Is it a Good Time to Buy and Sell Real Estate in Austin?
The answer is yes! The numbers in the box are very indicative of what is going on in Austin during Covid 19.
Home sales are up 9% over a year ago with values increasing by 4% in the Austin – Round Rock Area.
Seldom has it ever been both a good time to Sell your home and a good time to Buy a home. With inventory at an all time low (note active listings were down 32% in June), the pressure for values to rise is undeniable. Multiple offers are the norm in most areas which is good for Sellers. Meanwhile current interest rates are at historically record low levels, in most cases <3%! These low rates allow Buyers to purchase ~$30,000 more house for the same house at a higher interest rate. That’s good news for everyone, especially first time home buyers! For investors who want to leverage their rental properties this means more positive cash flow.
New Home Builders are beginning to offer Buyer incentives. That is something that all but disappeared in the Pre-Covid Austin Area Market. We recommend New Home Builders for those who don’t mind living in the suburbs and can wait 6 to 9 months for a new home to be built or those Buyers who do not want to get into bidding wars in multiple offers on resale homes. Many of these new homes have the options that people are looking for in these pandemic times. Larger home offices, room to build a pool, large rooms upstairs for families to have some distancing or do home schooling and/or larger outdoor living areas to accommodate getting outside and maybe getting some more vitamin D.
There are lots of reasons to move these days. We work with folks that currently live in 2 story homes find single story homes, sometimes with a lower tax rate and/or newer updated features. We specialize in helping first time buyers, investors, Buyers looking for ”lock and leave”properties and new construction homes.
Whatever the reason for wanting to move, remember:
When you’re ready to move – we’re ready to help.
Austin HomePage Real Estate
David,Lori and Max