News Ticker

Austin Hottest Real Estate Market In The USA


brian_dillard__aiaweb

The capital city is now No. 1 in the country for fast home sales, with 40 percent of homes selling within seven days. The average is 10.

Average sale prices are cresting too, running about $60,000 more than Texas cities like Dallas, Houston and San Antonio with no significant slowdown in sight.

“In some areas we saw 10 percent price increases,” said Bradley Pounds, sales manager at Watters International Reality. “The double digit increases may not continue, however, there will be a significant price increase in 2015.”

Realtors say the market will remain strong if interest rates and inventory remain low, and if the job market, local rent rates and Texas transplant demands remain high. Any severe bubble burst is unlikely.

Experts suggest checking comparable prices in the last 30 days. The market is changing so fast that going back the traditional six months is irrelevant. Listen to your appraiser and lead with your head, not your heart.

If you offer above asking price because of multiple bidders, remember the market could slow down some. Condos and outlying areas are likely to cool off first.

“Central Austin is nearly bulletproof,” said Bradley Pounds. “They don’t make Central Austin anymore.”

To read more of this article head over to KXAN!
About Gregg Klar (386 Articles)
Austin creates an oasis of desirable communities that are touched by the beauty of it's presence. I'm one resident who considers myself fortunate to be a part of the Austin lifestyle. Combining a passion for my work with love for my community, I've earned my place among Austin's leading real estate professionals. I bring to every transaction a personal touch, innovative marketing techniques and in-depth knowledge of today's complex market to ensure your home sale or purchase is a success from start to finish. Put my team of experts to work for you today

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: