‘Round Our Town – Round Rock Real Estate Update – September 2012
Can you believe it’s November? It feels as if this year has simply flown by… Speaking of flying, our home inventory has been flying off the shelves this year, not only in Round Rock, but also across the state. In fact, the 2012-Q3 edition of the Texas Quarterly Housing Report indicates that the real estate recovery in Texas appears to be sustainable.
Jim Gaines, Ph.D., economist with the Real Estate Center at Texas A&M University, commented on the report’s findings: “Previously, it was unclear whether the positive momentum of the first half of the year was a temporary surge or a sustainable improvement. These third quarter results clarify that picture, indicating that the housing market has recovered in Texas. Assuming the national economy doesn’t falter in a significant way, I think we’ll see this positive momentum continue in Texas.”*
In the Round Rock area, inventory was down 17.7% from September, 2011, from 763 to 628 single family homes, despite an increase of 3.8% in the number of new listings, from the same period last year. With lower inventory figures, Round Rock homes have spent less time on the market: 78 vs. 58 days – a whopping 26% decrease – since the beginning of the year.
Sellers have been receiving a high percentage of their original list price – 95.3%, an increase of .9% from September, 2011. Additionally, the median sales price has been inching up from a year ago – from$194,000 to $205,000.**
As the holidays approach, conventional wisdom has been that the fall/winter just isn’t a “home selling” season. The reality? That couldn’t be farther from the truth, especially in our marketplace. Here are just a few reasons why:
* Serious buyers are still looking – meaning, you have less “window shoppers.”
* Relocation buyers must buy – this is the time where many companies shift employees to different areas.
* The best agents in the business are still working – trust me on this.
* Selling in the fall/winter positions a buyer for the spring market – i.e. sell when inventory is low, and buy when inventory is high.
If you’re curious about what your home may be worth, I am happy to provide you with a free, no obligation market analysis of your home – I’m here for you. You have my word on that.
Information from the “Local Market Update – September 2012” by the Austin Board of Realtors®
**Does not account for seller’s concessions.
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