AUSTIN MARKET UPDATE
Summer is nearly here and with it are quick-firing home sales! Hundreds of people are moving here everyday and homes are flying off the market at record speeds. Austin's top housing market, stronghold on economic strength, and international attractions such as V8 Supercars at Circuit of the Americas are just a few reasons why Austin is making headlines. With a calendar full of Summer events and a burning hot housing market, it's a great time to be in Austin. I am really excited to announce that Realty Austin just launched our 2nd Annual Austin Habitat for Humanity fundraising campaign! Each dollar we raise is matched by $2 from our team - $1 from our agents and $1 from Realty Austin. Please help us reach our goal of $65,000 by July 21st so we can put on our hard hats and build another home for a deserving family. Austin's housing market is also buzzing as homes are selling much faster, and for higher prices than this time last year. I just completed my month-end analysis of the Austin real estate market where I compared year over year April sales from the Austin Board of REALTORS®. I found that the record-low inventory contributed to a significant year over year increase in homes sales and prices.
Austin Real Estate Market Snapshot
New home builders have a shortage of available lots and are behind on developing new neighborhoods, which is leading to a shortage of available homes in many areas. Any market with less than 6 months of inventory is considered a seller's market, and Austin is down to a mere 2.7 month supply of available homes! With more than 150 people moving here each day, and few homes available to buy, sellers can expect strong interest in their homes and buyers should be prepared to compete for properties. If you are in the market to buy, you need to get pre-qualified by a lender before sellers will take your offer seriously. The best deals are gone in a matter of hours, often with multiple offers, so send me your search criteria and I will set you up with a custom MLS search that will send you email alerts as new listings that match your criteria hit the market. It is a good time to sell in most areas as there are substantially more buyers in the market and 25% fewer homes for sale than this time last year. However, the market does vary widely by area, so send me the details on your home and I will get busy preparing a comprehensive analysis of your home's value in today's market. Thank you for taking the time to read my newsletter! It is always my pleasure to help, so please contact me whenever you have questions about real estate. And, please remember, I always appreciate your referrals. Sincerely, Search for Homes or Read my BIO
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