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Buyers may begin to think that if a listing lasts too long there must be something wrong with the property. They may make a discounted offer or simply choose not to see it at all. Both options cost sellers real money. Continue reading
The percentage of total unit sales in the $200,000 to $400,000 range grew from 46% in 2014 to 62% in 2018, and to 66% in the 1st quarter of 2019 because the availability of homes under $300,000 fell dramatically. Continue reading
I continue to expect some flattening of the Austin-area market in 2019, but January and the first quarter will tell us whether December’s drop was just exaggerated holiday seasonality or a sign of more to come. Continue reading
Resistance to increasing prices correlates with increasing Days to Sell, but doesn’t indicate a sharp downturn for our market. Indeed, this is the way a healthy, properly-functioning market works. Continue reading
Market economists remain confident in our strong market conditions through 2019 and into 2020, and I agree. Inevitably, however, we will see prices moderate, interest rates increase, “days on market” grow, and inventory begin to catch up with demand. Continue reading
I have written recently that we might be seeing some signs of movement in the direction of more normal market conditions. The latest local data seems to reinforce that opinion. Continue reading
In 2017 Outlook I promised to provide more information about how much home prices can vary from one area to another around the Greater Austin area. I won’t get down to neighborhood-specific market activity in this post, but looking at the 5-county metropolitan area in pieces will paint a fairly complete picture. As a starting … Continue reading
Following up on another post today about the market environment on and near Lake Travis, I want to comment quickly, that although lake-area homes are generally more expensive than the median home in the Austin metropolitan area, the market velocity issues discussed in that post are not price-driven. Here’s a look at Days to Sell … Continue reading
Following up on another post today about the market environment on and near Lake Travis, I want to comment quickly, that although lake-area homes are generally more expensive than the median home in the Austin metropolitan area, the market velocity issues discussed in that post are not price-driven. Here’s a look at Days to Sell … Continue reading
Sellers who price right early consistently sell faster and for more money than those who have to reduce their prices one or more times to attract a buyer. Continue reading
Bill Morris on Austin Real Estate 