GREAT REAL ESTATE
NEWS: The River
North Area of Austin had its
3rd best closings for an August over the last 7 years. In a
market like we have been involved in, this is a wonderful statement to
write to you. Moreover, home inventory up to the $600,000's
are now in or entering a "normal" market with less than 8 months of
inventory (MOI). (Months of Inventory is
the amount of months that it would take to sell the existing listings
with no additional homes on the market. Most economist
believe that 4-6 months is normal but the RN area has historically
been a tad above 6 months of inventory even in good years; EDeconomic market.
Until we see actual job growth, this sector should remain as
the best buy sector. Thus, if one can make the jump into this
sector, long term potential looks phenomenal.
Here
are a few key points of interest:
River
Place sales are back to normal levels and inventory is nearing a 15
year low set last year
Steiner
Ranch sales were up a staggering 33% from last August with inventory
down a staggering 23% (HUGE NEWS)
4 Comments on Real Estate Sales in Austin, RN: 3rd Best August in 7 years!!
SEP
06
2009
Great information. It was presented that million dollar sales are doing better than $900k sales because people, in today's market, want to be able to tell their friends that they bought a million dollar house, so those people sitting at $950k or $999k, need to bump their prices up to $1M and see what happens.
Thanks. It has been fun having a couple of buyers in the mid $1 million range. They are from CA and are shocked at what they can get for the buck. So many will look back and say "why didn't we buy that house back then....."
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
;)
;)
Great information. It was presented that million dollar sales are doing better than $900k sales because people, in today's market, want to be able to tell their friends that they bought a million dollar house, so those people sitting at $950k or $999k, need to bump their prices up to $1M and see what happens.