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