Just ten years ago, buyers had many more options when looking to invest $200 K in the Austin real estate market. The median sales price of residential homes in 2008 was only $192,000.
The Best Time To List Your Austin Area Property
| Often times my Austin clients ask me when is the best time to list their property. This is a complex question with no one size fits all answer. First, it depends on your needs. Some clients may not even have the luxury of asking this question. For example, if you are relocating for work and need to sell your house in order to purchase a new one, your options are much more limited. |
That being said, there are certain times of year where home owners tend to see higher sales prices. Families are often searching for homes in the spring. This is because they would prefer to move in the early summer and not disrupt the children during school year.
I recently looked at the price fluctuations for condos located in downtown Austin and near the University of Texas during 2016. Interestingly, I found that these types of properties sold for the most amount of money in November. Alternatively, the best time to purchase a condo in this area last year appeared in mid-March. I would hypothesize that these trends are similarly due to a correspondence with school calendars. Many investors and parents want to purchase these properties to rent to UT students. While you can get a great value in March, many students leave town for the summer break, and it will be more difficult to rent the condo.
Another important component to this equation is inventory. Traditionally, we see more homeowners listing their properties in the spring. This is often due to one or both of the items noted above. The client believes she will be able to list her home for a higher amount in the spring, and/or she wants to move her family when it is convenient.
Thus, often times there is limited inventory during the non-peak selling seasons. When there simply are not any homes like yours on the market, you may want to consider selling your home. Determining the best time to list your property is not black and white.
Contact a real estate professional to assess your property. We can give you an in-depth analysis on when's the right time for you!
Erika Rae Albert is an Austin native who has built her business around one guiding principle, YOU always come first. Prior to joining the real estate industry, she honed her her customer service s....
Latest Blog Posts
If you’re preparing to put your home on the market, you are probably staying busy cleaning, de-cluttering, and starting to pack. You may also find time slipping away from you as