What’s going on in our Austin real estate market in March 2019? Here it is the last week of March 2019. Spring has sprung and our real estate market is on the move.
Did you know that the Austin – Round Rock area is the third fastest growing in the United States?
From 2010-2017 we’ve seen our population soar from 1.7 million people to 2.1 million people. This represents a 22.5 percent population change. Amazing! And, today our daily net population growth still hovers at about 150 people.
Here’s what’s going on in our local real estate market.
- 7901 Listings in our Multiple Listing Service
- 2.89 % increase in number of listings compared to 2018
- 2,083 resales of residential properties for February 2019
- 16.82% decrease in number of sales
- 3,654 new listings
- 627 listings failed to sell (expired or withdrawn)
- $356,877 average sale price (down 1.4% compared to 2018)
- 66 DOM (days on market)
What does this mean overall? For sellers its means you home has never been worth more than it is today if you’ve owned it for 4 years or more. For buyers it means you can still take advantage of historically low interest rates on your purchase.
Yet, we continue to see signs of our market shifting. Sales are down. Average sale price is down about 1.5%. Inventory is increasing. Why? Because the real estate market always moves in a cycle, like all markets.
There’s good news for clients who are wise enough to work with me. My listings sell twice as fast and for about 2% more money than what the average agent produces. Why? My experience, expertise, and 89 Point Marketing Plan has a lot to do with it.
Look, real estate is simple. But, it’s not easy. If it were easy Seller’s could just put a sign in the yard and wait for a buyer to show up. Real estate is more complicated than ever before and it’s makes a huge difference to hire the right agent if you want top dollar when selling your home.
Who are you gonna call? Dan Forbes, RE/MAX 1 512-516-4666.
