Right now, Austin
has an 6.21 supply of homes. This
means that if you took all the homes currently for sale--10,303. And divided by all the homes that sold last month—1,660. You get a 6 months supply of
homes. Theoretically, if all the homes on the market were to sell and no more
homes came on the market, it would take around 6 months to sell them all. This
is a balanced market. Typically, if
there is a supply less than 6 months, it’s a seller’s market. 6-7 months is a balance market and anything over
that is a buyer’s market. After talking with fellow Realtors around the country, we have found that this is no typical. Most markets across the United States are working with a 8-9+ month's supply of homes. Many experts believe that the government incentives are keeping the market moving. Once these are gone (in 3 days), we will really see what our economy is made of.
Look at the charts below to see how different areas and
prices ranges around Austin
are doing.Don’t forget that all real
estate is local. Meaning, you can’t judge how homes are selling in one
neighborhood, or price range for that matter, and judge an entire market by
it. That is why, when we sit down to help price your home, we not only discuss
your home’s value specifically by how your neighborhood is selling, we also
talk about how your target price range is selling. Very valuable information if
you want to be well positioned in the market.
Submitted
by Patrick Birdsong , West
Austin Properties, 512-345-1252 or homes@westaustin.com.
Comments