Market Update February 2021

 

State of The ATX Real Estate Market 

When we look at greater Austin (Travis, Hays and Williamson counties) from January 2021 to January 2020:

-Average sales price is up 24% to $470k (median $372,500)

-Average units sold up 10% to 2,150 homes closed

-Average price per square foot up 23% $235 /sq ft (median $193)

The Post-Covid Boom:

-A market like I (and many of my colleagues) have ever experienced

-Pricing strategies for listings prove to be difficult as 90-day comparables no longer relevant (we tend to look at 1.5mo of inventory and pending homes)

-Pricing for buyers we hope* will not continue at a 20% increase as we get further into 2021 but start to “catch up” with Jan/Feb market demand and pricing info.

-ATX will continue to remain strong and competitive with our current weather, growth and demand factors (Tesla, Apple, Samsung and commercial projects on the horizon and cities in the “sunbelt” performing quite well)

-Lack of new construction homes and inventory will be an issue for next few years

-Affordability is definitely a concern as $300k becomes a disappearing price point for many (sigh)

What this means if you want to buy:

-Be patient

-Stay positive

-WATCH the market and educate yourself on what it takes to WIN a home

-Pre-approval sooner than later, know your “worst-case” scenario

-May also want to be pre-approved through Homeward which helps you purchase with Cash

-Hire an experienced agent  #boughtwithbrinkman

What this means if you want to sell:

-Prep work and timing still key to get top dollar

-Let’s chat-so much to cover here! #brinkmanismyhomegirl