How The Super Bowl Will Affect The Spring Market

Georgetown Real Estate Update February 2024

In this detailed breakdown, we delve into the numbers, dissecting trends and uncovering what's in store for buyers and sellers alike.

The Numbers Game: Georgetown's Market Statistics

Let's begin by examining the statistical snapshot of the Georgetown real estate market from January:

In January, Georgetown boasted 732 active listings, with 328 homes under contract and 159 homes successfully sold. However, there was a slight decrease of 4.8% in homes sold compared to the previous period. Despite this, the market remained robust, with an average price per square foot at $217, reflecting a 3.7% decline. The average sales price experienced a marginal decrease to $503,154, while the median sales price saw a notable increase to $468,465, up by 6%. Notably, the average days on the market increased to 90 days, marking a significant rise of 34.3%.

The highest-priced home sold for $1.4 million, highlighting the diversity of offerings, particularly new builds near Lake Georgetown.

The Super Bowl Effect: Shaping the Real Estate Landscape

The Super Bowl is an event that has become deeply entrenched in American culture and affects more than just football enthusiasts. In Austin, it marks the start of the spring real estate season and tends to generate a lot of interest from both buyers and sellers. As a result, competition becomes more intense in the days leading up to the game. This increased activity sets the stage for a lively and spirited real estate market, where both parties compete for their share of the pie.

Beyond the Numbers: Ground-Level Insights

We have gained some valuable insights from our experience in Austin's real estate market, which goes beyond just analyzing the numbers. Despite the ups and downs of the market, there is an underlying feeling of positivity. Properties that remained unsold last year are now being quickly purchased by interested buyers, which has reinvigorated the market. This renewed sense of energy bodes well for the future as we move further into the spring season.

Your Path to Success: Navigating the Austin Real Estate Landscape

If you're contemplating listing your home or simply curious about the current market dynamics, I am ready to guide you. So, if you're pondering your next move in the world of real estate, don't hesitate to reach out. Whether you're selling, buying, or simply seeking guidance, Kopa Real Estate is here to help you make informed decisions and achieve your real estate goals.

                                                          

Hundreds of people have attended our Home Selling Seminars. If you are planning to sell your home next week or in 2 years you should attend one of our two upcoming seminars in January.

  • Saturday, February 17th at 9 AM at the Cedar Park Recreation Center.
  • Thursday, February 22nd at 5 PM at Moonshine in Avery Ranch.

If you have any questions about how this information affects the value of your home, please reach out to me at 512-791-7473. This workshop will provide all the information you need for a successful sale in this market, and it is purely educational. Plus, attendees will enjoy complimentary. Reserve your tickets by signing up today at KopaSeminar.com.

Some exciting developments are taking place in the real estate market, and if you're not actively involved, you might miss out. When you're prepared to have a no-obligation discussion about the realistic selling price of your home and the process involved, feel free to reach out to us at 512-791-7473 or schedule a time at KopaConsultation.com.

                                                          

If you plan to sell your home, now is the best time to attend our Free Home Selling Workshops. If you want to attend a workshop, contact us, and we will notify you when they are scheduled. As always, you can check KopaWorkshop.com to see the dates and times of our in-person and online Free Home Selling Workshops. For years, home sellers have told me they benefited from attending our events. Sign up at KopaSeminar.com.

KopaSeminar.com

                                                          

The information on this page may have changed since we first published it. We give great real estate advice, but this page (and the rest of our site) is for informational use only and is no substitute for actual real estate, legal and financial advice. If you’d like to establish a Broker-client relationship, reach out to us and we’ll tell you how we can make it official. Sending us an email or reading this page alone doesn’t mean we represent you.

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Georgetown Real Estate Market Report

January 2024 | Happy New Year!

In January, we conducted a thorough analysis of the most recent statistics for single-family real estate in the Georgetown, Texas area. We carefully examined various metrics such as the number of homes sold, average sales price, days on the market, and inventory levels.

Furthermore, based on our analysis, we have identified the key statistics that we are closely monitoring to predict where the market is headed for the rest of 2024. These include factors such as the supply and demand dynamics, interest rates, and the overall economic conditions in the region. By keeping a close eye on these metrics, we can provide our clients with valuable insights and help them make informed decisions in the highly competitive Austin real estate market.

                                                          

Hundreds of people have attended our Home Selling Seminars. If you are planning to sell your home next week or in 2 years you should attend one of our 2 upcoming seminars in January.

  • Saturday, January 20th at 9AM at the Cedar Park Recreation Center.
  • Thursday, January 25th at 5PM at Moonshine in Avery Ranch.

If you have any questions about how this information affects the value of your home, please reach out to me at 512-791-7473. This workshop will provide all the information you need for a successful sale in this market, and it is purely educational. Plus, attendees will enjoy complimentary. Reserve your tickets by signing up today at KopaSeminar.com.

Some exciting developments are taking place in the real estate market, and if you're not actively involved, you might miss out. When you're prepared to have a no-obligation discussion about the realistic selling price of your home and the process involved, feel free to reach out to us at 512-791-7473 or schedule a time at KopaConsultation.com.

                                                          

If you plan to sell your home, now is the best time to attend our Free Home Selling Workshops. If you want to attend a workshop, contact us, and we will notify you when they are scheduled. As always, you can check KopaWorkshop.com to see the dates and times of our in-person and online Free Home Selling Workshops. For years, home sellers have told me they benefited from attending our events. Sign up at KopaSeminar.com.

KopaSeminar.com

                                                          

The information on this page may have changed since we first published it. We give great real estate advice, but this page (and the rest of our site) is for informational use only and is no substitute for actual real estate, legal and financial advice. If you’d like to establish a Broker-client relationship, reach out to us and we’ll tell you how we can make it official. Sending us an email or reading this page alone doesn’t mean we represent you.


Why The Real Estate Market Is Like A Frozen Microwave Burrito

Georgetown Real Estate Update June 2023

 

In this article, I will cover the most recent real estate statistics for Austin, Texas, talk about why the real estate market is like a microwaved frozen burrito, what "Date the Rate Marry the House" means, and why you don’t want a hungry agent.

Before I start if you have plans to move sign up for our next Free Home Selling Seminar Thursday, July 13th at 5:30 PM at Moonshine Grill. Sign up for this in-person seminar or our online Zoom seminars at KopaSeminar.com.

Be sure to subscribe for our Weekly Newsletter to see more local real estate information.

On June 1st there were 890 active homes in Georgetown and 408 homes under contract. 261 homes sold in May, 2023 at an average dollars per square foot at $230. The average sales price was $531,561 and the median price was $450,000.

THE MOST INTERESTING REAL ESTATE MARKET IN AMERICA

Lance Lambert, real estate editor at Fortune Magazine, called Austin the most interesting real estate market in America.

Prices went up like a rocket and came back to earth, but still up 43% since March 2020. Some people can’t get over missing out on timing the market. The truth is few people did because even those who sold at the top had to buy in the same market at the top.

If I told you in March 2020 your home would be worth 43% more in 3 years you would have been over the moon happy about that. If you’ve allowed yourself to get stuck because you missed out on the peak perhaps a change in perspective to thinking about how much better off you are than 3 years ago will help you get unstuck. Otherwise using 2021 and early 2022 as your baseline will cause you to be very unhappy.

As we have returned to a more “normal” real estate market some of the normal market dynamics have returned. If you’re like me and you grew up a latch key kid you’ve eaten your share of frozen burritos. With a microwaved frozen burrito you know the first bite will burn your mouth and the very next bite is still ice cold. When someone asks me “How’s the market?” it’s like a frozen burrito and I have to know what area and even what type of house they are asking about. There are homes I sold last year that would sell for 30% less this year and other homes that would sell for almost the same price.

Because of this frozen burrito real estate market that’s why you can’t use any of these statistics to accurately value the price of your home or a home you want to buy. There is no national real estate market and you can’t rely on your friend from the east coast to give you advice about our market, you’ll need to have someone who can give you insights into what’s happening in our local market. Whenever you are ready, we should have a conversation about your specific situation.

You will want to avoid listening to any of the doomsayers out there trying to scare you with misleading information into thinking the market is going to crash. People are cherry picking statistics to make things sound worse than they are. For example, I saw someone with a large following on Twitter using statistics from south Austin to extrapolate the entire real estate market. There are zip codes in south Austin that attracted a high volume of flippers and small builders who got caught in the downturn. In those pockets the real estate market will be very difficult. Fortunately, our area hasn’t seen that type of activity so the inventory of homes is not nearly that elevated.

WHAT DOES "DATE THE RATE, AND MARRY THE HOUSE" MEAN?

As interest rates went up many real estate agents started saying this to clients to encourage them to buy a home today for the long term and think of the interest rate as a short-term situation. The thinking is interest rates will eventually go down and the buyer can refinance. But the perfect house might not be available again if a buyer passes on it due to interest rates.

Of course nobody knows what the future holds but life is about probabilities and it’s likely at some point in the next couple years interest rates will be lower.

Where it might not work out is if the buyer puts down a low down payment and the market value of the home goes down. In this case the buyer may not be able to refinance without putting down additional money. If the buyer doesn’t have that additional money they would be stuck with the higher rate.

The answer to so many real estate questions is it depends. Date the rate, marry the house might turn out great for some people and not so great for others. Contact us if you would like to talk about your specific situation.

WHY YOU DON'T WANT A HUNGRY AGENT

Sometimes I’ll hear someone saying they want a “hungry agent”. In reality hiring a hungry agent is your biggest risk in this market.

The number of homes in our area being listed and sold is down about 30%. Realtors are leaving the business left and right because there aren’t enough homes for everyone. If you’re looking for a hungry agent you will have a lot to choose from.

What you don’t realize is how much that will hurt you. When listing your home, the biggest risk you have is hiring someone who will tell you what you want to hear so you hire them. When an agent is that hungry you have to wonder if the advice they are giving is benefitting you or them.

I recently had a buyer’s agent on a sale tell me she personally needed that deal to close. I wouldn’t want someone in that position working for me because they might push me to do something just so they can make their mortgage payment!

Real estate agents have a bad reputation of always saying it’s a good time to buy or sell. Believe it or not I’ve had many conversations with potential clients where I told them not to make a move. This text message is from someone who called me to sell his house. He thought his taxes had gone up so much he couldn’t afford the home anymore.

When I looked at his situation the problem was he never filed for a Homestead Exemption. Once he did his monthly payment is back to being affordable and he got a nice chunk of money refunded by the tax office.

Imagine if I was hungry for business? A hungry agent would have told him he needed to sell his house and never told him filling out a form at the tax office was really what he needed to do.

Something that most people don’t think about but they should is make sure you are hiring an agent who is financially secure enough to give you advice that benefits you and not them. Whenever you are ready to have a conversation about your situation contact me at 512-791-7473 or schedule a time at KopaConsultation.com.

                                                          

If you're planning to sell in 2023, now is the best time to attend our Free Home Selling Workshops. If you want to attend a workshop, get in touch with us and we will notify you when they are scheduled. As always you can check KopaWorkshop.com to see dates and times of our in-person and online Free Home Selling Workshops. For years home sellers have told me they benefited from attending our events. Sign up at KopaSeminar.com.

KopaSeminar.com

                                                          

The information on this page may have changed since we first published it. We give great real estate advice, but this page (and the rest of our site) is for informational use only and is no substitute for actual real estate, legal and financial advice. If you’d like to establish a Broker-client relationship, reach out to us and we’ll tell you how we can make it official. Sending us an email or reading this page alone doesn’t mean we represent you.

Have a Question?

Contact Us Now!

Provide a valid email address.
Newsletter consent

                                                           

 Our Featured Listings