Austin Modern Living.com

I will back up that statement up with some data next month when things slow down a little, but if what our office is doing is an indicator of the broader Austin real estate market, then Austin is seeing a HUGE SPIKE in sales volume and closings in July and August.   This sales spike is much larger than what is typically seasonally expected. Judging from the phones ringing and email inquiries coming in it doesn’t seem to be slowing up just yet.

There is certainly something different in the air this year in Austin real estate sales than in previous years.  I mean, like really different.  In years past, buyers and sellers would actually seem to work toward the common end goals: a contract, a non-terminated option period, a deal…and (I dare say) a closing!  This year though, sellers and buyers seem to have other goals in mind…and honestly, I’m not really sure what those goals are!

Certainly part of the issue is that a lot of buyers are shopping for deals and throwing out low ball offers at rapid fire.  And that’s fair, buyers, including myself, want good deals…and the only way to get good deals is to make offers.  The other part of the equation are the sellers.  Austin home sellers are in a tricky spot right now: How do you convince someone from out of state where home values are down 25% that certain Austin markets are actually a pseudo-seller’s market?  You don’t.  You let them figure it out themselves.

Look at the market.  In the south Austin real estate market in the 78704 zip code, the average YTD list price to sales price ratio is 96.32% and the average days to sell a house in 78704 is 72 days.  Sounds pretty similar to the data from the roaring salad days right?  Right.  Still, when you do the research and look at the Austin real estate sales data you will see that one sale where the buyer got 67.80% of list price…and that anomaly is what the buyer market sets their scopes on.

So, I guess this soap box article is really just to highlight that Austin buyers and sellers have severely different OPINIONS these days and that sellers should be prepared for continued low-ball offers and unrealistic expectations and that buyers should be prepared to hear those dreadful words “NO”.  It’s just where we are at right now, and don’t even get me started on the current lender appraisal situation.  Anyway, happy house hunting…and you buyers and sellers out there, why don’t you go out and get a cocktail together…loosen up, get to know one another a little better! 

Austin modern home pocket listing: Picasa Web Album:

This place is seriously smoking hot. It’s private, light bright and killer cool. Nothing else like it on the makret right now. 5 minutes to UT. 2 minutes to Dell Children’s hospital. You can look and look and look but you will not find anything close to this in style and location for the money. I promise you. This Austin modern home is elegant, clean, open and sophisticated. And totally private. The main living area has a sliding glass wall that opens to the private green creek area in back…it’s like being in a tree-house, in a good way. Relax or party on the backyard deck! This will not last.

This year is starting out a lot different than the last two years. In the past 12 days I’ve had 2 multiple offers situations (both of which went over list price), had one stubborn lot seller stuck on full-price, and another downtown Austin condo stuck on full price.  Kind of nuts to see so much seller’s market activity in such a strong buyer’s market….begs the question: Is the market turning around in Austin?

An interesting article in the Austin Statesman looks at the recent census data (2005-2009) that shows the explosion of sleepy farm towns on the edge of Austin’s perimeters turned into sprawling and popular bedroom communities.  Not surprising, those with the most growth were Hutto, Bee Cave, Kyle and the 183 Cedar Park/Leander corridor.  Here is a link to the Stateman Austin new home building article. By the way our Austin Realtors are all new home sales specialists.