I can attest, inventory is low. In the current real estate climate, I’m counseling buyers to be prepared to move quickly on pulling the make an offer trigger when they find a house they like AND that there is a high probability they may need to pay more then list price. Of course, it all depends on the property– how well it’s priced and location — but you get the drift. This vibrant, bountiful employment city of Austin is still the place to be.
An expert from the Austin Board of Realtors Site:
Steady gains in January home sales signal strong year ahead for Austin area
In the city of Austin, the median price for residential homes experienced a double-digit percent increase of 13.5% year over year to $384,750. Residential home sales increased 0.6% to 638 sales and sales dollar volume increased by 8.2% to $290,628,094. During the same period, new listings decreased 10.6% to 960 listings; active listings dropped 32.5% to 1,099 listings; however, pending sales rose 8.6% to 956 pending sales. Monthly housing inventory decreased 0.5 months year over year to 1.1 months of inventory.