As you might expect, April is already off to a good start for the Austin real estate market. Thus far, the median sales price for residential homes in the City of Austin is $390,000. Another good indicator of the market is how long a property was listed before it went under contract; these properties were on the market for an average of 35 days. Keep in mind, this number is an average. Oftentimes, these properties are going under contract way more quickly; the median days to sell was 7. This means a number of properties are going under contract in the first day or two of being listed. These stats are based on approximately 2,700 April residential sales in the City of Austin.
What does this mean for you? Well, if you are considering selling your home, now is likely the time! Historically, residential homes in Austin sell for the most money in May or June. I looked at data for residential sales from the past 5 years for Austin homes and found that every year Austin properties sold for the most money in the least amount of time in either May or June. If these properties are selling in May or June, that means the properties are going on the market this time of year. Lenders usually need at least 21 days from the time a property goes under contract until the closing day.
If you are thinking of buying, you should know this may be a more competitive time to purchase. Depending on where you are looking, and what your price range is, you may encounter multiple offer situations. This is when a number of people are interested in the same property and they all submit offers creating a bidding war. However, this doesn’t happen everywhere or with every type of property.
If you are considering buying or selling, give me a call today so that we can discuss the pros and cons for your unique situation.
Author:Erika Albert Phone: 512-779-7597 Dated: April 18th 2017 Views: 797 About Erika: ...
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It’s that time of year again! If you purchased a primary resid
"My family and I recently moved out of Austin and Jason Palos was our realtor who helped us sell our Austin home. Initially, we got in touch with him to help us put the home on lease and manage it while we are away. Soon, we decided to sell it instead of leasing it out and Jason made the whole process absolutely seamless. He prepared the home for sale and had open house over the weekends. He promptly updated me on how the response was during the open house and thereafter. Not being locally in Austin, I was kind of concerned how things would work. Jason made it very easy. He was always responsive to phone calls and emails and would take the time to explain things in detail so that I understood what was happening. We were able to enter into a contract within 2 weeks of putting the home on sale.
During our move, I accidentally packed some of the critical documents like the survey that ended up in storage, where I didn’t have any access. Jason was kind enough to contact the title company that I used when I bought the home to arrange for a copy of the survey to keep the process going. He did a fantastic job of constantly updating where we are in the contract and what to expect next. There were no surprises at any point!
In a nutshell – Jason is very easy to work with – responsive and detailed. He will be the go to person if we ever decide to buy/sell a home in Austin. I would gladly refer him to my friends and family as well.""