The City of Lakeway TX is holding its own in the current market. The below sales chart are the SOLDs from just the first two months of the third quarter.
As you can see, Lakeway TX has home prices that fit almost everyone's budget, from the low $200's well past the $600's... there are million dollar properties in Lakeway TX, but none that have sold this quarter yet... Look at that blue line... YIKES! Some are well above the chart, which is not good!
Here's another view of Days on Market (DOM) broken down to the properties that have sold.
Now, look at the chart of the DOM for the properties currently on the market still.
Many people, upon first glance of the first sales chart would think properties are selling slow and give the regular "National" mumble jumble about a slow market. The DOM chart for the Solds shows you that almost half of the properties that sold, did so in under 30 days. Not too shabby! Those sellers priced and presented very well!
Then, when you look at the DOM chart for the actives, relook at the color chart to see what each one means as the colors are different. The dark blue now represents all the properties on the market over 120+ days! Ouch!!
With so many sellers on the market such a long time, I often get buyers thinking they can come in and "low ball" because the sellers must be desperate. Look at this sales ratio chart.
Are the sellers accepting low ball offers? It sure doesn't look like it to me... The properties that have been on the market the longest are actually getting the highest ratio. As I've said before, does that make the most sense? A home owner spends on average approximately $3500 a month on mortgage, taxes, insurance, and maintenance only to wait an extra 6 months to get that extra $20k out of a buyer. Who wins? He spent $21k to get $20k.
Come on, Sellers, do the math!
If you're a seller in the Lakeway TX area, please contact me TODAY so I can help you run the realistic numbers and get your heads out of the clouds. I don't list houses, I sell them. Others might tell you a nice story to get their sign in your yard, but are they delivering?
**Are You Packed Yet?**
Austin TX Real Estate and the surrounding areas of Lakeway, Bee Cave, West Lake Hills, Cedar Park, Round Rock, Spicewood, Circle-C, Steiner Ranch, and everywhere in between... Hill Country Austin TX Real Estate and beyond. Whether you're buying or selling an Austin home, I'll be with you every step of the way.
** #1 Agent in my Office for all of 2008 **
Copyright© 2010 By Donna Harris, All Rights Reserved. You may re-blog with links back to this post.
* City of Lakeway TX - Market Report * was first published on donnahomesblog.com