Here's some interesting statistics. Our new inventory for April is down 23% compared to last April. You should know that it is the time sellers put their homes in the market, spring time. But why is inventory down? Well, for one thing, we have been educating sellers, the reality of the market and if the sellers don't have to sell, then it is a good idea not to put it in the market. These sellers may want more money than their home is worth and since we will not list them at the price higher than what the market dictates, then the sellers will realize it is not worth the hassle to put at an overpriced price.
I also would like to point out that distressed properties (REO's, HUD's, and short sales) only comprise 2% of our market. That is great news for Austin, TX. Many agents from all over the country have been surprised by these news. This also is the reason why our market is so strong because we are not flooded by distressed properties. I hope this tells you that now is still a good time to buy! Want to get started? Give me a call today at (512)786-7355.
Double click on the attached graph to enlarge.
NOTE: The information above has been obtained from the Austin Board of Realtors and has not been confirmed by Keller Williams Realty nor Pearl Jones.
