(wow) Words Of Wonders Level 1368 Answers – AVERY RANCH REAL ESTATE MARKET REPORT I 78717 Happy Holidays! Let's take a look at the market! 78717 and December 2022 Avery Ranch Real Estate Update
As of December 1st, there were 85 homes under contract and 19 active homes for sale in November 2022. 48 homes were sold, down 72.5% from last year. The average dollar per square meter fell by 11.8%.
(wow) Words Of Wonders Level 1368 Answers
The median sales price was down 11.2%, and the median sales price for 78717 and Avery Ranch properties was down 11.9%. Now, if you're like me and want to see the glass as half full, according to the Texas Real Estate Center, in the Austin real estate market, median sales prices are up 63% over the past five years and the median sales price. A 61% increase over the last five years.
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I always feel compelled to tell people this: My biggest regret in life is that I didn't move to the Austin area until my dad had a stroke and it was too late. And so, yes, this is my favorite photo of all time that came out today. One thing people always tell me is that time flies and the first four years are the most important.
But I didn't know what that meant until I experienced it myself. Then there is the time of year right after Thanksgiving and Christmas. I get a lot of calls, mostly from seniors who want to be closer to their children. They meet the family and grandma says she wants to be a Facetime grandma now.
You know, the general market. Often, Grandpa will say, “Well, we can just sell the house and make $235,000, or we can't move until we make $250,000.” So grandmothers lose more than $15,000 for being grandmothers in their third and fourth years individually. And I can already say that this season will be bad in the real estate sector. We've spent two years in fantasyland and now we're back in reality.
About half the people who call me can't accept that we're not in fantasyland and that their lives are as good as they could be. They have anchored a real estate market the likes of which we will never see again. And no matter what you do to give them the best information available so they can make better decisions, they're stuck.
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And finally, I suspect that those people who can't go to fantasyland will end up doing the same things they do today, except a few years from now. And they missed all the important milestones and probably didn't make enough money to turn their fortunes around. And knowing what I've learned in a year and a half, that's a big mistake.
So we'll be back in two weeks with real estate predictions for 2023. There's a lot of misinformation out there about what's going on, and I'd hate for you to make life plans based on that bad information. If you're planning a move, let's talk. Schedule an appointment at KopaConsultation.com or text me at 512-791-7473.
If you're planning to sell in 2022, now is the perfect time to attend our free home selling workshops. If you would like to attend a workshop, please contact us and we will let you know when they are scheduled. As always, you can check KopaWorkshop.com for the dates and times of our free in-person and online home selling workshops. Over the years, home sellers have told me that they have benefited from participating in our programs. Register at KopaSeminar.com.
The information on this page may have changed since we first published it. We offer excellent real estate advice, but this page (and the rest of our site) is for informational purposes only and is not a substitute for actual real estate, legal and financial advice. If you would like to establish a broker-client relationship, please contact us and we will explain how we can make it official. Sending an email or just reading this page does not mean that we represent you. Do you have any questions? Contact us now!
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We review the latest real estate statistics for 78717 and the Avery Ranch real estate market, talk about what happened to mortgage rates last week, who is moving into the 78717 area and be careful who you listen to, because the market is very negative in my opinion.
As of November 1, 78717 and Avery Ranch had 12 homes under contract and 58 active homes for sale. This is great news for shoppers who have more options than last year.
In October, 22 houses were sold compared to 55 last year. The average sales price is up 6.7%, the median sales price is up 18.9%, and the median sales price is up 17% from October 2022. We should expect this year, as buyers own about 5 homes to choose from for each home under contract. -Annual growth is decreasing or may soon become negative.
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Last week we saw mortgage rates drop by almost half a percentage point. Data showing a slight decline in the consumer price index have come out. Hope means that inflation is beginning to decline and that the Federal Reserve will not have to raise rates as high as expected and will not have to keep them as long as expected. Interest rates rise when inflation is high. The financial markets reacted to this report as good news and thus the rates fell. This is just a report, so it's too early to celebrate, but it's a good sign.
Something to keep in mind is the possibility that mortgage rates will eventually come down, but don't expect to see a 3% mortgage rate again. Historically, this has been an anomaly and if you wait to buy or sell and move on with your life, you will be waiting a long time, perhaps forever, for rates to return to 3%.
I also want to talk about the income and affordability of the people who live here. I've seen many people show that the median household income in Austin is $75,752 from the US Census Bureau's 2020 study. People moving to this area have high incomes and high housing budgets. We have rented 4 houses to people who have recently moved to the area. Each household has an income between $180,000 and $350,000. Each household's income is higher than previous renters and each family can easily afford a rental home.
There is a lot of negativity in the real estate market. Maybe the whole economy. Be aware of what is happening that you are an expert in and do what you want to do every day. Right now there are a lot of people, some of them real estate agents, trying to make a name for themselves by telling everyone that the sky is falling. I'm not saying you should ignore what's going on in the economy, but I suggest you seek advice from someone who can give you accurate information.
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Whether it's real estate or something else, if someone is giving you advice, it's a good idea to ask yourself, “How would they know?” In terms of my business, I see that there are a lot of real estate agents who give advice, but they don't really sell high-end real estate. Since I am the agent for our company, I can pull data from the Austin real estate board and see how many homes the agent is selling.
As a consumer, you don't have the ability to do that, although you can always call me and I'll tell you, so here's the best thing you can do before asking another agent for advice. go on
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