This most unusual year is half over!
As we enter the summer, we are sure the question we are going to hear over and over is “How’s the market?”
What the facts tell us is that interest rates are very low and look like they will remain low, for some time there is not enough inventory of houses for sale on the market in most price ranges so prices are stable or even increasing (the old supply demand equation) and there are still lots of buyers out there.
The Greater Austin area continued to feel the stark effects of COVID19, as housing inventory dropped to critically low levels of less than 2 months of inventory in Austin, Travis County and Williamson County, according to the Austin Board of REALTORS® (ABoR) latest Central Texas Housing Market Report. The median sales price increased 0.7% to $329,893 and homes spent three fewer days on the market—an average of 47 days. "We're seeing home sales drop because we simply don't have enough inventory on the market," …. There’s a lot of opportunity for sellers who are ready—new listings have increased visibility and homes are spending less time on the market."
Our theory is that many people have lots more time to think about their housing situation, go get preapproved by a lender and get on the web to look for houses. The people with steady employment obviously have an advantage and many people are not thrilled with their home office situation so they are looking for a better home/work situation.
Builders are especially accommodating these days; Linda Welsh Realty has helped several people buy new homes recently. The new homes or model home are cleaned and disinfected regularly and are vacant. Also, buyers and sellers move for all kinds of reasons- schools, heath, proximity to family, new jobs etc. Life goes on.
We are taking all of the recommended precautions for our real estate activities, -no one in our car, masks, sanitizer, booties, limited people in the house, etc.
Let us know how we can be of service. Have a safe and Happy 4th of July and stay safe afterward. Thank You.