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Should I Sell My Austin Home?

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Should I Sell My Austin Home?

Are you struggling to decide if you should take advantage of this current real estate market but you’re not sure if it’s the right time to cash out and sell your home?

This article will give you real data on just how much Austin area homes have appreciated, what neighborhoods and areas have the highest appreciation and what factors will contribute to whether that will continue – so that you can have the confidence to make an informed decision on whether you should sell or stay put.  

If we haven’t met before my name is Laurie Engle and I’m a top-producing realtor that specializes in helping HomeSellers in the Austin area. 

Lets start with the basics, there’s a lot of info out there about how Sellers are making a ton of money right now on the sale of their homes.   You’ve probably heard the old adage that real estate is all about location, location, location.   Its absolutely true, depending on the location of your home- you could be sitting on a gold mine, or you may have seen modest appreciation.   In the past 12 months Austin area home sale prices have increased from a meager 8.6% to a whopping 102.6% from the previous year.  Thats a huge range so  I’m going to let you know where YOUR neighborhood comes in at so you have confidence to know whether or not to cash out. 

But first, I get asked all the time, how long will market last? After 20 years of selling homes, here’s what I see are the major factors driving this market.

  1. Low interest rates.With rates at record lows people are able to spend more money on a home because their payment is less.    
  2. High home buying demand from remote workers.The pandemic changed the way Americans used their homes.  We figured out pretty quickly that our needs in a home were vastly different than what they used to be.  Couple that with the fact that many people no longer had to commute and so the location you could now live in was wide open.   So the great migration began and everyone decided it was time to move-at the same time.   
  3. Perception.Remember the empty shelves during 2020 where toilet paper used to be?   Just the thought of a diminished supply caused widespread buying.   It happens with many things and the housing market is not immune to this.  

But what you really want to know is should YOU cash out and sell?   Is your home in the warm spot or in the Sizzling spot?  Here’s the inside scoop on percentage increase in sales prices in many popular Austin areas.  If you don’t see yours just send me a message and I’ll email you a report on your specific neighborhood.

  • Travis Heights/Soco/Bouldin 8.6%
  • Hyde Park 10.2%
  • Mueller 13.2% 
  • Downtown Austin 14.7%
  • North Central Austin 27.8%
  • Barton Creek -28%
  • Northwest Hills 29%
  • East 34.6%
  • Lake Travis 35.4%
  • Tarrytown 39.1%
  • Georgetown 40.6%
  • Pflugerville 43.6%
  • Leander/Cedar Park 46.7%
  • Round Rock 47.4%
  • Dripping Springs 58.8%
  • Great Hills 64.5%
  • Barton Hills 77%
  • West Lake Hills 102.6%

Pretty incredible numbers right?  Lets say you’ve decided you are going to take advantage of this market and sell your home, my next Blog post will help you to find out the absolute best time of year to sell so you can completely maximize your profit potential.    And let me know in the comments what your biggest fear is about selling your home right now.  

Also, If you want more details about what your specific homes market value is, find the “Whats My Home Worth” link under the Sellers tab and I’ll prepare a home evaluation report for you.   My report is NOT an algorithm based on inaccurate online data-the internet is full of that, this is the real deal and specific to your home and your neighborhood.   I’m happy to provide that for you.