You did your home selling research by watching numerous episodes of Love it or List it on HGTV. With 150 people a day moving to Austin, you felt like your house should sell quickly. (Heck, it can’t be that hard to sell a house, right? — HGTV makes the process look pretty easy.)
Vaike O’Grady, Austin regional director for MetroStudy
- You have had 10 showings and no offers.
- You have gone an entire month with zero showings.
- The feedback you received from showings is that the list price is too high.
- Low online activity.
- You have received a few offers. None have worked out because the offers were “too low” for you.
- Other homes in your neighborhood are selling, but yours isn’t.
Luxury homes of $1 million or more typically take longer to sell. According to the 2017 Texas Luxury Home Sales Report by the Texas Association of Realtors, last year there was an inventory of 6.6 months for Austin homes priced in the seven figures — the highest inventory of any price class.
Most luxury homes can take over a year to sell.Austin Business Journal July 2018