2017 broke the record for home sales in the Austin area and set a new benchmark. For the first time, the area passed 30K homes sold in a year.
The boost in home sales is largely from the suburbs as opposed to the city core of Austin. New construction, affordability and the perception of getting more house for the money lead to the increase of suburban sales.
The December stats show us that our current market factors are advantageous for both buyers & sellers. Even more so from last year at this same time. Here's why...
It's a great time to sell your home
December sales ended 7% higher than the previous year for home prices. Frankly, that number is higher than it had been trending. The new year usually sees activity pick up, which means it will be picking up from a bit higher of a starting point. This is good news if you are looking to maximize what you can make on a home sale. We're happy to let you know what we think your home could sell for today, if your interest is peaked.
And, it's a great time to buy a home
The interesting stat as it relates to home prices increases is that the number of days a home is on the market is also up. That means that homes, in general, are staying on the market longer. Buyers will have more inventory to choose from and possibly less competition when they find the right one for them. Yet, we see an increase in buyers at the start of each year and this is no different! If you're thinking that 2018 is your year to buy your new home, let's chat!
It's clear 2017 was a great year for the Austin real estate marketing and 2018 is shaping up to continue the trend! We're meeting with tons of people already this year looking to make a move. We love being a trusted guide for folks that are thinking about if the timing is right them to make move, so let us know how we can help you and your friends & family!
Check out all the December stats from the Austin Board of Realtors in this infograpgh.
Thanks 2017; and let's make 2018 a great year!