Volume No. 24
Residential Properties in Austin $1 Million and above
Number of Luxury homes closed January 10th to January 16th
There were 22 homes that closed at $1 million and above last week. Of that total 20 were single family homes not located on lakefront property, 2 were condos, and for the first time in six months 0 were located on lakefront property.
While this weeks total was still on the lower end of where we have seen the market it is still very healthy. Also, just coming out of the holiday season it's not very surprising to see the total number of closings on the "lower side", even though lower is very relative.
The median days on market for all homes was 15 days! This is incredible to say the least. One impact I see having on total days on market, price increases we've never seen before, and overall madness is that there are so few homes on the market. In a 'normal' market we might see anywhere between 6,000 to 8,000 homes on the MLS at any given time, and as I write this there are only 2300.
Dillon will guide you through the process of purchasing a home, perhaps the largest acquisition of your lifetime, or selling a home, a sometimes formidable task, as your Real Estate Agent Specialist to accomplish a swift and successful transaction.
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