Here’s how to determine if we’re in a buyer’s, seller’s, or normal market.

What kind of market do we have here in Austin right now? To find out, we look at the absorption rate and the number of homes on the market. So if we have less than three months of inventory on the market, we know we’re in a seller’s market.

“We’re not yet in a full buyer’s market, but we’re moving towards a more balanced market.”

If we have more than six months of inventory, then we’re in a buyer’s market, wherein buyers have more homes to choose from. Right now, more homes are coming on the market, and interest rates are going up. We’re not in a full buyer’s market yet, but we’re moving towards a more balanced market, which is between three to six months of inventory.

In summary, under three months of inventory is a seller’s market, three to six is balanced, and over six is when we go into a buyer’s market. We want to price accordingly. We want to see what’s happening specifically in your neighborhood right now—how many homes are on the market and how long they’re taking to sell—then we look at the particulars of your home. For example, when you have that extra third or fourth full bath that other homes don’t, we’ll use that to your advantage in price on the higher side.

If you have more questions about what kind of market we have today or have any real estate-related questions, call or email me. I’d love to connect with you!