I'd like to provide you with an update on the current real estate market trends. In March, we noticed that pricing decreased by approximately 10 to 12%, while pending homes decreased by about 25 to 30% compared to last year. Nevertheless, inventory is still growing, which means more choices for buyers.

The number of days a property stays on the market has also increased from 15 to 74 days. However, what's interesting is that the homes that are selling are showing a "tale of two different markets." Let me explain.

Last year, from June of 2020 through June of last year, we experienced an extreme seller's market where price and condition were not a significant consideration. But now, with interest rates hitting over 6.5%, we're seeing a shift in the market.

Today, price and condition matter. Price matters because of the interest rates, and condition matters because of the amount of inventory available. So, knowing how to price and present your home is critical.

As a seasoned real estate consultant with 29 years of experience under my belt and having navigated through a few recessions, I can guide you on how to price your home correctly and recommend the right updates to maximize its value in today's market.

Even though we're experiencing some market shifts, we're still seeing multiple offers on different properties. If you have any questions about what you should do to your home or any other real estate concerns, don't hesitate to reach out to us at 512-261-1000 or visit AustinTexasRealEstate.com.

Let us help you navigate the market and make the most of your investment. 

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