Austin Luxury Home Sellers -- What you should know

The Luxury Market in Austin is ever evolving and changing. It is a living, breathing, changing entity. This applies to any Austin area luxury home community--Westlake, Rob Roy, Barton's Creek, Seven Oaks, Westminster Glen, River Place, Steiner Ranch, and the list goes on and on. Of course, when I speak of "the market", I am speaking in terms of generalities. And generalities are like the weather report. You know what the weather-person thinks is going to happen, but you may or may not be in the right place at the right time to see the weather that was predicted. It just depends. 

Here is what I am seeing happening right now in the Austin area Luxury Market among sellers. There seems to be 2 types of sellers right now. The first Seller is staging and preparing the house to sell and pricing this house very well to the competitive market. The house and lot look great and show extremely well. These homes are getting a lot of buyer attention and are not only selling quickly, but they are often selling with multiple offers and at full listing price (sometime above listing price). 


The second Seller that I am seeing right now is the seller that has prepared their listing well, staged and taken great photos (i.e., the seller did all the right things to get the property ready to sell), but has priced the house well above the homes that have sold in the community during the past 6 months. These listings are getting buyer's attention, but when the house is listed too high above market value, it does not tend to produce offers, or the offers fall on deaf (seller) ears. 

This kind of market dynamic is hard on buyers. Call it a bumpy market. Well priced houses are selling faster than some buyers can make up their mind, and the ones that are not priced well to market are languishing in the wind. This makes is hard. Buyers have to be ready to contract, just like sellers have to do their job in getting the house ready to sell. 



If you need a Realtor ®, I would be honored to assist you in your luxury home purchase, search or selling your Austin area home.

tT

Tim Thornton, Realtor ®
Top Producer 2010, 2009, 2008
Century Club member
Zip Realty, Inc.
Austin, Texas
(512) 914.4665  mobile