Austin Home Buying: Fall into a Deal
As the market cools with the weather, it’s time for savvy home buyers to look at buying a house in Austin.
If you’ve been following the news, you’ll know that this past summer set new records in Austin home buying and selling. According to the September report from the Austin Board of Realtors®, the market was on fire: the median home price topped $300,000 and Austin home sales volume topped $1 billion four consecutive months in a row.
But even with the heated summer market, the fact remains that Austin real estate is cyclical, and savvy home buyers should be ready to pounce from now until the spring.
In Austin, the real estate market typically starts to slow down in September, with a slight bump back up over November and December (as people take advantage of the holidays to move), before it gets quieter again through March. The spring/summer selling season starts to ramp up in April, and goes all the way through August.
It makes sense. Late spring and summer tend to be the most popular times of year for buying and selling Austin real estate for numerous reasons, including being a more optimal time for families with children to move, as it falls outside of the school year.
But people don’t stop moving in the fall and winter. While there may be fewer homes hitting the market, there’s also much less competition, which means that it’s a great time for buying a house in Austin. And with the market cooling slightly, savvy Austin home buyers know they’re likely to find more motivated sellers. So if your moving date is flexible, fall can be an excellent time to get a great deal on Austin real estate.
Here are some things to keep an eye out for if you’re planning on buying a house in Austin in the coming months:
Austin Home Buyers Should Look to Unsold Properties
This should be your first port of call when looking to buy in the fall. Talk to your Realtor® about homes that have been on the market for a while. Even with the frenzy of buying over the summer, some properties will inevitably slip through the cracks. This is an especially good strategy for an Austin home buyer, who doesn’t mind taking on a property that might need a bit of work.
Buying a House in Austin When Relocating
Austin is a harbor for companies looking to relocate, and people always have to move unexpectedly for work. In this situation, or for a variety of other reasons, you may be looking for a quick sale. If you’re moving to Austin, have done your research and are ready to buy, a situation like this could make for a perfect opportunity for buying a house in Austin. Your Austin Realtor® is the expert here — they’ll know the market, and in most cases, they’ll also know the sellers’ agents, so they can help guide you towards Austin homes that might be a quick bargain.
Unlike families with school-aged children, those looking to downsize, or retired people, don’t always have as many reasons to move during the summer, so homes being sold by those who are looking to downsize will hit the market year-round. These properties can be a great opportunity if you’re buying a house in Austin, especially if you’re looking for heritage homes in established Austin TX neighborhoods. The same goes for family estates — not everyone wants to wait until spring or summer to finalize a sale on a family home.
Strategize with Your Austin Realtor® on Buying a House in Austin
These are just a few examples of the kinds of bargains you can look for when buying a house in Austin over fall and winter, when the market starts to slow down. As always, your Austin Realtor® can assist you with your Austin home search and navigating the Austin MLS, give you guidance and help you come up with a plan to find your perfect home in Austin, no matter the time of year.
And if you’re looking to sell, there are advantages to getting out of the hustle and bustle of summer. Given the surging local job market and the rate at which people are looking to relocate to the area from all over the country, there are prospective Austin home buyers looking year-round. As the available housing stock on the market tightens through fall and winter, this could be the time for your home to shine.
If you have any questions about selling or buying a house in Austin, the team at Habitat Hunters is here to help. Our agents are some of the most knowledgeable and experienced real estate professionals in Austin, and we’ve been helping sellers and buyers since 1972, so contact our Austin real estate agency today and get started on your Austin real estate journey!