As we celebrate closing out 2017, I've spent some time reflecting on the past 12 months and predicting where we may go next year.
2017 Real Estate Highlights:
- Strong sellers market. Tight inventory.
- Low interest rates.
- Grey paint sold more Austin homes than any other color.
- Buyers market: sellers must be willing to negotiate with buyers.
- Sellers: you will get one chance to price your home. Starting off too high will only increase days on market and chase price drops.
- From stage to sold. Sellers: you must stand out. There will be competition than 2017. Buyers need to see fresh paint, floors and modern furniture.
- Interest rates will rise.
- Prices will hold steady. No more huge leaps in appreciation.
- The downtown Austin condo market will become saturated.