The Austin Real Estate market continues to move along at a rapid pace. We currently are hovering around 6,000 active listings (Single Family, Condo) in the Austin Metropolitan Statistical area which makes Austin a seller’s market. A balanced Austin market would have about 12,000 listings. The new year has brought us 3,422 new listings in January and just under 2,000 sales for January which is slightly above last year. The average sold price for January 2020 was $368,085 and the average days to sell was 61.
Buyers in the Austin market are finding out that the they must be prepared and have a sense of urgency if they want to be able to find the ideal home in the right location. It is necessary for them to have their financing in order and be willing to tour homes as they hit the market otherwise buyers run the risk of missing out.
Currently we have 4,872 homes in the Austin market that are pending. 31.71% of those homes went pending within the 1st 7 days on the market and 43.28% went pending within 20 days of being on the market. Another amazing statistic is that 40.11% of the homes that went under contract were built in either 2019 or 2020 which indicates that buyers are moving to new communities in the suburbs.
For those looking to sell, the current market gives them the chance to sell at attractively increasing prices. We know that there is much more to selling a property than recommending an asking price and marketing it to buyers. We guide you every step of the way, from advising on how to best present your property, to negotiating the sale and cooperating with buyers and their representatives.
If you are looking to make a move in the future, please feel free to reach out to us and allow us the privilege of finding your next home or your 1st home.