Friday, March 4, 2022 / by Kathryn Jones
We have many Russ Phillips Team clients looking for properties, both homes and land, in Travis County. According to The Austin Board of Realtors, at the county level, home sales have decreased 12.3% to 1,102 sales as of last month. The median price in Travis County rose 23.8% year over year to $530,000. During the same period, new listings decreased 14.7% to 1,206 listings, while active listings also dropped 25.7% to 603 listings. Pending sales declined 0.7% to 1,511 pending sales as monthly housing inventory decreased 0.1 months year over year to 0.4 months of inventory.
To go one step further, our President, Russ Phillips’ most recent blog post, “A Note From Russ On His 20th Real Estate Anniversary: Inflation, Supply vs. Demand, Beating of War Drums & More,” discusses the overall state of Central-Texas real estate inventory. It's really low across the board, not just Travis County. Check out this snippet from Russ’ realty wisdom to get a better viewpoint on the current marketing inventory:
“A neutral/balanced market between buyers and sellers is thought to be enough homes on the market that it would take SIX months to sell all available inventory (if the pace of sales remained constant and no new listings were added).
But we don't have 6 months' worth of homes to buy. The current supply across many price points and regions is below 1/2 a month. There are niches (like 1-3 acre lots with custom homes in West Georgetown for example) where literally the cheapest available home fitting this criteria is $1.1 million, and the SECOND CHEAPEST is $3.3 million. Everything else is under contract or sold. That, my friends, is a shortage of inventory.”
With that being said, we’ve gathered our current Russ Phillips Team buyer needs and wanted to share them to our amazing community to see if you might have something we’re looking for. From Travis County area homes, land and investment properties, the needs are there. Check out what we’re on the hunt for in Travis County for our buyers…
If you are selling a home or piece of land that fits any of these criteria, please contact our team today and let us take it off your hands! You can contact us via:
Phone: (512) 888 - 9205
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