While the number of homes sold is up about 7% over the 1Q of 2020 we are actually DOWN 22% from where we ended in the 4Q 2020. This is due to a lack of inventory—lots of buyers in the market and no homes to sell.
Year-to-date Average Sold Price increased 32% to $554,481. We are still seeing homes going into multiple offers and selling over asking.
Listings are down 78% from this time last year! For the last four(4) years, we have averaged about 6,300 homes for sale this time of year. Today, we have about 1,200.
There is currently 0.4 months of inventory on the market which is a very strong sellers market. Six (6) months of inventory is considered a normal, balanced market.
Call me at 512-657-4455 if you would like to know more about your specific situation or sub-market. I would love to hear from you and help guide you through your real estate decision!