The Market Reports are out for the month of August and the biggest takeaway is that inventory is continuing to increase. Up from a July low of about 45 days, we are now looking at over two months in
Market Report, March 2021
Dated: May 29 2021
The Real Estate market in Horseshoe Bay, Marble Falls, and the surrounding Highland Lakes Area continues to be a strong seller's market. Many homes are receiving multiple offers and going under contract quickly. Long closing, contingencies, and other conditions that weaken buyers' offers are losing out to cash and/or quick close offers.
Furthering the strength of the seller's market is the shortage of lumber which is causing delays and increasing the price of building. As a result, builders are not able to help to increase inventory, so supply continues to be low. That said, there is a bit of a land grab occurring as people are scooping up vacant lots in all price categories, particularly in the lower priced ranges. It would seem builders are going to be busy for a while supply chains recover from the pandemic.
Some good news is that this is not everywhere around the lake nor is it in every price range. Kingsland, Llano, and Granite Shoals seem to have a little more inventory than Marble Falls and Horseshoe bay while higher priced homes around the lake continue to wait for the right buyers to emerge.
So, what's the answer? For now, it is to be prepared to make an offer quickly. If you are looking to finance because rates are still low, please understand that the wait time on appraisals is 4 weeks or more. This is slowing the process and frustrating buyers and sellers. If you can bring a cash offer and are willing to offer at or above list price, you have a good shot at having your offer accepted. If you need to finance, you will want to be pre-approved before you make an offer and be prepared to make an offer over asking price.
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....