Real Estate Market Continues Its Upswing
It’s a home seller’s market in Austin, and it probably will be for some time.
The Austin Board of Realtors says the price of homes and the volume of home sales in the area are both still going up. In fact, more homes were sold last month than in any September since 2006.
There are also fewer homes for buyers to choose from. The inventory of homes for sale in Austin is the lowest it’s been in the past decade.
“Right now, agents in our office and speaking to agents across the board, it’s not unusual for there to be two, three, sometimes five offers on a property,” said Leonard Guerrero, chairman of the Realtors group.
The number of new leases in Austin actually went down 12 percent from last September. Guerrero says that just represents the shortage of rental properties in Austin.