How The Super Bowl Will Affect The Spring Market
Leander 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: Leander's Market Statistics
Let's start with the cold, hard facts. As of January's close, Austin boasted a total of 10,842 active listings. Among these, 3,320 homes found new owners, marking a modest increase from the previous year. However, it's worth noting that the average price per square foot dipped by 5.1%, standing at $252.61. Similarly, both the average and median sales prices experienced a decline, down by 3.9% and 4.4% respectively.
Interestingly, despite these fluctuations, the highest-priced home that changed hands fetched a staggering $5,150,000. This stunning property, nestled in central Austin, captured hearts and wallets alike, securing a cash deal for its sprawling acreage.
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.
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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Leander 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 Leander, 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.
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 Real Estate Prices Bottomed Out?
Leander Real Estate Update May 2023
About this time last year we saw interest rates increase at a rate never seen before along with a dramatic increase in the number of homes on the market. As a result, buyer demand dropped off the cliff which caused prices to fall around here almost as much as anywhere in the country. Of course, our prices had gone up so much we had farther to fall.
Many buyers, especially those influenced by social media predictions, held off buying thinking they could wait for prices to crash like in 2008.
Instead of seeing a 2008 crash, this spring has seen a resurgence in buyer demand. It appears buyers have gotten used to interest rates in the 6% range and have realize we aren’t going back to 3% rates any time soon and likely not forever.
In addition, we have not seen a spike in new listings like we did in the weeks after Easter last year.
4 of the last 6 homes we listed had more than 1 offer. That doesn’t mean the market has returned to the 2021 craziness. I don’t expect we will see that again. Even when we have multiple offers the homes are not selling for $200,000 over asking price.
But it does mean, at least for now, real estate prices have bottomed out. We won’t really know until later in the year if this is just a normal spring seasonal increase in buyer demand or the new “normal market” because it is still entirely possible for worse economic data to come out later in the year. For example, Austin has been one of the largest cities hit by tech layoffs. Until last week I didn’t have anyone contact me to sell their home due to losing their job and having to relocate. In the last week I have had 2 families contact me in that situation. That could be a coincidence or something we look back on in 6 months as a sign of more to come.
Market Value Down – Tax Value Up?
If you’ve looked at your 2023 property tax assessment you may notice something strange that has been confusing many people.
Real life property values are down compared to last year, but for many people the assessed value of your home has actually gone up. How is that possible?
For many homeowners with a Homestead Exemption the maximum your assessed value could go up in a year is 10%. What that means is after the run up in prices over the last few years many homes are assessed at significantly under the true market value of the home.
This is just a hypothetical situation…Someone may have a home that was worth $800,000 last year with an assessed value of $600,000. In 2023 the market value might be $700,000 with an assessed value of $660,000 after the 10% increase. In that situation the market value dropped $100,000 and the assessed value INCREASED $60,000. Even worse, a homeowner in this scenario can expect the assessed value to go up again in 2024.
There may be some good news for property taxes. In the Texas Legislature there are 2 competing proposals to tax relief for homestead properties. One increases the homestead exemption amount and the other reduces the cap from 10% to 5%. We will have to wait and see if either gets adopted for this year.
Who Is Buying And Selling Right Now?
At our last Home Selling Seminar someone asked me this question. She didn’t think anyone would want to move with higher interest rates.
My answer was “people who want to live a better life sooner than later.” Our clients move for all kinds of reasons. Many realize we aren’t going back to a 2021 market as if we can hit the light switch and at the same time realize we only get so many more turns around the sun.
If you have been waiting for the market to stabilize now is the time. Contact me at 512-791-7473 to strategize about your situation.
If you're planning a move, let's talk. Schedule a conversation at KopaConsultation.com or send me a text at 512-791-7473.
If you're planning to sell in 2022, 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.
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 Next Few Weeks Will Be Pivotal For The Market
Leander Real Estate Update April 2023
If you're planning a move, let's talk. Schedule a conversation at KopaConsultation.com or send me a text at 512-791-7473.
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.
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!
Our Featured Listings