Red Wine and The Austin Real Estate Stats ~ Pull Up A Glass
Single Family Monthly Graphs
Note to readers: The Wise Assessment is posted every month. We post our stats later than other real estate companies because we want the most accurate numbers available…and this makes them worth waiting for! Other agents simply copy and paste graphs that they get from other sources and offer no opinions to the marketplace conditions. We track data in house and compare the market on a whole to what we produce internally in order to produce an opinion of the data and give our thoughts of what we are personally experiencing as a top company in Austin.
Keep reading for the written Wise Assessment and/or listen to our interpretations on our latest VLOG:
Sales are up…way up over January. How many homes will sell in April? If your guess is closest to the actual sales, our friends at Uncorked will give you a free bottle of wine to enjoy on their expansive outdoor patio. Submit your guess in the comments section below to win.
Overall Market Summary Report
|
Property Type |
Sales |
% Change Year Ago |
Dollar Volume |
% Change Year Ago |
Average Price |
% Change Year Ago |
| Single Family |
1,145 |
4% |
$279,778,460 |
5% |
$244,348 |
1% |
| Townhouse/Condominium |
131 |
52% |
$20,219,064 |
38% |
$154,344 |
-10% |
| Farm/Ranches |
32 |
33% |
$7,067,424 |
-29% |
$220,857 |
-47% |
| Multifamily |
28 |
12% |
$5,745,488 |
24% |
$205,196 |
10% |
| Lots |
90 |
20% |
$12,426,030 |
89% |
$138,067 |
57% |
| Commercial |
13 |
8% |
$3,216,772 |
-16% |
$247,444 |
-23% |
| Lease |
1,086 |
11% |
$1,308,630 |
9% |
$1,205 |
-1% |
| Commercial Lease |
14 |
27% |
$19,236 |
58% |
$1,374 |
24% |
The Wise Assessment
SELLERS: The weather is gorgeous, the flora is gaining color, and Austin is beautiful. As conditions in Austin continue to improve in the spring, so does the street appeal of most homes…and more and more homeowners put their homes up for sale. As this inventory of homes on the market increases, so does the competition to sell the homes. What this means to you is this: if you are planning on selling your home, you must prepare it to compete with all the other 9,855 homes on the market. Here are some tips to compete in today’s market:
- Find a great contractor – If there are improvements or repairs that need to be made to your home…complete them before you put your home up for sale
- Hire a professional stager – Ever walk into a model house and feel right at home? The builder hired a professional stager, and you should too!
- Price competitively - Ever wonder why homes sell in a few days, often for more than asking price? The home was priced correctly the very first day it went on the market.
- Promote aggressively - Intercept buyers where they begin looking for homes, and give them what they want ~ great photos, and lots of them!
Is This A Good Time To Sell? We are meeting with clients on a daily basis who are asking this specific question. Following is a general rule of thumb to help you determine if now is a good time for you to sell:
- Move-up: if you are selling a home and looking to ‘move-up’ or buy a more expensive home, the very best time to do this is when the market is down (like now)
- Move-down: if you are selling a home and looking to ‘move-down’ or buy a less expensive home, the very best time to do this is when the market is hot (not now)
While this is a good general rule to follow, your specific circumstances and needs must be considered before making a decision.
BUYERS:
Interest rates remain low.
Home prices remain low.
Inventory (choices) is high.
Why should I attempt to recreate what was brilliantly written in Krisstina Wise’s article The Real Dollars And Cents Cost of Waiting to Buy. This says it all.
Average Sales Price
The Average Sales Price in Austin continues to hover in the $245,000 range, and barring any outliers (homes selling for $50,000 or $10M), we anticipate the average sales price to remain steady and track the past years’ graphs.
Sales Closed by Month (Demand)
Hmmm…anyone else out there see a trend with the First Quarter’s sales? If the GoodLife Team’s sales for April are indicative of what is happing city-wide in the market, we anticipate another great spike in activity for the coming month.
In January there were just 853 single family homes sold in all of Austin, compared to over 1,625 homes sold in March. Anyone want to predict how many homes will be sold in April? We will provide a free bottle of wine at Uncorked to you if your guess is closest…post your guess in the remarks below.
Active Listings (Supply)
Have you noticed all the real estate signs popping up around town? The number of homes on the market has increased from 8,500 to almost 10,000 in just 3 months. As noted above, this is a cyclical trend that we anticipate every year in the industry. In fact, I wrote in December, “We are anticipating the inventory to increase drastically in early 2010, as the graph reflects for the previous years, so be on the look out for a greater number of homes on the market in the coming months.” Do not be surprised to see this number increase even more in the next 3 months, and may very well track last year’s bell curve.
Offers of Help
What Is My Home Worth? Want to get a good idea of what your home is worth … and find out right now online? Check out our Market Snapshot for an analysis of the value of your home.
What Is That Home Worth? “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.
What do I need to know before I sell? Typically when a home does not sell, there is one reason…and it isn’t price. We invite you to look at several key factors to consider before selling your home. Visit One Reason for more information.
BTW, We do have very specific data for every price range and area of town. 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.
The data provided to create these graphs are available to you by FREE subscription to our monthly update service. Please email us experience@goodlifeteam.com to receive your monthly update. Or, catch the wave and follow @GoodLifeTeam on Twitter.
experience@goodlifeteam.com| 512.892.9473 | www.goodlifeteam.com
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My guess is 1885.
I think it will trend somewhat higher than that; I will go with an even 2000.
2399