Every fall about this time I have folks ask me should I buy now? Or should I sell now? The Austin area market has been strong for several years in a row. Certainly there will be some slow down in prices and inventory will eventually rise causing at least a slow down in price increases in the market. As I have spoke with several agents across the area market, I am finding several are reporting flat or slightly less sales compared to last year. With prices up. While I have seen some push back on price, I have found sales to be strong.
Should you buy a home in the fall? Yes if you are ready. Why? The builders have been building spec homes all year. Their fiscal years begin to end in September and through out the fall. They often offer great deals on spec homes that have not sold. They simply don't want them on their books.
Then there is also the left over summer inventory in existing homes. It consists of sellers who over priced their homes in the summer. They have finally got the price down to where it should be and they are ready to sell. There is still limited inventory, and it is likely a person whose home has been on the market for 80 or 100 plus days is usually ready to get it done. Good for the buyer.
IF you are a seller you are still in good position. Your home has a strong value, the key is to price it in the right range. All year long there have been too many homes aggressively priced. This does not help get the sale done. In fact it has increased the average days on market a bit since the first of the year. With that in consideration, home values have gone up this year so it is still a great market. IF you place your home on the market now, priced reasonably, you will likely sell it quickly. There are lots of folks coming to the Austin area, many are looking for homes between now and January. This is a great time to sell your home.
Buying/Selling yes NOW is a great time!!!