For months now buyers have frantically been bidding against one another whenever a new listing went on the market in Austin, Texas. We have been in an extreme seller’s market brought about by several factors: the pandemic, low-inventory, low-mortgage rates, and buyer demand.
Stories of homes receiving up to 94 offers and selling for $100,000+ above the asking price we shared. In my own experience my listings were selling in 2 days with 10-20 offers at 10-30% above the asking price.
However, things are changing. This week listings are up 29% here in Cedar Park, TX. Listings are up 32% in Austin, TX. This is giving buyers a little more breathing room. The bidding wars are subsiding.
Our market is changing, like it always does. It never stays the same.
So, if you are thinking about selling or buying in the Austin area give me a call at 512-516-4666: Cedar Park, Leander, Liberty Hill, Pflugerville, Round Rock, Georgetown.
