Austin Texas Homes

Austin real estate stays strong: even though inventory is up…so are home values.

Austin is still in a Seller’s Market.  Home values are still increasing.  However, the number of homes sold has declined.  Currently, the supply of homes listed for sale is up over 25% while the number of sold homes for the same time last year is down by about 17%.  Homes currently in escrow have declined by 67%.  The decline in pending sales could move the market in to the buyer’s favor.

Now, even though those figures may sound a little scary, there are some things I would like to bring to your attention to put your mind at ease.

• Home values are still increasing even though the inventory is on the rise.  In most cities, when the inventory goes up, the prices come down.
• Austin home values are expected to increase by about 6% in the year 2008.  Some areas will see an even higher increase in values.
• Austin is the third top Seller’s Market in the nation; Austin has some of the most affordable housing in the nation.
• Austin has been on several of the Forbes.comBest City to…” lists.
• Entrepreneur Magazine has rated Austin as one of the Top Places To Buy, whether an investment property or as a personal residence.
• Inventory is up, giving Buyers a great selection of homes to choose from.
• Home values are up, giving sellers reasonable profits and homeowners great equity.
• Austin ranked #3 in the Best Cities for Jobs in 2008 (Forbes Magazine). As the work force in Austin increases, so will the demand for housing.Real estate is very local.  Market conditions, pricing and days on market vary from neighborhood to neighborhood.  If you are considering purchasing Austin real estate, I believe you are making a wise choice.  To know the best values for Buyers and the correct pricing for Sellers, please contact me.