It’s not easy to buy a home today in Cedar Park, Texas. That includes our surrounding cities of Austin, Pflugerville, Round Rock, Leander, Georgetown, Texas. Our whole Central Texas market is in a strong seller’s market.
It’s down right hard to be a buyer right now. Buyers are frustrated with multiple offers, low inventory, and rising prices. 2020 has been a difficult year for buyers and it looks like 2021 will bring more of the same.
Austin, Texas has a robust job market that is attracting many new residents. Over 150 people a day are moving here. Many people are leaving California, New York, and other metro areas to come to Austin ranks as the most favorite place to move.
Why is our market so hard for buyers?
- We have limited inventory. It seems like we have 20 buyers for every one home that goes on the market. I put a new listing on the market yesterday and had 23 showing requests in just a few hours. We ended up with multiple offers and the home went under contract at 114% of the asking price.
- Buyers must find a way to be first in line. I help my buyers do that with my customized Buyer Instant Notification system. 24/7 my buyers will get an email the instant a new listing that matches their criteria hits the market. Remember, the early bird gets the worm. The early buyer gets the house.
- Buyers can expect to be in a multiple offer situation. This is our current market and there is no getting around it. It’s important to work with a broker, like me, who has expert skills in writing a winning offer. Having negotiated hundreds and hundreds of transactions I know the secrets to winning in a multiple offer situation.
- Buyers can expect to pay a premium. The list price is just the starting price in this market. A home priced at $385,000 is likely to sell for $450,000. Because of our appreciation rate, buyers can expect their home value to continue to increase. Of course, there are no guarantees, but we see nothing that indicates this market will slowdown.
Thinking about buying new construction. It comes with it’s own set of problems, but it is very similar to the resale market.
How can I help you?
