WE’D LOVE TO HELP!

Click Here to Get Started

OR

Call 512-883-5445
2300+
Reviews

May 2021 Statistics: First Look

user

Jun 07, 2021

We’ve run first look statistics for the month, which are available below. But first: Is buyer demand beginning to shift? We’ll take a deeper look at this later in the month, but we’ve observed the following:

It’s important to understand that these are very early indicators that can predict future inventory trends, but they do not guarantee those trends, and timing is still difficult to predict. Likewise, a softening of demand does not indicate prices decreasing. Our internal discussions are over how much prices will continue to increase and we believe that a softening of demand will simply return us closer to historical appreciation rates in the 5-10% range.

May 2021 Statistics
Unsurprisingly, the May 2021 sales statistics were phenomenal.

The Tri-County Area saw Avg Sold Price increase +46.25% and Median Sold Price increase +42.64%. It’s now safe to say that a comfortable budget to buy in the Austin Metro Area is ~$500k. The City of Austin saw just as phenomenal growth with Avg Sold Price increasing +47.98% to just under $760k and Median Sold Price increasing +41.18% to $600k. Days on Market in both areas now sits at 5 days.

This month, we began tracking Month Over Month (MOM) average price trends. In the past, we’ve ignored MOM because the real estate market is so seasonal. It’s very normal to see prices ~5% higher in the spring/summer than you will in the fall/winter. However, we’re now seeing incredible, rapid growth. We wanted to see what is happening to Avg Sold Price on a monthly basis. Unsurprisingly, it’s moving up quickly. Since January, we’ve seen prices increase +29.42 in the Tri-County Area and +27.02% in the City of Austin.

What does it all mean?
We believe that we’re settling into “new pricing” for the Austin metro. Because we’re continuing to see prices increase on a monthly basis, we don’t yet know what that new pricing is. We’re waiting for 2-3 months of relatively consistent pricing and we’ll then hesitantly report “this looks like the new pricing.” We believe that we’ll see consistent appreciation in the 5-10% range after we settle into that new pricing.

As always, if there’s anything that we can help you with your specific situation, please don’t hesitate to reach out!

 

user
About the Author

Last updated: 06/07/2021

MORE READING

Christopher Penaloza

Christopher Penaloza

JC was very helpful during the process of buying my first home. He directed me to lenders that truly had my best interest at heart. I almost made a few bad decisions that JC was there to wave off for me. I truly appreciate JC's responsiveness to ALL of my many questions and his willingness to be a sounding board for my frustrations in the process. I still hear from JC from time to time ensuring that I am happy with my home and letting me know of up and coming business in my area that might affect my property value. I will absolutely be using JC to purchase my next home.
LanceLunsford

LanceLunsford

JC does a great job with attention to detail and ensuring he has answers to your questions as you navigate the process of a home purchase. JC understands the process of the transaction in a home purchase and makes sure the details are covered.
Christopher Dunn

Christopher Dunn

Ruth helped us to view many houses and (over months) to make multiple offers in a really, really tough market for buyers. Our low bids were our own fault! Ruth's guesses are always spot on. We finally had a bid accepted last month, and Ruth helped us re-negotiate after significant problems were discovered. Ruth has gone above and beyond for us, giving us far more time during this long search than we could reasonably have expected. She even helped us look for a rental when we'd basically given up. Her advice has always been immensely valuable and brutally honest. She is the most knowledgeable agent I've met on the Central Austin market. She also handled our stress well, and believe me, buying in Austin right now is stressful!
Jerry Nash

Jerry Nash

Excellent service and follow through. Very professional!
Steve Sanders

Steve Sanders

I highly recommend Kristen for all real estate needs.
Danielle Hughes

Danielle Hughes

I had a great experience working with Bramlett Residential Real Estate. Jean Holm was my agent and she & her team made the whole process very simple. She explained everything very well, was knowledgeable, had great advice, and got our home sold. Definitely reccomend!
Jeremy K

Jeremy K

I worked with Jeremy Vandermause to buy my first home. Jeremy was so patient throughout the process (which I definitely dragged out as I gathered all the facts). He consistently sent me homes I was interested in and was eager to show them off, and on the odd occasions where I found one he hadn't already seen he always made himself available to walk through with me. He was very helpful in those walkthroughs pointing out home features I would have missed, or providing context on neighborhood. As a native Austinite, he definitely knows the history and cultural fabric of the city and each neighborhood. I started with close to zero knowledge of the home-buying process and Jeremy walked me through every step with clarity and patience. So excited about the home I now own! Plus, he's just a legit cool dude. I always really enjoyed our conversations and could tell from the start he was someone worth knowing in Austin
Jian M.

Jian M.

This review is about Joe Gage, their real estate agent. I'm based in Sam Francisco and was looking for investment property in Austin. I tried out three different agents based on recommendations from different sources, including Yelp. Joe clearly stands out. He's very patient and responsive. I'm not familiar with the area at all thus had a lot of questions. His email reply contains detailed information of the neighborhood, including shops nearby, schools and so on. He regularly screen houses and give recommendations once he sees a good fit for investment house offered at reasonable price. He's very knowledgeable about the area. All his recommendations comes with details around why he thinks it's a good investment and sales/rental data in the neighborhood to justify the price he thinks it's worth as well as the expected rental income. I found him to be very methodical and organized. He's not a typical sales person. Maybe this is because he used to be an accountant. Needless to say he earned our trust and we went with him to make the purchase. I was very impressed through the whole process. He's very calm and never pushy. His recommendation on the bid price was right on and he was very good at following up with various parties to push things through. The process went through very smoothly. If anyone is looking for a good real estate agent in Austin, I'd recommend Joe whole-heartedly. His professionalism and calm personality make him a real pleasure to work with.
Click Here to Read All Reviews

MORE READING

Neighborhood Guides

Popular Searches