The New Year is about to be upon us. You may be asking yourself if this is the year you will sell your current house and move into your dream home. Many sellers think waiting until we hit the "Spring Rush" to put their home on the market is the best thing to do. That might have worked in past years. However, this winter has proven different than previous years. The recent rise in mortgage rates has forced buyers off the fence and into the market, resulting in incredibly strong demand RIGHT NOW!! At the same time, inventory levels of homes for sale have dropped dramatically as compared to this time last year. I personally have clients in multiple-offer situations in the $190,000-300,000 range.
Austin Board of Realtors reports:
Single-family home sales in the Austin-Round Rock MSA jumped 15.8 percent year-over-year to 2,055 home sales in November 2016, while home sales in the city of Austin jumped 13.7 percent annually to 656 home sales. This double-digit growth was evident in Hays, Travis and Williamson Counties as well in November 2016, with single-family home sales experiencing annual gains of 24.2 percent, 11.3 percent, and 14.7 percent, respectively. “Housing inventory will continue to be one of the biggest challenges facing the Central Texas housing market in 2017,” added Farmer. “In some local markets such as Round Rock, inventory levels have fallen below 1.0 months, which means that available housing stock is practically non-existent…”
The following infographics are for Austin and Williamson County, respectively:
Demand for your home is very strong right now! Why wait until Spring when your competition is at its highest? If you are thinking of selling in 2017, now may be the time. Give me a call and let’s look at your specific neighborhood to find out if now is the best time for you.