I’ve been helping people buy and sell homes for over 16 years in Austin and this is the lowest housing inventory I’ve ever experienced.  An offer on a house I submitted for a client last weekend ended up having 35 offers. Unfortunately, multiple offer situations are becoming the new norm. 

On average, the statistics are showing year-over-year the Austin market has appreciated by at least 20% from January 2020 vs. January 2021. Simply put, last year what would have sold for $500,000 in January 2020 now would have sold for $600,000 in January 2021.  To give perspective on the appreciation, in the past the Austin market generally sees about a 5-6% appreciation rate year-over-year. 

You may be asking, “When is a good time to buy?” My answer, “Now! If you can find a house and get it under contract.” Homes in Austin aren’t getting any cheaper.