September 2022

After a week of traveling for work, I thought I’d keep this Market Update super short and sweet, but then I got to writing and it turns out I had quite a bit to say! Whether you’re calling it a market shift or a market correction, we’re definitely seeing the effects in Austin, even though Austin is still a stronger market than most.

So what does this mean? We’re seeing longer days on market, quite a few price reductions (I mean, price improvements), and fewer closings being reported (which stands to reason, since average days on market has increased to a bit over a month (36 days) and I’m pulling a 30 day report each month). BUT it’s not all doom and gloom as the media would lead you to believe. Homes that are priced correctly and have put the work in to be properly listed and marketed are still finding success in this slightly slower market! If you want to know what it takes to sell in this market, let’s connect!

And if you’re thinking about jumping in as buyer right now, I’d encourage you to talk to a lender first (I know I say this all the time lol), BUT I’d also encourage you to consider looking at New Construction right now! There are a lot of builders around town who have a healthy amount of inventory (homes for sale) and they’re ready to make a deal. Each builder has it’s own unique set of offerings (they change week to week), but some that I’ve seen include buyer incentives of up to $20,000 towards closing cost or rate buy-downs (depending on your goals). And that’s on top of price reductions they’ve already made to brand new homes. SO! There are deals to be had in the world of Austin New Construction and it’s definitely worth a look. If you want to chat more about your options, let’s connect! I’ve been through the New Construction process firsthand recently (2020) and definitely have my list of dos and don’ts that I’d be happy to share.

***Market Update stats pulled from ABOR MLS on 10/1/2022 at 9pm CST. Records may vary as new data is added to the system after the fact.