If you’re planning on selling your home in Austin, the price that you get depends on what time you choose to sell. Owing to many reasons, the real estate market in Austin is known to fluctuate throughout the year. Read on to know when you should list your home.
If you are considering putting a house up for sale in Austin, it’s likely you have thought about what time of year is the best to do so. The timing in which you sell your home can greatly influence how much money you receive for it and how quickly it will sell.
This is due to seasonal fluctuations in demand that change how willing people are to buy a home. In general, home sales spike during the spring and summer. However, this information is very broad.
There are usually a few specific date ranges that prove best for each city. This is usually a result of local climate, job opportunities, and the real estate market.
Therefore, when trying to time the sale of your home, it’s best to hire an expert local real estate agent who knows all about your city and its real estate market. That being said, it’s never a bad idea to do some basic research. So, here’s what you need to know.
Best Time to Sell in Austin
According to regional housing market data, the value of homes in Austin has been steadily increasing over the years. In fact, homes on average have gone up a rapid 7.6% in this past year and are expected to continue rising through 2020.
This is likely due to Austin’s high salaries and job availability. Tech giants like Apple have been developing spaces to work due to Austin’s low cost of living and high talent pool. Housing data suggests that there are certain periods in which sellers will see better results.
If you are trying to get the most money, you should list your home at the beginning of May. Homes take a little less than two months to sell through. Listing your home in May will get it sold in June at around 4% above the yearly average.
However, if you are trying to sell your home quickly, it is important to look at which months have homes on the market for the least amount of time. Listing your home in June is the best time to list your home for quick selling.
Listing anywhere in between May and August will get your home sold faster than the average two month period.
You may be wondering why homes sell better in the late spring to summer period. The market data for 2018 suggests that there was a shortage of houses. Many home shoppers were unsatisfied with their options and remained as potential buyers late into the season.
Given that these people waited a long time, they paid more for their homes in a rush to finish the buying process within the year.
Key Factors That Help Austin Homes Sell Faster
Now that you know when to sell your home, it is important to understand what will make your home sell faster.
In Austin, the job market has a huge hold on real estate prices and speeds. With the job market growth on the rise in Austin, it is apparent that people are moving in due to their career. This makes the location a high priority.
Distance From Place of Work
Home buyers are looking to decrease the distance between work and home. This is likely due to the increase in traffic from population growth. Austin residents also prefer the walkability of a neighborhood. Be sure to inform your clients of any parks, trails, or coffee shops nearby.
Buyers also place a large concern on maximizing space. Be sure to declutter the house before putting it on the market. Potential buyers are extremely visual and want to picture the house as their own. The larger the house seems on the inside, the more likely they are to buy.
Maintenance and Design
Austin residents also prefer a low maintenance interior. Durable features like quartz countertops and wood tiles are currently popular.
The interior design also has an impact on potential buyers. A popular trend right now in Austin features white cabinets and color schemes. This gives the home an open, efficient feel.
Tips For Maximizing Your Profits When Selling a Home in Austin
Consider Your Specific Market
As mentioned before, certain factors make a home more appealing to a buyer. Be sure to emphasize how amazing the community is along with nearby destinations. For some, you could mention the great outdoor space while for others you could mention work commute distances.
It is also important to get an accurate valuation of your home to get a different opinion on how much it is worth. Be sure to have your realtor conduct a competitive market analysis (CMA). This involves comparing your listing to other current or past listings in the area.
If you’re keen on saving some money, you can also do it yourself. All these processes will give you an idea of what the current market price for you home can be.
Make Impactful Repairs and Renovations
Completing needed repairs and renovations make your home much more attractive to prospective buyers. Would you buy something that you know has problems? Austin residents especially consider the outside appeal that your home gives.
Any roof, sprinkler, or landscaping repairs should be done immediately, as they can take up a decent amount of time. These repairs usually cost less in the winter due to the drop in demand for repair vendors.
Remember that the goal of repairing your home is to ultimately make money. It is important to ensure that the repair will add more value to your home than it is actually worth.
Also, finishing any repairs early will speed up the closing process, meaning home inspectors will also have much less to worry about.
Find a Great Real Estate Agent
Remember that maximizing profits on a home sale requires more than timing the market correctly. Make sure that you are doing everything to get the best possible price. As much as you love your home, the goal is to gain maximum profits.
Hiring an experienced real estate agent is crucial for receiving an optimal outcome. They are a licensed professional for a reason. Real estate agents can provide valuable neighborhood knowledge, price guidance, and market conditions.
They also take a big amount of strain off the entire process serving as the middle man that negotiates with potential buyers.
One way to hire an excellent local real estate agent is to get in touch with a Clever Partner Agent. They are fully licensed, they will manage all the negotiations, and paperwork too. What’s more, Partner Agents work on a flat fee of $3000 or 1% if the home sells for more than $350,000.
Clever Partner Agents also offer a no-obligation consultation so that you know all the details of the transaction before committing yourself. Given that Clever only partners with the very best agents in any area, you can rest assured that your home will get the top dollar price that it deserves.