What's On the Horizon

August 2021

Real Estate Market Report

The number of homes sold decreased by 9% in July year-over-year. However, the median price increased in 37% year-over year.

The dip in the number of homes sold indicates a much needed trend towards market stabilization.

The President of the Austin Board of Realtors said. “As we have moved away from the post-COVID boom, the market has begun to stabilize. The typical seasonality for the summer returned as people re-engaged in other activities, including travel. There are fewer instances of dozens of offers over list price even as home prices continue to rise, albeit at a slower rate month to month than the surge experienced in the first half of the year.”

Statistics for Homes in Austin-Round Rock MSA

Weekly Trend: Active & Sold Homes in Austin-Round Rock MSA

The number of active listings on the market for sale has been steadily increasing over the past dozen weeks. The number of homes sold has been on a rollercoaster ride as seen in the chart below.

New Hi-Rise Condos in Downtown Austin

Last year the newest additions to Austin’s downtown skyline included The Independent, 5th & West, 70 Rainey and Austin Proper. This year several new hi-rises are in the midst of being constructed.

Thinking of Adding a Second Structure to Your Lot?

Distinct zoning districts throughout each city establish site development restrictions, such as building height, setbacks, building coverage and impervious coverage.  Checking with the city to see what type of construction is allowed is the first step towards potentially adding more square footage to your lot.
Click here to view Austin Zoning Map

Click here to view Leander Zoning Map
Click here to view Round Rock Zoning Map
Click here to view Pflugerville Zoning Map

Median Sales Price of Existing Single-Family Homes

The median price of a home in the Austin MSA is slightly above the national median price, but well below other major metro cities.

The Basic Rules of Prepping Your House For Sale

Before we dive into the steps of prepping your home for sale, let’s go over the general rules first — the guidelines you’ll want to adhere to as you go about your preparations.

In general, the goal of prepping your house should be to:

  • Create a clean, clutter-free environment. Nothing makes a home look more poorly maintained than dirt, clutter, and overall messiness. A clean environment gives buyers confidence in the property and its condition.
  • Offer a neutral color palette. Prospective buyers need to be able to envision themselves in the home, and that’s hard to do if there’s a bright green wall and crazy, patterned wallpaper staring them in the face.
  • Put yourself in a buyer mindset. Think like a buyer when prepping your home. What would they like? What would give them pause? Let that drive your preparations.
  • Minimize where possible. The less furniture, decor, and personal items you have out, the better. In fact, it might even make your home look larger.
  • Emphasize curb appeal. First impressions are everything. Make sure your home’s curb appeal makes a good one.
  • Ensure your home is photogenic. A picture’s worth a thousand words, and in real estate, maybe even a little more. Make sure your home lends itself to high-quality photos that will really make your listing shine.
  • Address obvious repairs. If there’s a broken window, dent in the door, or nonworking faucet, fix it — before you list the home. You can bet it will show up on the buyer’s inspection and need fixing anyway.
  • Add little details and touches that matter. At the end of the day, the property needs to feel like a potential home to buyers. Small touches like fresh flowers or the smell of warm cookies can make all the difference.
  • Prep yourself and your family — particularly for the showing aspect of selling a house. What’s your exit strategy? Where will you go during showings, and how will you keep the place clean? Having a plan in place is vital before you open your doors to prospective buyers.

When in doubt, rely on your real estate agent. They’re the expert, and they’ll have a good pulse on what local buyers are looking for and how to get your home up to speed for the current market.