Whenever a client asks me how the market is doing or where it’s headed, I usually have one answer for them: it depends on where you look.
Today I’d like to answer a question that I get frequently from many of our clients: where is the market going?
My answer to this question is usually, “It depends on where you look.” We’ve put together some specific market stats that help us align where different price points of certain areas of town are either appreciating or depreciating; however, it’s important to realize that every area is appreciating or depreciating at a different rate.
No matter what neighborhood you live in, whether you have a waterfront property or a condo or any other kind of property, the market can vary drastically from area to area. For this reason, it’s important to be educated on the microeconomic concepts that we’re discussing.
When somebody asks us where the market is going, we can usually give them a general answer, but after that, we have to get very specific with the types of properties and locations that we’re talking about.
If you’re curious about what’s going on in your particular neighborhood or you have any questions about buying or selling real estate in the Austin area, give us a call or send us an email. We’d be happy to point you in the right direction!