As many home buyers in town are likely to have noticed, there aren’t too many for sales signs around anymore.
According to a report released Friday by the Austin Board of Realtors, home sales in the area remain strong and have continued to rise for 19 months straight.
“It’s a lack of availability,” home buyer Daren Nix said. “There’s such a tight market.”
Those are some of the challenges Daren Nix is facing as he searches for a home for his family.
“When you find something or see something you like, you have to be able to move quickly,” Nix said.
Daren’s realtor, Debbie Harmon, says she’s seeing multiple offers on houses in a short amount of time.
“I went to see a house a few days ago that had just come on the market,” she said. “I called to get the code to get in, and the agent said we already have two offers on the house and it hadn’t even been on two hours.”
To give you even more insight on how fast homes are moving, a report from the Austin Board of Realtors shows 1,828 homes were sold in December. That’s a 17 percent increase over last year.
“There’s not a better time to buy a house now because of interest rates and because of how Austin is growing,” Harmon said. “Right now, we’re thinking prices will only get higher. They’ve gone up significantly just in the last few months.”
The latest median price for a single home is right around $210,000.
“We would be in a seller’s market,” Harmon said. “We’re in one right now.”
Fortunately for Nix, he’s not only a buyer, he’ll soon be a seller as well.
“Getting our house ready to sell, we just had to do a lot of kind of minor things, updates and repairs that are needed so that when we put it on the market, it will be ready and hopefully sell a little quicker,” Harmon said.
To see the complete report released by the Austin Board of Realtors, go to AustinHomeSearch.com.