Making the decision to sell a house in Austin is a major, life-changing choice that will have long-lasting effects on you and your family. Just about every home seller has two primary goals to achieve: sell fast and get top dollar for the house. As long as these two goals are met, it will help to ensure that your family is heading down the right path to your new home and new life.
If a home on the market is lingering there, home buyers may begin to wonder why it has remained for sale for so long. They may even start to think that there is something wrong with the house. Because of this, you may find yourself needing to reduce the asking price in order to gain some interest from home buyers.
Are you hoping to sell a house in Austin? Keep reading! Our realtors at Your Home Sold Guaranteed Realty - The Salas Team want to give you all the information you need to know about the home selling process and how long it usually takes to sell a house in Austin right now. We are also happy to provide you with some tips to make sure you achieve your real estate goals.
How Long Does It Take to Sell a Home in Austin?
This can be a challenging question to answer because the housing market, generally, is always changing. The housing market conditions can affect the length of the sale as well as the time of the year in which you choose to list it.
If, for instance, you decide to list your home in May or June, you will likely sell it faster than if you had chosen to list it in October or December. Homes often sell faster during the spring and summer months versus fall and winter.
Additionally, the larger housing market conditions can and will affect the selling speed, so it is important to understand what the market looks like currently before you make a decision to list.
As we are all well-aware, the pandemic caused a great amount of upheaval and uncertainty in every facet of our lives, including the housing market. After a few years of this trouble, the world is starting to return to a sense of normalcy, and this, again, includes the housing market, but this return is not rapid. With high interest rates, a home seller can expect to spend approximately 75 days on the market with about 50 more days until closing.
What’s Going On in the Local Market
As of January 2023, the Austin housing market reported a 6.3% decrease in median home prices to $450,000, the largest price drop since July 2011. The inventory of homes is still low, and the market requires more homes in order to return to normal levels. Despite the inventory issue, home buyers and sellers are active. Sellers are listing 63.4% more on a month-to-month basis, and home buyers are making investments as pending percentages increased 32.4%.
The city of Austin itself has seen a 4.6% decrease in median home price to $525,000 in January 2023. Sales have declined 37.3% year-over-year and sales dollars also decreased by 35%. The number of active listings rose 387.5% to 1,760, but pending sales declined by 26%.
Many in the Austin area are wondering whether or not the Austin housing market is overpriced, but the demand for homes clearly shows that the economy, growing population, and out-of-state buyers are causing the price to increase steadily. Because of its growth and popularity, the prices may seem high but the investment is well-worth it. Even companies like Google and Tesla are moving their operations to Austin!
According to experts, the housing market is forecasted to reduce house prices by about 2.1% between January 2023 and January 2024. With rapidly increasing inventory and forecasted price drops coming, now would be a great time to invest in a home in Austin.
What Can You Do to Make Your Home Sell Faster?
If you are planning to sell a house in Austin this year, you may be wondering what you can do to improve your chances of selling fast and getting top dollar. Our team at Your Home Sold Guaranteed Realty - The Salas Team is here to help you achieve your real estate goals, and we have some advice for you to make your home sell more quickly.
Emphasize Your Home’s Location
As most are well-aware, the location of a home can be critical in its ability to sell quickly. While you cannot change your home’s location, you can certainly emphasize all of the positive things about it in the listing.
If, for instance, you live in an area with access to top-quality schools or a short commute to the heart of the city, you can definitely emphasize those facts in the listing. Being close to popular green spaces or local attractions is also a fact that home buyers will be very interested in knowing and can help to set your home apart from others on the market.
Find Out If Home Buyer Demand Is High
Depending on your particular circumstances, you may want to consider waiting to list your home until you know for certain that home buyer demand is high. This may be during the warmer spring and summer months (when home buyers are most active, historically) or if the market has taken a swing in your direction. That will ensure that your home sells quickly.
Make Sure Your Asking Price Is Fair and Reasonable
Every home seller wants to make a great profit from their most valuable asset. However, you cannot list an asking price that is beyond reason or what is fair for the current market in your area. Asking price is critical when it comes to attracting interested home buyers.
If your asking price is too high, this will deter potential buyers who are already well-aware of what homes like yours in the same area are selling for. Home buyers will move to the next home on the list and yours could be sitting on the market for far longer than expected, leading to a reduction in the asking price.
Another reason that an unreasonably high asking price could be problematic is that it could lead to appraisal issues. If the home is not appraised for the same price that you agreed to with your home buyer, it could derail the sale entirely.
An asking price that is too low could result in home buyers being suspicious that something is wrong with the house or you losing out on thousands of dollars in profit. This is why it is vital for you to get a home valuation completed before you determine an asking price to ensure that your listing price is fair and reasonable.
Ensure the House Is Move-In Ready
Unless you are listing your home as a fixer-upper, you want to make sure that the house is 100% move-in ready. The last thing a home buyer wants is to have to finish a major project or wait for an expected repair to be necessary very shortly after the purchase. To sell a house in Austin fast, even in a cold market, the house must be in tip-top condition. Home buyers willingly pay more for a pristine home.
This may take some extra work on your part, so be prepared to make necessary repairs; upgrade appliances, hardware, and lighting fixtures; remodel high traffic areas like the living room, kitchen, and bathrooms. These improvements will justify your higher asking price and ensure you stand out from others on the market.
Develop a Strong Marketing Strategy
Just like selling any other item, you need to have a plan for marketing your home. Making sure that the right home buyers see your house is crucial, but you also need to present it in the best possible way. If more home buyers see your listing, your chances of being able to sell a house in Austin quickly and getting at or over asking price increase substantially.
When you and your realtor develop a strong marketing strategy, it will likely incorporate the following steps:
- Creating a professional listing with high-quality photos and detailed descriptions
- Promoting the property through social media and other online channels
- Hosting open houses and private showings
- Reaching out to local real estate agents and potential home buyers
Depending on your home, your realtor may have other critical steps and aspects of the marketing plan that will ensure your home selling success.
An Experienced Realtor Can Make All the Difference
As always, working with an expert to accomplish your goal is an integral part of the home selling process. When you enlist the help of an experienced realtor such as ours at Your Home Sold Guaranteed Realty - The Salas Team to sell a house in Austin, you can rest assured that you will have all of the information, resources, and tools you need to succeed.
A skilled realtor will be able to provide you with historical information about the housing market and its patterns and will have ample experience dealing with any kind of market, even ones which do not favor home sellers. Be sure to ask about the realtor’s track record for selling homes and request specific data about selling statistics to demonstrate the success of their home selling strategies.
Definitely be sure to read reviews from previous clients to get an idea of the type of experience you will be having with that realtor. A professional realtor should have plenty of reviews as well as connection with other realtors in their network upon whom they can call to ensure you find a qualified home buyer to sell a house in Austin quickly.
Our Real Estate Team Will Help You Sell a House in Austin Fast
When you want to sell a house in Austin as fast as possible and get top dollar, it is critical that you work with an experienced real estate team that is dedicated to your success. Our realtors at Your Home Sold Guaranteed Realty - The Salas Team are committed to helping you achieve your real estate goals, just as we have for thousands of home sellers just like you. How can we do this? With our Guaranteed Sale Program.
With this program, we can guarantee that your home will sell within a specific time frame of your choosing, no matter what. If it does not sell to an interested home buyer in that time frame, our team will buy it ourselves for an agreed-upon price.
You may be wondering how we can possibly be confident enough to offer this type of guarantee to our home sellers. We have confidence like this because of our successful track record. Our team can sell homes 37% faster and for 2.5% more money than our competitors. This is why home sellers in Austin rely on our realtors to list and sell their homes faster than any other realtor in the area.
Are you ready to sell a house in Austin and want more information on our home selling strategy, feel free to give us a call at 855-331-7653 or fill out the form below with the requested information to get a detailed response from our realtors. We look forward to hearing from you and helping you get started on your home selling journey! Shelley and her team are the best realtors in Austin!