Earlier this week, those of you on our newsletter subscription list received some information from us via Gary Keller at last week’s conference here in Austin. We wanted to follow up on that for you.
Mr. Keller offered up the following:
- Signs of a shifting market include days on the market are up, the supply of move-up and higher end housing is now growing, home prices are going down in some markets, unit sales are slowing and construction is flat.
- He also said that, “we are now seeing many markets split by price point. Entry-level homes remain in a seller’s market, but some luxury and move-up markets show signs of shifting
I decided to apply this information to our local Williamson County market. The net: the total number of price reductions are not up looking at the last three years. However, when I review the upper price bands: $400 – $500,000 and $501,000+ I see signs that sellers are reducing their prices to meet market expectations.
Here’s the data (compiled from research I did using the ABOR MLS):
Note the increases in red. We’ll continue to monitor any market changes and advise you going forward! If you have specific questions about your property – please call or email. Or you can always log on at www.WilcoHomeValues.com and provide your address and contact information. We’ll provide data to you asap!
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