28/10/2022
Sept 2022 update on the Williamson County real estate market.
It is still a sellers market, and buyers have a more flexibility than a year ago.
I read an article that predicted a "crash" in the Austin market. This is harsh language and I'm just not seeing it.
In the electronics manufacturing space, my team was often notified of a "crash" in some piece of test equipment. 9 times out of 10, the equipment had failed, but it had not "crashed". In electronic equipment language, a "crash" is defined as "operating system data have become CORRUPTED, or hardware has failed in a NON-RECOVERABLE fashion." This is by far more harsh than typical equipment failure.
We humans seem to have a tendency to predict "gloom and doom" where it may not exist.
Although the median home sold price in Williamson Counry has dropped 10% to $455,000 from it's high of $510,000 in April-May 2022, home prices are still up significantly. In fact, the median sold price was $318,000 in Sept-20, so $455,000 is still an increase of over 40% for those 2 years!
The Austin area market is incredibly resilient.
Homes are still selling. People are still buying. Yes, the rate of sale has slowed.
Sellers who let the market data (and a great agent) guide them in pricing their home will do just fine.
