If you have been watching my videos, you know that we ventured about 20 miles south of Marble Falls to check out the renowned Christmas lights in Johnson City. It was well worth the trip. Pedernales
List v. Sales Price - October
Dated: November 4 2021
I continue to track the difference between the list price and sales price of homes month over month in Horseshoe Bay and Marble Falls. By using the average as a data point in determining the strength of the local real estate market, we can determine in real time trends and help buyers craft offers and sellers accept them. For the month of October, across all price ranges, we are seeing a trend towards sales prices cloising under list prices.
Overall, the numbers are similar to what we saw in the spring. Generally, sellers were receiving just under asking price. Over the summer, the trend was that sellers received at, or just over asking price, during that hot seller's market. The market has trended back towards buyers paying just under list price - generally, within 2.5% of ask price, except in the luxury market in Horseshoe Bay where homes asking over $1 million closed on average 5% below list price.
More October statistics will be avaiable in a couple of weeks. I would expect that the data will continue to indicate a slide towards the buyers. This is not uncommon during this time of year. Although I would anticipate that we will still be in a seller's market, I expect it to be much closer to a stable market than what we've seen since last winter. The cities - Houston, Dallas, and Austin continue to have hot seller's markets that are driving the overall Texas Real Estate statistics that you are seeing and hearing on the news. We are not in the same intense seller's market as those locations. Now is a much better time for buyers than it was earlier in the year. So, with inventory on the rise and prices stablizing, now is a great time for buyers to jump back in. As for sellers, it is still a seller's market, so I wouldn't wait too much longer if you plan to list your home this year.
Hi there! Thanks so much for stopping by. I look forward to working with you. Although I am not a native to Texas, I have now been here for over 20 years. I was introduced to Horseshoe Bay in 2000 and....