Monday, November 20, 2017 / by Meagan Henry
Buying and Selling This Fall: Is Now a Good Time?
For families with school-aged children, summer is usually the busiest time for buying and selling real estate, if only to ensure all the chaos of moving happens before the school year starts up again. While it might be the easiest time to make your move in terms of scheduling, the summer may not actually be the most opportune time to buy or sell. Real estate trends work more on a micro level than a macro, and right now, the market trends for Williamson county tell us that this fall could be the perfect time to make your move. At the Russ Phillips Team, we want to do more than guide you through buying and selling real estate, we want to help welcome you to your new home and to our community.
Tracking Market Trends
When it comes to talking about real estate market trends, it’s not in your best benefit to talk in nationwide trends because what’s true in one city or region may not necessarily hold true, even in the next county over. Trends are hyper-local, which means that what’s happening in Georgetown may not even match what’s happening in the housing market for Westlake Hills or Round Rock. In addition to location, the second part of tracking market trends is looking at everything in terms of different price points. As you may have guessed, what’s true for home demand and availability in the $200s may not be even close to the same for homes in the $800s. So, yes, it is important to track market trends, but the Russ Phillips Team focuses on what’s more important: price- and area-specific housing market trends. This way, we can offer our clients the best advice for their specific situation and needs.
Lately, we have been seeing a few different things happening in our local real estate market that could mean it’s time for you and your family to move up. This is due to a combination of factors. First, the last few months have shown a consistent trend of homes in the $200s selling quickly. Right now, we estimate a 2 month supply of available homes for sale in this price range, which means homes in this range are being snapped up pretty rapidly. Now, when we look at homes in the $400s, it looks like there are roughly 7 months worth of homes in this price range listed in the MLS. Adding the two trends together shows that, if you have a home valued in the $200s and you’ve been thinking about moving up, now is the time. Your current home is likely to sell pretty quickly, because there’s a high demand for homes, and you’ll likely have a wealth of homes to choose from in the $400s, so you can expect to get a pretty good deal. This is, essentially, the real estate version of the advice, “buy low, sell high.” Right now, the $400s are priced low, and the $200s are priced high, so it might be time to move up!
Tracking real estate trends can get pretty complex; that’s why the Russ Phillips Team is here. We pride ourselves on being a valuable resource to our clients throughout the process of buying and selling real estate, and even after your transactions are done. Contact us to get started on your property search today!