I’m here today to give you the latest numbers from the Austin Board of Realtors, and I’ll try to make these boring real estate statistics a little more exciting for you.
Back in June, we had an eruption of pending home sales. These homes eventually closed in July, resulting in 952 home sales during the month. That’s up 13.5% from the crazy-hot market we saw last July.
As you can see, growth continues in Austin. There are over 100 people per day, on average, that are moving here. Forbes Magazine also just rated Austin as one of the top places in the country.
With the demand for homes, inventory continues to decline. In Travis and Williamson Counties, we only have about 2.8 months’ worth of inventory. This means that now is an awesome time to sell if you’re a homeowner. If you’ve been in your home for a few years and have seen some appreciation gains, buyers out there right now don’t have a lot to choose from. We’re seeing multiple offers, bidding wars, and high sale prices.
It’s also a good time to be a homebuyer. Our economy continues to be strong, especially when you compare it to the rest of the nation. There is new construction happening all over the place. If you’re thinking about buying a home, we’d love to sit down with you and take a look at your personal situation to determine what route is best. I’ve been helping many buyers get a better monthly payment with a mortgage than with the rent that they’re currently paying.
If you or someone you know has any questions or is interested in buying or selling a home in the Austin area, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.