There are 3 really important questions that anyone thinking about selling their home should ask:
1) Who’s looking to buy my house? 2) How long should I plan to have my house on the market? 3) How many homes am I competing against?
Lucky for you, we’ve got some answers backed by hard numbers to answer those questions! So if you’re thinking about selling, we’ve got your bases covered! Here’s are a few statistics every seller should know when selling a home in Austin - The numbers may surprise you!
1. Who’s buying your house?
According to the Real Estate in a Digital Age
2017 Report by the National Association of Realtors, Millennials are the largest group of first time home-buyers at 66%, and they make up 34% of the total buyer pool. That’s a lot of tech-savvy buyers who primarily start their home-buying process ONLINE.
Since home buyers are scouring the internet for new homes for sale, digital marketing and social media exposure are absolutely essential in attracting the largest buyer segment to your house specifically. Lucky for you, The Williams Team’s 7 Step Marketing plan heavily focuses on email blasts, social media posts, and Facebook & Instagram ads for maximum online engagement!
2. How long will your house be on the market?
The average days on market in the Austin area was 71 days in December 2017 according to the Austin Board of Realtors, yet in the summer when the market is hot, we see the average days on market hovering around 45 days. While homes selling in the first weekend on market definitely does happen, that doesn’t mean there’s anything wrong with a house that has been “sitting” for a few weeks.
The demand for houses directly determines how quickly they will sell, so sometimes it takes a little while for that right buyer who’s looking for a house just like yours, in your neighborhood, at your price to get it under contract. For example, a $300K 3 bed/2 bath house in South Austin will attract a larger pool of buyers than a $2M 8 bed/10 bath house on town lake, and definitely have a shorter days on market. This is simply because there is more demand for smaller homes in a more affordable price range than a large multi-million dollar house, which will ultimately cause the first to sell much quicker.
3. How many homes are on the market right now?
Not enough, WE NEED MORE INVENTORY!! The market is moving so quickly, and there is not enough supply to match demand. According to the Austin Board of Realtors, we’ve got about 2 months of inventory right now, whereas 6.5 months is a “balanced market” between buyers and sellers.
If you or anyone you know is even thinking about selling a house, please let us know because we have buyers BEGGING to get into specific neighborhoods or looking for that perfect unicorn house, which could very well be the one you’re sitting in right now! The Williams Team can sell your home for MORE money in HALF the time, so please give us a call to get some cash in your pocket as you move on to the next phase of your life. Our buyers will thank you!
Would you like to know how The Williams Team uses these statistics to your advantage to sell your home for MORE money in HALF the time of the average Austin Realtor? If so, give us a call (512) 901-9660 to talk to Kristen Williams, Listing Specialist, about our proven 7 Step Marketing Plan and what your home could sell for TODAY.