The Signs Are There: Real Estate in Austin Is Getting Better
The housing market is on fire right now in Austin, Texas with buyers competing for homes sometimes offering more than asking price in order to come out on top. Karlyn Ellis talks about what she has been observing and offers her insight as to what to expect for the housing market in the coming months.
A Ray of Hope in this Hectic Market
First of all, things should become much simpler for everyone.
For buyers, the atmosphere shouldn’t remain as cutthroat as we have seen lately. There are some signs that indicate the climate is settling down here in Austin.
- Homes are now on the market for two to three days before an offer is made, whereas, up until recently, it had often been only a day. That’s a good sign.
- Properties marked as “Coming Soon” are another sign that the hectic pace should begin to calm.
Personally, I think people are beginning to feel safer as it pertains to COVID due to the vaccines rolling out across the country and businesses reopening. More people are comfortable again with strangers entering their homes for a showing with a REALTOR which means we are starting to see an uptick in inventory.
Less Demand for Investors
For investors, the demand seems to be lessening a bit as well. We haven’t been in the news as much lately, meaning we are less likely to be on the minds of out-of-state and out-of-country investors. With signs like this of slowing down, the climate appears to be getting better.
Communication is Key
The key is communicating with your clients and setting the expectations from the beginning. As realtors, we have to be the voice of authority with our clients and offer hope where there is hope.
We also need to be upfront with them when it comes to reality. You may have clients that are at a slightly lower price point than what properties are selling at right now. We just need to be honest with them. We have no say in how the market goes, all we can do is educate our clients and give them hope that things will fall into place.
The Bottom Line: Keep Hope Alive!
More listings will come on the market. Don’t forget to check that market weekly. Look at how many days a home is on the market. Check the number of active properties and watch for that number to rise.
I really believe you’ll begin to see the signs that things are getting better. Have a great week and stay safe!