Thursday, February 2, 2017

What's in Store for the Spring Market in Austin?

The spring selling market will be here before you know it, so we wanted to give you the important data you need to know to be prepared if you plan to buy or sell a home in the coming months.

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With the spring and summer selling seasons just around the corner, we wanted to give you a quick Austin real estate market snapshot.

If you've kept up with the market over the winter, you probably saw the slight dip in inventory, but that’s typical for this time of year and nothing to be concerned about. As February rolls on and we head into March and April, we'll definitely see a large influx in inventory. That's also standard for that time of year.

It's also coupled with a lot of buyers coming out to the market, too. So we'll see a large uptick in inventory, but we'll also see a lot of buyers, resulting in a very competitive inventory coming into the spring market.

In terms of interest rates, we saw a little spike after the election, but they're sitting in the low 4% range. We don't expect any type of rate spike moving through the summer season. Money is still cheap, so it's still a great time to buy a house. 

Money is still cheap, so it's still a great time to buy a home.

If you're looking to sell this spring, another good thing is that we're still seeing a lot of people moving to the Austin market at a rate of 150 per day. If your home is priced right, is staged, shows well, and you have a great Realtor with a great marketing plan, you still have the opportunity to receive multiple offers on your home.

It's never too early to prepare for the spring selling season. If you're thinking about selling or buying a house or you have any questions about the Austin real estate market, give us a call or send us an email soon. We'd love to hear from you!