The Morshed Group Q3 2022 Market Report Watch our much anticipated Q3 2022 Market Update. We cut through all the noise you're hearing to nail what actually happened, and where the market is really going in 2023, with powerful data and keynote trends. Q3 2022 ended with Austin giving back most of its price
Q2 2022 ended with Austin being a top 5 market nationwide in terms of strength and low inventory but definitely seeing tempering due to equities markets pulling back, interest rates rising from 3.5% to 5.5% and inflation. At The Morshed Group, starting in Q4 of last year, we were letting clients know 2022 would be the year things finally cooled.
In the technology industry, talks of emerging “new Silicon Valley” are hot, and Austin is a contender to become the newest tech hub. The current hub in California is seeing a decline in popularity among both residents, future residents, and companies. This trend in migration of tech companies out of California and to new
Q3 2021 ended with the market finally experiencing price stabilization while values still moved up 3-4% and supply ended at 1.11 months. 20% over list to win a home in multiple offers finally subsided, the number of multiple offers banded down and terms loosened a touch for Buyers. Buyers also saw a little more inventory across the market.
Q2 2021 ended with continued historical lows in inventory for Austin with prices jumping another 6% and ONLY about 2000 homes on the market for sale! We continued to be in uncharted territory regarding negotiations and competition as a result. Buyers had to waive most contingencies to be competitive. Cash, appraisal waivers, massive down payments if financing, and so on won the day.
Q1 2021 ended with historical lows in inventory for Austin with prices spiking 11% and ONLY about 1800 homes on the market for sale! We are in uncharted territory regarding negotiations and competition as a result. Buyers are waiving every Buyer right to be competitive. Cash, appraisal waivers, massive down payments if financing, and so on.
Hello everybody, Q3 market update here including a condensed video format version! Let's jump right in! Q3 ended with a slight dip in intensity compared to Q2 but put up incredibly strong numbers. Prices spiked up 4% in Q3. Inventory averaged across all price bands/areas is at an incredibly low 1.5 months -
Q2 2020 market update here including a condensed video format version! This one has taken MUCH longer than normal - I've personally had a very challenging 2nd quarter with the losses of my closest friend unexpectedly as well as my father, who had been declining for a long time. Thanks for your grace and understanding. Lets dive in!
Q1 2020 ended with very strong performance yet marred in uncertainty with covid and shelter-in-place orders. Prices moved up a robust 3-4% and supply ended at a scant 2 months. Tier-1 homes (priced right, no major flaws and wow factor) sold within days with multiple offers and average of 3-5% over list price. In some cases higher.
Q4 2019 ended even stronger than expected. Normally Q4 is a slower part of the year and it certainly was not the case this year. Prices moved up a strong 7%+ cumulatively for the year (I had predicted 5-7%) and inventory ended at a scant 2 months. Tier-1 homes (priced right, no major flaws and wow factor) sold within days with multiple offers and average of 3-5% over list price.