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September home sales activity in Austin showed more signs of a lower buyer frenzy than we saw earlier this year as we’ve seen for the past several months. Most of our activity-related categories posted red numbers, but our home pricing refuses to drop posting another month of average and median pricing near our YTD average. And, our days on market (DOM = number of days on market before a seller gets home under contract) stays stubbornly lower than past years with a number 64% lower than 2020. Below is the updated chart I’ve sent you the past few months which shows the for the first ¾ of this year through September. Hard to believe we only have 3 months left in 2021.
Now, the above doesn’t necessarily mean home buyers will see a much-improved marketplace where sellers are dropping their prices and multiple offers go away. For instance, I listed a home last Thursday in the $500-600k range and we got a double-digit number of offers and executed a sales contract at nearly 15% over the asking price after only 4 days on the market. Homes that are in good condition and well-priced still sell quickly. The trick is the listing price and this is where an experienced agent (I’m about to start my 16th year) and sellers that understand the pricing philosophy are invaluable to getting top-dollar for their home quickly. Contact me so I can show you how.