Business Week Votes Austin 7th Best Housing Market (Dallas, San Antonio: days on market, sales)

[llkltk]

Another article for the naysayers.

http://realestate.msn.com/slideshow....5&imageindex=7

[nativeDallasite]

Originally Posted by llkltk

Another article for the naysayers.

http://realestate.msn.com/slideshow....5&imageindex=7

Again, this looks at median price only. That does not mean that the value of your home went up by that amount. Depending on where it is and what kind of house it is, it could even have gone down.

Good luck when you try to sell.

[llkltk]

Our price did, and it's in an area that is in high demand.

[nativeDallasite]

Originally Posted by llkltk

Our price did, and it's in an area that is in high demand.

Best of luck then. I know people in DFW (whose market is also still rising) who are having serious trouble selling houses in "hot", "high demand" areas like Plano, Frisco, and McKinney.

[llkltk]

Dallas is totally different than Austin. Not the same at all.

[nativeDallasite]

Originally Posted by llkltk

Dallas is totally different than Austin. Not the same at all.

Like I said, best of luck. Those statistics can be misleading. We keep hearing that DFW has a "strong" market, just like Austin...but the people I know here tell a different story. Ditto with San Antonio, which I keep hearing is one of the strongest markets in the country but wasn't even on that list.

If you want to know what's going on in the Austin real estate market, talk to real estate agents in Austin; don't depend on lists designed to sell magazines in particular markets.

[DarleneMontgomery]

Austin is still strong. The average sales price is up from 2006. Almost every mls area of town has increased over the past year. Very few areas have decreased in average sales price. Average days on market is longer due to time of year and some to do with the slight slow down of transfers from out-of-state, but seller's are still getting more than this time last year.

[nativeDallasite]

Originally Posted by DarleneMontgomery

Austin is still strong. The average sales price is up from 2006. Almost every mls area of town has increased over the past year. Very few areas have decreased in average sales price. Average days on market is longer due to time of year and some to do with the slight slow down of transfers from out-of-state, but seller's are still getting more than this time last year.

Straight from the horse's mouth!

That's the situation that my city in England was in when I put my house on the market in November 2006, but I had to drop the price by 10,000 pounds and ended up taking an offer that was 19,000 pounds less than what a very similar house nearby sold for in summer 2006. The house was on the market for six months and selling it was agony...pure agony.

[austin-steve]

Originally Posted by DarleneMontgomery

Austin is still strong. The average sales price is up from 2006. Almost every mls area of town has increased over the past year. Very few areas have decreased in average sales price. Average days on market is longer due to time of year and some to do with the slight slow down of transfers from out-of-state, but seller's are still getting more than this time last year.

But also it is in fact the case that many, many homes are not selling in Austin. Almost as many fail to sell as do sell. So, for those that properly prepare the home, price is right and market it agressively, it is a good market. Then there are the homes that never sell, and thus do not show up in the sales stats because they expired or were withdrawn.

It's a strong market as a tightrope is a level walking surface. It is also very dependent on the area of Austin and the type and price range of the home. Closer in does better, further out is a tougher sell. Midrange ($200K to $400K) is selling better than the other ends (both high and low) of the price range.

Steve