four separate offers on it, and it’s up to the seller at that point to decide which offer is the one that best gives results for them.”

He went on to say that usually places are currently sitting on the market for an unprecedented 70-days, a couple weeks less than last year at this time. The only downside is actually good news for sellers. The availability of properties is running dry. Translated: It’s a seller’s market.

In another article, Cathy Coneway, who is the 2013 Chairman of the Austin Board of REALTORS adds, “Strong demand for Austin homes continues, but the number of listings on the market remains consistent. This has led to steady increases in price while keeping housing inventory at record lows.”

Breaking It Down Further

It’s not only homes that are reaching a boiling point. Same goes for condos and townhouses. Looking back a few months, these types of properties are selling at a rate 31% higher than just a year ago. Price-wise: the average cost for condos was $187,000. That’s up 9% from the same month in 2012. The upshot is that properties like these are on the market 27% shorter in time, too — about 67 days.

Then there’s leasing. The Austin Board of Realtors cites that in early spring, nearly 1200 properties were rented — a 5% increase from last year.

So, the bottom line is: If you haven’t added value to your home by purchasing some type of outdoor living space enhancements, now is the time. Come over to Timbertown Austin to see what you can do to further increase the worth of your home if you plan to put it on the market. We can’t sell your place, but we can make it easier for the new owners to sign on the dotted line.

Original Source:

Leave a Reply