If you take a good look at this graph and still think the Market is collapsing then I don't know what you are looking at...
Yes, Year over Year Austin is still down by about -7% but looking at this trend and comparing it to when the price declines started happening last year, in June It would be tough to imagine Austin not being back into positive price appreciation territory year over year by August.
We're already about $35K above last August's median prices and we are seeing an upwards trajectory, we might even be in the positive range when the July numbers are released.
If you’re a buyer
This price dip is still a big opportunity in 2023, If you take advantage you'll look back with a smile and be glad you pulled the trigger. Let's set the record straight – prices aren't plummeting as the media might make it seem. Yes, some motivated sellers are adjusting prices to make a sale, but guess what, Not all sellers are feeling the pressure and offering discounts. But here's the exciting part for Buyers– you now have an abundance of options like never before, stretching back over a decade. If you're ready to buy, trust me, you'll be thanking yourself in the years to come. Don't miss out on the opportunity high-interest rates created for the Austin Market!
If you’re a seller
Listen up, The market is a tale of two halves: sellers who know the game and price their homes competitively are sealing offers and closing their deals, while those who aren't playing along are sitting on the sidelines. If you're looking to sell this year, It's totally doable, but there's a golden rule you must follow – price it appropriately. As we enter the summer and fall, it's crucial to consider normal seasonality and be ready to adjust your price. We don't want you "chasing the market down" like many sellers do in Q3 and Q4. You want to avoid that trap and make your selling experience as successful as possible!
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