Houses Selling Fast! First Week on the Market!
Kamis, 22 Desember 2011
2011 market update,
Austin,
Days on Market,
DOM,
First week sales,
Houses are Selling Fast,
Let's Talk,
Real Estate
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Have you ever been to the animal park at feeding time and watched as the animal trainers throw a large hunk of meat to the tiger? The tiger pounces on the food and devours it! There is no question about it--it is his. Now put two or three hungry tigers in together at the end of the day and add fresh meat to the picture and you have a full on competition. Well, you guessed it, that is happening in Austin Real Estate. No kidding. We are seeing this again right now. Here is how it impacts you.
When you are reading Austin Real Estate Updates and you see the stat for Days on Market (DOM), this is usually either an average or a median number for all properties, but median numbers don't tell the whole story. This does not mean that most houses sit on the market for 60-70 days. Median numbers are only a mid point of the stats--what about the houses that look great and are priced right on day one? How fast are they selling? Glad you asked!
In Austin right now, here are the numbers*:
- Starting with 1,953 homes that currently under contract to close
- From these homes:
- 37 went under contract in less than 24 hours on the market!
- 99 went under contract during the FIRST 3 DAYS!
- 221 went under contract during the FIRST week!
- 397 went under contract during the first TWO weeks
- 513 during the first three weeks
- 648 during the first month
So, when you see a house online, even a house that has been on the market for a week or two, that house may already be in contract negotiations--often as early as the first few days or hours on the market! Don't wait or hesitate--if it looks good to you, it will probably look good to other buyers as well.
If you see a house that strikes your interest, give me a call. Let's Talk. (More importantly, let's go see it! Fast).
*Numbers in Austin Real Estate change daily. The numbers were real at the time of the writing, but these numbers for pending contracts change daily as contract close and new contracts are written.
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