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: 761 About Erika: ...
Trust eXp Realty and our team of real estate agents to help you find homes for sale or to sell your current home. We recognize the level of service that the mobile consumer demands. You have information. You have dreams. We possess experience, integrity, and innovation. Together we create leverage to make your dreams a reality.
A popular Dripping Springs vegan bakery/ cafe just received some
"I couldn't have found a better realtor. I looked for a house for more than 6 months and after having a handful of houses swept out from under me within hours, when she found this house she contacted me within minutes, had all the paper work filled out and the phone number ready to call the minute we looked at the house. The market in Austin is vicious and frustrating and Tammy did everything in her power to lighten the load on my shoulders and fight for the house I really wanted. My house was on the market for less than 3 hours!! I would highly recommend Tammy Spracklen to anyone looking in the Austin area!! In fact I think you would be disappointed with anyone else!"