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.
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.
We’re innovative and strategic real estate agents and advisors with an entrepreneurial spirit, who are well-versed in the Austin realty scene and residential real estate. We understand that the life of an entrepreneur can be very busy, and when it’s time to buy a house or purchase an investment property, you don’t have the time oversee every step of the process. We’ve built a formula for simplifying real estate and investing by utilizing our in-depth and up-to-date knowledge of the Austin real estate market, our skills as real estate investors and advisors and our local connections. We have a growing portfolio of homes for sale to help match you with the perfect property.