Austin Real Estate Market Update for Fall 2018

 

Are you planning on selling a home in Austin Texas during fall 2018? If so you’ve come to the right place!

There’s no doubt that the last few years have been great for sellers because they’ve been able to enjoy little to no competition, and multiple offers, but times have changed and as of October 2018 it’s easy to see that the real estate market is slowing.

 

How can we tell that the ATX real estate market is slowing?

  • Weekly pending counts have been lower year-over-year for at least 4 consecutive weeks.
  • Inventory numbers are up and climbing – There are currently 9,796 active listings in the Austin Texas real estate market.
  • Seller concessions have increased – These can be anything from money to pay for closing costs or repairs on the home that the seller didn’t make before listing it.
  • Days on the market are climbing – Right now the average home is spending about 59 days on the market compared to 47 days during the same time last year.

Still a great time to sell your home

In spite of the recent changes, the average sales price is $367,585 and the ATX real estate market and is expected to grow by at least 3 percent in the next year.

The real estate market is still great for sellers but sellers are starting to compete with each other and this is something that we haven’t seen here for a few years.

Before you list your ATX home for sale make sure you follow these tips:

  • Remove the clutter.
  • Fix anything that’s broken or in need of repair.
  • Paint your home. This is by far one of the most effective ways to freshen up a home and make it feel inviting.
  • Don’t forget to focus on curb appeal by raking up the leaves, mowing your lawn and power washing the driveway/sidewalk before buyers arrive.
  • Stage your home by moving couches and furniture away from walls and removing some of the furniture that you’re not using on a regular basis from your home because this will help make your home feel bigger.

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Ready to list your Austin Texas home for sale? Contact me today by calling 512-944-7378 or connect with me through my website.

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