I recently signed up for a research tool that allows me (and my clients) to keep up with what's happening in the market. Now I will be the first to admit that you don't have to be a real estate agent or an expert on the Kyle Market to know this is not the opportune time for sellers to put a house on the market. So why pay for a fancy shamsy tool? Well I figured I would spend some time learning about the tool, playing with the charts and finding new ways to explain it. More importantly I'll see the nuances of the market, those slight dips or hopefully see the very beginning of the line working its' way back up.
But I do find that seeing the data I work with every day put in a graphs is interesting and very ...well...graphic. What's that old expression "A picture paints a thousand words"? Well here's a chart that captures Kyle Texas Real Estate Market in a nutshell. (For those of you wanting a more complete explanation of this chart see below.)
I looked at the chart for Kyle, Buda, Wimberley, San Marcos, Driftwood and Dripping Springs and you know what...they all look just about the same. Buda and Kyle in fact are so similar without the city name you'd mix the two graphs.
So to all of those buyer's out there thinking maybe they should wait a little longer to save that extra down payment...I'd say don't wait. Check with your lender, the little difference that extra 5-10k will make in your monthly payment will be more than offset by the lower price that you are likely to pay for a home if you purchase now versus six months from now.
And to those sellers out there...If there is someone on the fence wondering if now would be a good time to sell when you don't really have to...think again. Between the holiday season, the election and the overall uncertainty in the economy now is not the time to sell. HOWEVER if you don't have a choice, you are relocating and have to sell the home. Now more than ever find a agent out there (preferably us) that will help you get top dollar. Yes there are those buyers out there that smell the blood and are low balling on their offers. But there are others who still want to "fall in love" with a house and pay a fair price. Make sure your house is staged and ready to help the buyers fall in love.
Now more than ever you need an agent to be your partner, one that will be HONEST with you. I have lost many a listing because of my honesty. But I'll save that for another blog.
If you like charts and numbers and want to keep abreast of the Kyle TX real Estate Market, or any other Hays county market...complete the contact form below and we'll get you on the mailing list to receive the charts. And if you think you might be ready to jump in and purchase a home, head to our website www.adkor.net and check out our homes for sale by subdivision pages for some of our featured communities...you can click here for a list of all of the current Homes for Sale in Kyle by subdivision.
Explanation on the Market Action Index Chart
"Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors.
"The Market Action Index (MAI) illustrates the balance between supply and demand using a statistical function of the current rate of sale versus current inventory. An MAI value greater than 30 typically indicates a "Seller's Market" (a.k.a. "Hot Market") because demand is high enough to quickly absorb available supply. A hot market will typically cause prices to rise. MAI values below 30 indicate a "Buyer's Market" (a.k.a. "Cold Market") where the inventory of already-listed homes is sufficient to last several months at the current rate of sales. A cold market will typically cause prices to fall."
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