The Austin real estate market has been one of the hottest in the United States for a few years now. However, many sellers have been wondering whether this spring is the right time to sell. Closely following the trends in the market makes it easier for sellers to make this crucial decision. And if those trends tell you anything this spring, it is that the demand for homes on the market is a clear sign that this is the time to sell. This fact coupled with the low inventory and buyer demand create a perfect situation for your home to stand out to buyers.
You’re in the Right Place
Austin has long been considered one of the best places to be in the country. A growing job market, plenty of cultural pursuits and diversity make Austin one of the best picks. Sellers have a good chance of attracting interested buyers who intend to work here from locals and transplants alike. Though Austin is a large city, it has a large amount of single-family homes available. Many families relocating into the area are searching for these homes, versus apartments or rentals. Owners stand a good chance of getting the price that they want for their homes due to the demand and rising prices.
Consider This …
Sellers can get a better idea of how good their prospects are by thinking about what attracts buyers and what they are looking for. The following facts may be helpful:
- At any given time, there are less than 8 weeks’ worth of inventory available.
- An estimated 150 people move into Austin every day.
- Nationwide, prices rose almost 11 percent from last year.
- Prices are still predicted to rise from three to five percent in 2014.
These facts help show that sellers have a lot of advantages. Spring is the time to start going through the process of listing your home for many reasons. Many buyers will be putting their energy into buying and moving during the summer months. It is easier to relocate with children when school is out, and many potential buyers will be taking advantage of this. Buyers are also well aware of the rise in prices over the past year. They are predicted to keep rising so many are anxious to buy now before interest rates begin to rise significantly as well.
Preparing to Sell
Because this spring will be a very busy time for buyers, you’ll want to act quickly. The right offer can come along when you least expect it, so you want your home to be all set for the market. Think about your home’s strong points that would appeal to many different buyers. What may seem like a minor feature to you might be what helps make up someone’s mind. Popular features like covered patios, outdoor kitchens and swimming pools are just what many buyers want. Put yourself in a potential buyer’s shoes. Is your home close to schools or major employers? How many local stores, restaurants and other businesses are within a reasonable distance? If you were buying a home here, think about what key features would help your decision.
Making the decision to sell is a tough one, but the Austin real estate market is the perfect habitat for nurturing sales at prices higher than last year. There was almost an 11 percent increase in home prices which is positive for those who did not sell in 2013 due to home values. A city that sees as many new arrivals as Austin does will have buyers willing to work with sellers in all sorts of situations. If you are still in the research phase and want to learn more about selling your home, please take a look at our Definitive Guide to Selling Your Home: