Our market in 2021 has been defined by low supply and high demand.
What’s the latest news from our real estate market as we near the end of January?
I was out looking at some houses in Round Rock recently, and I noticed that there’s not a lot on the market. Inventory has been limited, and the situation is crazy. This means most of the listings out there are fetching multiple offers. Some properties are overpriced and some need too much work for most buyers to take on, but in general, if a house is in decent condition and at a decent price point, it’s getting multiple offers.
"If you’re serious about buying in this market, come to play."
In other words, there’s a lot of demand for the available supply. I had one client make an offer on a house in Cedar Park not too long ago, and there were 77(!) other offers for it. I had another investor client make an offer on a $275,000 home in Round Rock that needed some serious renovations, and the agent for that seller told me they accepted a cash offer that was $60,000 over asking price. Six months ago, I sold a similar home located in the same neighborhood for $275,000, and that home was both larger and turnkey.
What do you do if you’re a buyer? It’s tough to get a good home, but not impossible. If you’re serious about buying in this market, come to play. Be prepared and listen to your Realtor so you have everything you need to put your best foot forward. There are many strategies that highly experienced Realtors such as myself can implement for you to ensure you have a good chance at getting the home you want.
If you’re interested in buying a home and would like to talk more or have any questions at all about our market, don’t hesitate to reach out to me. I’d love to speak with you.