Sellers: The State of the Austin Real Estate Market

by Heather Tankersley
It seems that at the beginning of the year, there are always “experts” making predictions of various sorts, so I thought I’d share a little bit about what’s going on in the greater Austin area right now and give you some things to consider over the coming months!
I guess we can call it “The State of the Real Estate Market” in Austin!

success.pngIf you’ve been considering selling your home at any time over the past year, you’ve probably been keeping a close eye on the state of the Austin real estate market.

First things first, real estate is local… In fact, it’s HYPER local! In other words, what’s happening in your zip code, or even your subdivision within your zip code is the main set of stats that you’re looking at!
Last weekend, I saw a post on Facebook about an agent who received 97 offers on her listing (yes, 
NINETY-SEVEN). Don’t worry. That is NOT the norm, but the point is, it did happen!

I did have clients who were one of 18 on another home…

Yet, I had another client who had one offer (it was above asking, but the point is that every home, every neighborhood, and every situation is different.

We’re appreciating pretty rapidly across the entire Austin MSA, which includes Travis County (Austin) and surrounding counties as well. But, some areas are certainly lighter on inventory than others and certain price points are more competitive than others. So this MAY not all necessarily apply to your situation!

So what does all this mean for you?

Here are 6 Things to Consider if You’re Thinking of Selling in 2021

1. You’ve Got to Have a Plan! Sure, you may have decided that it’s the year to sell your home, but do you need to wait for a child to graduate from high school? Are you just looking for a new home in the area and need to consider your purchase strategy? Is there any work or are there any updates that would make sense to do to maximize your profits? And so on!

2. Just Because It’s A Hot Market Doesn’t Mean You Can Name Your Price! I’m sure you’ve heard of a friend or neighbor who got $10K, $20K, $50K or more over their asking price. While that’s certainly possible (and even probably in certain areas), it doesn’t mean that you can just throw your house on the market for whatever price you’d like and expect an offer for more than asking.

In fact, my neighbor did this precise thing. In our 5500-home community, as of 3 days ago, we had 2 homes (yes TWO) on the market. She listed hers for about $100-$150K higher than she should have. And, believe me, nobody would like her to get that more than me!!! But, after a couple of weeks, she’s had to lower the price because it’s just plain overpriced. End of story!

3. Position Your Home in the Best Light. There is a complete strategy to listing your home and getting the most out of it (and/or the best terms for you like a leaseback, for instance). This starts with a repair punch list, a “home edit” list, and a staging plan. It is a very detailed process, but it’s how we get the best price for your home! The process generally takes about 4 weeks from start to finish, but we can do it as quickly as we need to! In some cases, we can move through the process in a single weekend!

4. Make Sure You Have A Marketing Partner. Marketing is truly at the core of a successful sale! It’s not enough to pop a sign in the yard and put it online. To get the best exposure, you need to have a clear pre-marketing strategy and “opening week” campaign, followed up with a 6-8 week ongoing marketing system in place in the event that your home is one that will take a bit longer to sell (this could be the condition, price, location, functionality, etc.). The marketing has to continue until the sale.

5. Understand What Will Be Expected of You During the Contract Period. Beyond things like showings and access TO the home, there may be some other documents that you’re responsible for or actions you need to take. It’s best to have that ahead of time so that you’re not under pressure when you should be packing and moving! No matter how prepared you are, packing and moving are STRESSFUL!

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6. Consider Your Next Steps. A lot of sellers I talk to are worried that they won’t be able to find something if they sell their home. And, I wish I could tell you not to worry… but we definitely have a supply and demand issue, so I can’t necessarily say that!

That being said, there are a lot of options depending on why you want to sell and some simple strategies we can employ that will make it much easier and take a lot of stress of you during this process. We have 3-5+ different scenarios depending on your situation. We just need to be on the same page so it works for you and I can help execute your plan!

All this being said, my goal is simple: to help you make the right decision for your family. Whether it’s advice with updates and upgrades or helping you sell your current home and move on to the next phase of your life… or simply help you find a home that meets your current needs (with COVID, we’ve all learned a lot about what’s important in our home).

How to sell your home for top dollarI invite you to grab a copy of my book… I’ll drop a free copy in the mail if you just reply to this email with your mailing address. If you prefer, you can pick it up on Amazon as well!

In it, I take you through what it takes to get your home sold for the most amount of money. I’ve flipped homes personally for nearly 20 years and I’ve been in hot seller’s market, major buyer’s markets and weathered the crash of 2008/2009 at ground zero (South Florida). Oh… and my husband and I built a 7-figure digital marketing platform, and my passion is really in marketing!

December 2020 Austin Real Estate Market Update

You can also download the current Travis County Market Update with the stats from December 2020. It gives you a quick peek into the change year over year from December 2019 to December 2020.
I post this report monthly on my Facebook page and would be happy to drop a copy in the mail for you as well!

Let’s chat and get a plan together!


P.S. And be sure to follow me on fb icon.png Facebook and instagram icon.png Instagram so I can share market information, renovation and design tips, information about things to do in the Austin area.

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