I'm not sure where August went! I apologize for not keeping up with posting the market stats here. This has been a weird summer market in the Austin area for sure. But I'm back to posting the stats!
In both the city of Austin and the 78645 zip code (the Northshore of Lake Austin) inventory dropped last week. Fewer new listings, more contracts, more closings and more listings expired. For sellers that means less competition. For buyers that means less to choose from!
As interest rates drop, buyers will find they have more competition on houses they like, and sellers will be able to ask higher prices again. Keep that in mind if you are a buyer who has been waiting for the rates to drop before making a move!
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