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
The Market Softens...
Dated: August 17 2021
I have been writing for a couple of weeks now that there is evidence of the market softening just a bit. I continue to hear the same from local agents and agents in other parts of the state as well. Although still a strong seller's market, it is not quite the frenzy that it was in the early and mid summer. The inforgraphics below, compared to the same reports for the month of June (can be found in a blog post from July) illustrate that this is indeed true.
In Marble Falls and Horseshoe Bay, as well as Meadowlakes, inventory is on the rise. The change is not dramatic, but it does show a shift in the buyer's favor. Homes are staying on the market just a bit longer and there are fewer offers coming in on each property. This isn't to say that buyers have a lot of time, but it does mean that buyers might have a chance to take a breathe before making an offer. One caveat, particularly in Horseshoe Bay, homes over $1 million can skew the data a bit as they tend to stay on the market longer. There is still significant competition for homes under $500k.
A note on inventory - in order to decipher this inforgraphic - 4-6 months of inventory is considered a balanced market. Less than 4 months is a seller's market and over 6 months illustrates a buyer's market. So, as you can see for yourself, it is still a pretty strong seller's market, just not quite as strong as it was last month. As we head into the fall, we would expect the market to continue to trend towards a balanced market. That said, last fall saw the market begin to shift pretty dramatically from a buyer's to a seller's market, so it's hard to predict what the fall will bring 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....