How much do REALTORS® think home prices are going to go up in 2018? The newly released REALTOR® Home Price Index shows that, across the nation, REALTORS® expect home prices to go up 3% in 2018.
But, what about the Austin real estate market? What about right here in Cedar Park, Texas? Well, the answer is…..About the same.
Across Texas agents expect home prices to go up 2-3% in 2018. That’s really not much different from 2017. In fact, in our Austin market prices only went up 3.2% in 2017. That’s a lot less than the 6 to 7 percent we’ve been seeing in recent years.
The year closed with a median price of $319,000 for the Austin area and more specifically, $289,000 for Williamson County (Cedar Park, Round Rock).
Our market is still a Seller’s market, but it’s beginning to shift. It’s taking longer to sell a home. Price appreciation is slowing. Just as you would expect, because markets always move in cycles.
What does this mean for you? Well, if you’re thinking about selling, do it NOW. And, if you’re thinking about buying, do it NOW. Sellers can capture the strong equity they have built up. And, buyers can take advantage of low mortgage rates.
Call me and let’s talk. 512-516-4666.