You may be wondering “when’s a good time to sell my house in Round Rock?” After all, the volatile conditions of the markets in recent months have many homeowners anxious about being able to sell their home fast, for top dollar. Taking a look at the current state of the real estate market can help you to determine whether selling now is best.
Follow along as we take a deep dive into the real estate market in Round Rock and give you tips on when to sell and when to wait.
Round Rock Market
As a seller’s market, Round Rock is a great place to sell your home right now. In a seller’s market, the conditions favor the seller over the buyer. In practice, this means that the supply of homes is low while demand is high. Homes tend to sell faster and for more money than in a buyer’s market.
Recent data shows that the median sale price of a Round Rock home in April 2023 is $450,000, a decrease of 10.2% year-over-year. The number of homes sold decreased while the median days on the market increased. As supply remains low, there’s no signs of demand slowing.
It is likely that the market will continue its trend and push towards a neutral market in the coming months. In a neutral market, both buyers and sellers are evenly matched and the conditions can easily be taken advantage of by both parties.
Should You Sell Now or Wait?
The question “is it a good time to sell my house in Round Rock”, then, will likely depend on your circumstances.
If you are in a situation where unexpected life changes have occurred then you may not have the luxury of waiting. It may be in your best interest to sell now while the seller’s market remains in full swing.
On the other hand, if you have some flexibility, it’s worth weighing all your options. First, consider the state of the economy. The Federal Reserve continued to raise interest rates in early 2023, and inflation was still high. And some economists think a recession may be likely later in the year.
Of course, it’s impossible to completely predict what direction the economy could head in. But if it’s reasonable to assume a recession is in the future, selling sooner could be better. That way, you avoid selling in a recession, when there’s likely to be even fewer home buyers in the market.
But if you sell now, you’ll also have to consider whether you’ll be looking to buy another home. If that’s the case, you’ll face expensive mortgage rates. And depending on the housing market you move to, there may be more competition from other buyers.
Ultimately, it’s important to consult with a real estate professional to help you decide the right time to sell. It’s also a good idea to reach out to a realtor in the area you plan to buy your next home.
What Can You Do to Achieve a Successful Sale?
If you want to ensure your home sells fast in a down market, it’s imperative to invest in it to make sure it’s move-in ready.
When the market is tough, home buyers are actually more willing to pay a higher price for a home in good condition. That way, they won’t have to worry about having to pay for potential repairs or an appliance breaking down right after purchasing the home.
To start preparing your property for sale, invest in professional:
- Cleaning services to deep clean and sanitize your entire home
- Landscaping services to boost your curb appeal
- General contractors to fix urgent repairs, add new paint, and repair big-ticket items like the roof
- Home stager to maximize your home’s best features, layout, and natural lighting
In addition, it will be crucial to work with an experienced realtor who can come up with a pricing strategy for your home. In a market experiencing high interest rates, home sellers typically have to lower their asking prices to compensate for the increased mortgage expense for buyers.
But when there’s a buyer’s market at the same time, many home sellers may be tempted to lower their asking prices even further in order to appeal to home buyers.
When there’s a small group of buyers that have their pick of a large inventory– including new construction– lowering your price can seem like a good way to compete. However, you also risk losing thousands in profits.
A realtor can help you walk the line and get the best possible price for your home.
Work With Our Team to Sell a Home in Round Rock
If you need to sell a home in Round Rock, contact Your Home Sold Guaranteed Realty - The Salas Team today. Our team has years of experience serving home sellers in the community, and we can help you answer the question, “Is now a good time to sell my house in Round Rock.”
We’ve become known as the best realtor in the area because of our exceptional selling speed. In fact, we sell homes 2.8 times faster and for 3.1% more money than our competitors.
On top of that, our clients love working with us because of our unique seller guarantees, such as our Guaranteed Sale Program.
With this program, you can ensure your home sells within your desired time frame, no matter what. If it doesn’t sell to a home buyer, our real estate team will buy it ourselves for an agreed-upon price.
To learn more about our other guarantees or what it’s like working with our team, call 855-331-7653. You can also fill out the form below for more information.