Aug. 30, 2024
Most of Central Texas is currently experiencing a BUYERS MARKET in residential real estate! Good news for BUYERS!
This is determined by the absorption rate, or you may have heard it called "months of supply". We currently have more inventory than we have demand, and it's a great time to purchase property. Buyers have more room to negotiate prices, seller concessions, and terms of purchase contracts.
The absorption rate is a snapshot of market conditions, and it can vary significantly based on location, property type, condition, and other factors. If you're curious what the absorption rate is in your neighborhood, send me a quick message and I'll be happy to run the numbers for you.
In several of the popular neighborhoods in my area (Liberty Hill, TX) the months of supply is 7, meaning it will take 7 months to sell everything on the market, assuming no new listings were added, and the homes are priced COMPETITIVELY.
It is a BUYERS market.