—There are many great Austin area homes for sale. Click here to perform a full home search, or if you’re thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today’s market. You may also call me at (512) 616-4100 for a FREE home buying or selling consultation to answer any of your real estate questions.
The market is changing! Last month, I told you that the market was hot, inventory was low, and we were seeing multiple offer scenarios. Since then, things have changed – inventory has risen dramatically, which has created some minor downward pressure on prices and sales.
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This doesn’t make any sense – more inventory and a reduction in sales? Well, the inventory that is entering the market is coming in with a higher price. The fish that are out there swimming aren’t taking the bait on over-priced homes! As a result, we will begin to see some price reductions and some changes in the marketplace.
The market is telling sellers to price your home at market value and to prepare the home to sell for top dollar. Buyers are rewarding the sellers of well-priced and well prepared home with multiple offers as a premium sales price (typically $5,000 -$15,00 above market value due to an auction effect). If sellers don’t prepare well or over-price, the buyers in the market won’t bite!
