Happy New Year Austin homeowners and home buyers. Here are my top 5 predictions for the Austin real estate market for 2022 but first let’s review the real estate statistics covering 2021 for the Austin, TX MLS area. It was another great year for real estate in the area.

The number of sales was down 5.7% to 3,756 sales but up 2.9% sales for the year with 44,871 sales overall.

The average months of inventory remained at less than 1 month. That means if no additional homes come on the market, it would take less than a month for all the homes currently for sale to be sold. A real estate market with 4-6 months of inventory is considered balanced between buyers and sellers so we are still in a strong seller’s market.

The average…

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One of the most frequently asked questions and something that is commonly misunderstood about selling your home is what taxes you will pay. The tax code can be confusing and isn’t always black and white. Hopefully the takeaway from this article is you likely won’t pay any taxes and if you do, they may be less than you expect. If you are holding off selling due to taxes contact me and I can point you in the right direction of how to find out what you will pay based on your situation. In addition, looking at IRS Publication 523, Selling Your Home is a great resource to understand what taxes you may or may not have to pay.

2 In 5 Exemption

If you have lived in your home for 2 of the previous 5 years than you should qualify for the “2 in…

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Because the real estate market has become so competitive many buyers are waiving the right to terminate the contract based on the lender’s appraisal. The appraisal is typically done after the buyer’s termination period has ended. If you are waiving your appraisal contingency you will not be able to terminate the contract and receive a refund of your earnest money if the home appraises for less than the sales price. If you are waiving this contingency here is an explanation of how that might affect the amount of money you will need for a down payment.

Please let us know if you have any questions before making an offer on any property.

Example

Contract price $400,000

Appraised value $380,000

If the home appraised value was…

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Let’s get to the real estate statistics for Austin, Texas. In November, 2021 there were 392,976 Single Family Homes sold in the Austin area which was down 8.6% from 3,256 sales in November, 2020. The average dollars per square foot increased 32% to $272.70. The average price increased 25.1% to $587,380 and the median price increased to $472,490 which was an increase of 30%.

Let’s talk about predictions for 2022. Keep in mind nobody predicted what’s happened in the last 2 years. Probably the only thing we can be sure of is something else is going to happen out of the blue that’s going to completely change everything.

The best advice I can give you for the next 3 months is to buckle up and hold on tight. I’m not saying we are going…

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Let’s review the Austin real estate statistics. In October there were 3,353 homes sold which was down 16.4% from October, 2020. The months of inventory is slowly increasing to 1.3 months from 1.1 last year. This is the most important supply and demand statistic to watch and as we head into the end of the year and January, it will tell us where the market is heading. Keep in mind anything under 4-6 months of inventory is considered a sellers’ market so we have a long way to go and buyers have to be careful not to overestimate the market moderating to mean the market is crashing.

The average sold price increased 20.6% to $555,124 and the median sold price increased 25% to $450,000. This is also an increase from September’s median price…

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Hi Austin area homeowners. I’m Eric Peterson Broker of Kopa Real Estate. Let’s review the most recent Austin real estate statistics.

In September there were 3,437 homes sold which is down 10% from last year.

The average sold price was up 22.7% from last year but down 2% from August.

The median price was $463,000, up 34.2% from last year but down 5% from August.

The average sold price to original list price was 101.4%. That means homes were selling on average for 1.4% over list price.

The average days on the market is 16 days, still down considerably from last year at 39 days but up 2 days from August.

Overall homes are still selling fast and we are still in a strong sellers’ market although not quite…

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 Let’s get to the statistics for August, 2021. We are still seeing huge increases in the year over year statistics. The big story is the huge month over month increases in average and median sales prices has dipped for the first time this year.

As a reminder these statistics cover the entire Austin MLS area. If you’re interested in a particular area you may want to check out one of our other blogs and videos or contact me directly.

Let’s start by looking at the listing inventory numbers. In August there was a total of 3,969 sales which is down 9.6% from last year and slightly up from 3,846 sales in August, 2019. The number of new listings is up 15.3% to 4,873 and the number of pending sales is down 34.9% to 2,877.

The months of…

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People today use Facebook to share all of life's little ups and downs with friends, often forgetting that good friends are not the only ones who might be looking at their Facebook page. When you’re buying or selling a home that could be dangerous.

If your home is for sale, you want the world to know, so do post good photos. Do tell your friends how to reach your agent to make an appointment for a tour. You can even state the list price.

After that, you can talk about your favorite features in the home – how the sun comes in the kitchen window in the morning, or how you enjoy your outdoor kitchen.

If you’re buying, you can tell your friends that you’re looking for a home in a specific neighborhood and even describe the perfect home.

What…

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 Ever since the beginning of the year when the inventory of homes reached an all-time low we have been noticing an important pattern with the homes we are selling. Homes that have some type of condition that in a normal market would have sold at a significant discount are selling for record prices right now. This is one of the few times in real estate you may be able to time the market.

Although the inventory of homes is increasing, we are still in a strong seller’s market which means buyers don’t have many choices. Motivated buyers who would pass over a home if they had 3 other homes to choose from are paying market price for these homes in today’s market.

Many of our savvy investor clients are taking advantage of this market and selling…

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Before I get into the monthly market statistics let’s talk about what many potential home sellers are asking; should they sell now or wait until next spring. As always, I wish I had a crystal ball and trying to time any market whether it’s the real estate market or the stock market is tricky. I also want to say you can always reach out to me to talk about your specific situation with no pressure. One of the nice things about our company is we have plenty of business so we don’t need to scare you into selling now if that’s not what’s best for you.

Here is something you should consider. To a large extent real estate comes down to supply and demand. When buyers have fewer homes to choose from prices tend to go up. When buyers have more homes…

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