According to the Austin Board of Realtors, there has been 18 straight months of home sales, an increase of 23%. What wonderful news, our sellers will be looking at a Seller’s Market due to lack of inventory, prices have come close or have already bottomed out, seller’s have equity in their homes after 5 years of housing decreases.
Buyers have some confidence in the housing market, interest rates are still very low and they do not have to be scared of losing equity in the new home that they just purchased.
The statistics show that the price range of $220,000 to $350,000 is still the average price for homes in the general market, but an interesting fact, the Spicewood area, 4 homes out of 23, (Aug, 2012 to Jan. 4, 2013) sold in the $1 mil. price range and higher, and 3 of them were for cash. 4 of these were Lake Travis waterfront, this shows a major change from the last year, all for the better. These statistics are for west of the Pedernales River.
Buyers, do not wait for the Seller’s Market before you look for your new home, it does take a while for our market to catch up with the national statistics.
Call, Cindi Darragh-Leech, 512.715.2695, firstname.lastname@example.org