Keep reading for the written Wise Assessment and/or listen to our interpretations on our latest VLOG:
Single Family Monthly Graphs
Overall Market Summary ReportProperty Type | Sales | % Change Year Ago | Dollar Volume | % Change Year Ago | Average Price | % Change Year Ago |
| Single Family | 1,780 | 6% | $431,530,740 | 7% | $242,433 | 0% |
| Townhouse/Condo | 194 | 24% | $34,920,194 | 7% | $180,001 | -14% |
| Farm/Ranches | 30 | -14% | $9,589,800 | -51% | $319,660 | -43% |
| Multifamily | 30 | -32% | $6,468,840 | -25% | $215,628 | 10% |
| Lots | 102 | -20% | $8,590,950 | -45% | $84,225 | -32% |
| Commercial | 11 | -52% | $3,390,002 | -64% | $308,182 | -25% |
| Lease | 1,112 | 12% | $1,401,120 | 10% | $1,260 | -2% |
| Commercial Lease | 14 | 40% | $21,812 | 30% | $1,558 | -7% |
- SELLERS: The supply (Active Listings) continues the seasonal decline but has an additional thrust behind it…demand (Sales) has leveled off and may actually climb next month. As we approach the holidays and the traditional seasonal decline in supply continues, while demand remains the same; we can anticipate the sales price to remain relatively steady or even begin to tick upwards (whereas we traditionally experience a decrease in prices).Are you interested in selling your home right now? Well, we have very good news for you: for the first time all year, the number of sales (demand) is more now than it was just 1 year ago. What this means is that more homes are selling right now than last year, and we are even experiencing very rapid sales cycles (homes are selling quickly) and our sellers are receiving multiple offers on many of our properties within the $125,000 – $250,000 price range. Additionally, if you are selling a home and buying a more expensive home (aka a Move-Up), this is a perfect time to make a move! Read Krisstina’s Housing V conversation for details.While this is great news for most of our sellers, we must also keep in mind that the overall market is still down over the past few years. So, if you bought your Austin home in the past few years and are selling it today, your home is most likely worth less than what you paid for it – not worth more. That means you will not be selling for a profit but for a loss. To learn more about pricing your home, read Krisstina’s article, “Are You Still Living In A Bubble“.What Is My Home Worth? Want to find out now what your home is worth in today’s market? Check out our Market Snapshot.
- BUYERS: What are you waiting for? This is NOT a rhetorical question! To buy or not to buy…now THAT is the question! Do I buy just to take advantage of the first-time homebuyer credit, or do I wait for my 401-K to recover fully? Have we hit the bottom yet? These are all great questions and ones that we hear from buyers on a daily basis. While everyone’s specific situation differs and we highly recommend a personal consultation to address your specific concerns, the fact remains that we are in the midst of The Perfect Storm for buying a home. Interest rates and housing prices remain low … and this means that mortgage payments are lower now than they have been in years. What are you waiting for?”Stop the car, honey … look at that house. I wonder what it’s worth?!?” Does this ever happen to you? Ever wonder what that house is worth? Find out now What That Home Is Worth.
- Property Virgins (aka First-time Homebuyers): Did you miss the great opportunity to take advantage of the $8,000 tax credit? Is that the ONLY reason you would be buying right now? Coupling The Perfect Storm with This Limited Time Offer certainly offered many buyers an opportunity to buy a home when they would have otherwise been confined to living in an apartment. However, there are other ways to gain access to $8,000 through negotiating terms with sellers who are motivated to sell. If you are interested in buying but not quite sure if you can afford to venture into the Storm, call a highly-qualified and accomplished real estate professional to discuss your options. Click here to chat online with one of our specialists now.
Sales Closed by Month (Demand)Imagine this: it is 108 degrees outside, we are in the middle of one of the worst droughts in history, and you are thinking of buying a house…as long as you don’t have to go outside! I don’t care how much you love your Austin real estate agent or how nice their car is; when it is miserable outside, you do not want to leave the air conditioning. Couple that with an uncertain stock market and doom and gloom in the national media and what you get is a slow summer buying season. Now imagine the weather cooling down, your portfolio recovering, an unprecedented $8,000 tax credit coming to maturity and the national media focusing on balloon boy. And wait, there’s more – interest rates and housing prices remain low. What is the outcome? See the chart above for yourself and you will notice that demand actually increased in September. And if the activity at The GoodLife Team is any indication of the market trend, October will be very strong as well.
Active Listings (Supply)We are entering a season when demand for homes traditionally decline to an annual low, so sellers decide to wait for spring to put the home on the market. However, sales are up. Inventory is being absorbed at an increasing rate by the increase of buyers in the market. Supply is declining. If you are thinking of selling in the next 12 months, you may want to consider now as a perfect time to put your home on the market. You will have less competition and more demand for your home … just make sure you get expert help from qualified real estate professionals to design a thorough strategy to get the most amount of money in the least amount of time. 
Average Sales PriceAs the demand for homes in the market has increased and supply continues to decline, the prices of homes, on average, have leveled off. Prices may actually increase if we continue to experience increasing demand and falling supply. In fact, we are beginning to help many sellers navigate their way through multiple offers! What this means is that we are generating so much demand for Austin homes for sale between $125,000 and $250,000 that multiple buyers are submitting offers to purchase the home. … and we are quite often getting our sellers more than our asking price.Want specific data pertaining to your neighborhood or your own home? We have it! Please let us know if you would like a neighborhood-specific analysis by emailing us at experience@goodlifeteam.com or calling us at 512.892.9473.Simple Summary
Want to sell your house more quickly than your competitor?
Get really good help from proven professionals
and
Price your house accordingly.
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