The Shannon Schmitz Group explains the latest MLS numbers from the Austin Board of Realtors
“Current trends indicate that the upcoming summer selling season could bring one of the most competitive markets Austin has seen. Austinites wanting to buy or sell a home this summer should start the planning process with their REALTOR® now.”
– Bill Evans, ABOR President 2014
Breaking news this week: ABoR’s March Real Estate statistics are out and the market is getting crazy! Home sales reached a seven-year high in March 2014: Single family home sales are up 7% over last year. Condominium and townhome sales are up 5%. Sales are moving faster than ever – the average time period homes are on the market is only 51 days, down 13 days from this time last year. Both new and active listings are dwindling – this means more people are looking for homes and fewer properties are available. This creates a super-competitive market, and you need a true professional in your corner now more than ever.
Recently, Morgan Smith, partner at the Shannon Schmitz Group, represented a buyer looking at property at the 360 Building with great views of the capital and Town Lake. Even though they came up against several competing offers, Morgan was able to get her buyer in the primary position. That’s the power of good representation.
We know and love Austin, and our time in the industry has given us valuable connections. These connections give us – and therefore you – access to a wide array of homes before they ever hit the MLS, giving you a jump on the greater public when looking for a home. In this market, you need to make sure your offer gets in first, and gets noticed, so someone else doesn’t get there before you finish touring the home.
Selling in this market can be equally complex. The Shannon Schmitz Group recently represented a seller in the Senna Hills subdivision (in the highly sought-after Eanes Independent School District). Within 24 hours FIVE offers had been submitted.
If you’re looking to sell, you may be thinking to yourself, “I have a great home in a desirable neighborhood… In this competitive market, my house is going to sell at a great price no matter what”. Au contraire mon frère! There are several complex, potentially “deal-killing” issues that can arise with each contract. Our 35+ years of experience has given us eagle eyes for seeing roadblocks long before they occur and a keen understanding of how to resolve them as quickly and painlessly as possible.
You can check out the full report from Austin Board of Realtors here. Let us help you understand these numbers – and even pull numbers specific to your neighborhood. We’re here to advise you. Give us a call.