Market Stats Austin Texas / October 2021
Highlights For October Home Sales
So, you’re thinking about moving to Austin Texas or living in Austin Texas and wondering what’s happening with the Austin Housing Market? The Austin housing market is definitely something you’ll want to understand before considering a move.
So, each month I’m going to offer you a 50,000 ft video glimpse into the housing market. Because every zip code, neighborhood and street housing prices and values will differ, the goal of this video is to share the trend in Austin Texas house prices. And, ultimately I’ll be creating videos about What Your Money Will Buy You In various areas moving ahead. While I sucked at math beyond high school algebra, what I do know is that the numbers are exceptionally important when you’re thinking about moving.
- Total sales are down -18.4% in the metro and -21.8% in the city over Oct 2020
- City of Austin saw an Average Appreciation of +12.1%
- The 5-County area saw Median $/SF of +36.4%.
- All other appreciation numbers in both the city of Austin and the metro were in the 20-30% range
What does this mean?
Now that we’re comparing Year Over Year numbers with the fall of 2020, barring any unforeseen actions from The Fed which continues to buy Treasuries and Mortgage Bonds, thus helping to keep mortgage rates low. Markets are now prepared for the Fed to begin reducing bond purchases in November, and to continue reducing them into 2022.
We’ll put a microscope on upcoming sold housing price numbers and appreciation in Spring 2022. All things being equal they will be an indicator for Austin’s “new housing sales and price normals”.
If You’re A Buyer:
The fall and winter markets almost always provide buying opportunities! Repeat. Buyers, if you’re considering moving to Austin, Texas Buying an investment property in Austin, Texas we anticipate buying opportunities. Why? Because there are generally less Buyers or less competition to purchase the houses that are for sale. If you have the time and motivation to search for your new home through the remainder of this year, we may be able to negotiate a more attractive purchase price than you will find in the spring. The spring will offer more houses to buy and more Buyers to buy them.
If You’re A Seller:
Homes sell 364 days a year and fall/winter pricing remains strong. Sellers may see multiple offers for a well-priced house. However, they are not guaranteed. They never were but last year was the exception to the rule, kinda like having a snow day or 5 in Texas if you know what I mean. That said, prices remain strong and chances are you’re sitting on some real equity if you’ve owned your home for at least 5 years.
FYI: Sellers, if your home is currently For Sale and you decide to remove your property from the Multiple Listing Service for 90 days, it will be considered a “New Listing” in spring 2022. Anything less than 90 days though and it is not a “New Listing”. New Listings have a different caché than those that have been on market for months. If your house isn’t selling currently, it’s price or condition or both. Demand remains steady.
Always bear in mind that real estate is hyperlocal and hyper-situational so please reach out to us if you have questions over your specific market or situation.
If you haven’t checked out my YouTube Channel, I encourage you to do so, especially if you are interested in living in Austin, Texas. I’ll be covering the different neighborhoods, and introducing you to exceptional professionals and places that will make working, playing, loving and Living In Austin Texas that much sweeter. If you have any questions or comments, please feel free to give us a call or shoot us a text or email. I’d love to help you out.