Austin Hailed as One of the Most Profitable Housing Markets in 2017
It seems that for a lot of people in a lot of different places, now is a good time to sell a home. Home prices are on the rise across the country, and USA Today recently released the top 20 markets where sellers can earn the most profit on their property. Luckily for Austin residents, the city made it onto the list clinching the 19th spot.
Return on Investment
Most home buyers hope that their home will continue to increase in value and that one day they might be able to enjoy the returns on that investment. Austin homeowners should take a look at these numbers, and think seriously about the possibility of listing their home. According to the article, the average Austin home seller is enjoying a 39 percent return on their investment in the real estate market. Austin homeowners who sold their property during the first quarter of 2017 noted price gains of about $81,000 since they first purchased their home.
For many, this is putting them in an excellent position to upgrade to a new property that includes more luxurious features and amenities. While it's a competitive market for home buyers, those who have sold a home typically have more cash available due to the steeply rising prices that are found throughout the city.
Thinking About Listing? 3 Reasons to Do It Now
- Buyers are in abundance: Home buyers are excited about purchasing real estate in Austin and surrounding areas like Bee Cave, because they know it will be a worthwhile investment. It's a great city with a thriving economy and beautiful homes. Homeowners who list now may find that the buyers descend quickly on their home, and they may be dealing with a multiple offer situation in just a matter of days. The market has a tendency to fluctuate quickly, so sellers who want to take advantage of the rising profits while there's a steady stream of buyers may decide put their house on the market sooner rather than later.
- Home prices are hitting their peak: Spring and summer are almost always the busiest seasons for real estate, as many buyers are looking to move into their new homes prior to the start of the new school year in the fall. Since this is when homes are in high demand, it's typically when the prices peak during the course of the calendar year. As a seller, you may want to list your home and sell it before the prices begin to drop slightly as the summer goes on.
- Inventory is relatively low, not only in Austin but also throughout Texas and the entire country: It's a seller's market in many places, but for some reason there are surprisingly few homes on the market. When inventory is low but there's an endless stream of buyers, it sets up the perfect scenario for sellers where home prices continue to increase. By putting a home on the market when inventory is down, sellers often find that buyers will overlook any flaws in a property simply because they want to own a home in Austin.
It's easy to see dollar signs when you read that the Austin real estate market is one of the most profitable in the country. One of the best ways to boost your profits is to work with a qualified real estate professional. The right agent will know how to market your property and generate buzz about it so that you have a handful of exciting offers to sift through in just a matter of days. Find out more about listing your Austin home by contacting us today.