Why Austin real estate is good for buyers and sellers
published on December 2, 2008
Sold prices are strong in Austin: In Austin, single-family median home prices are up 25% since the peak of 2000 when the median sold price for a single-family home was $89 per square foot compared to $120 per square foot today. So if a seller has been in their house for 3 or 4 years or more and they sell now, the chances are that they will be taking a gain on the sale even if they have to take a lot less than what they were expecting.
Sell low and buy lower: With fewer homes selling in Austin there is more pressure on home sellers to drop their price to get their home sold. While this may hold true in the current Austin real estate market, don’t forget the flip side of the coin is that the seller may turn around and find an even better deal when purchasing a new home of their own.
No matter what the condition of the economy, there are always deals to be found in real estate for both buyers and sellers: Real estate supply and demand is local down to the street level and there is always the possibility that the home a homeowner wants to sell is in high demand and can therefore command top dollar. As a buyer, having an eye for desirable places to live with abundant supply might just land a buyer a good deal as well!
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*This blog has been provided by Austin REALTOR® Brian Talley of Regent Property Group. Although the above information is deemed reliable, it is not guaranteed. The information contained herein is subject to errors, omissions and changes without notice. Contact Brian Talley at 512-554-9714 if you need help buying or selling a home or if you have a need for Austin office space.
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