Is There a Best Time to Buy (or Sell) a Home in Austin?

I’ve been selling luxury real estate for a long time in Austin and one of the most popular questions homeowners and sellers ask me is, “When’s the best time to buy a home?”

What’s funny is living in Austin, I feel like that’s a trick question! Especially out here in the booming suburbs of Lakeway and Bee Cave and exclusive neighborhoods like Spanish Oaks, Flintrock, Rouch Hollow and Serene Hills. Regardless of what nationwide statistics say, this slice of the Texas Hill Country is a hot market all year long. It really just depends on your specific situation.

Of course, Austin is always a hot when it comes to real estate, but there are optimal times or seasons for homebuyers, just like there are optimal times for sellers.

If you’ve ever bought a home before and you had to endure bidding wars, you know it can make the buying experience stressful, especially if you went into numerous bidding wars and didn’t win them. First of all, that’s why you need to work with a Realtor like me – one of the things I know how to do is negotiate! Plus, I’m trained in negotiations for luxury homes and properties.

It’s hot and cold

  • Some people say the weather matters. Sure, if you’re buying in Austin, Texas, that can be a factor. The hottest spring and summer months tend to be harder for buyers and more optimal for sellers.
  • If you shop homes in March, April and May, you’ll be shopping in peak season. Buyers are hustling to beat the Texas heat and get settled before school starts.
  • Since springtime in Texas is the most popular time of year for selling a home, as a buyer you’ll face lots of competition from other buyers—homes sell faster and at a higher premium.
  • A great month to shop and buy in Texas is October. If you shop for a new home in October, you should be closed by Thanksgiving.

Fall is hotter than you think

  • Home buying in winter months means temperatures tend to be cooler and if you close in November or early December, you’ll be in your new home in time for the holiday season and the New Year.
  • If you don’t want to sacrifice your holiday season to shop for homes, that’s okay too. In Lake Travis, home buyers like to shop in January, after the holidays, and close in February.
  • Statistics show that you can get a better deal buying in the winter months. In Texas, home prices in January and February are 8.45 percent less than they are during peak season months like June, July and August.
  • Historically in Austin and the surrounding areas like Lake Travis, homes purchased in December sold for less than similar homes purchased in other months.

Always exceptions to the rule

There are variables that can change the ebb and flow of buying or selling a home in Austin. For example, for the past few weeks, inventory has been low in the Lake Travis area. I’ve had clients who really want to buy a home in The Hills of Lakeway. So we’ve been asking around to see if anyone who has thought about selling would be willing to let us tour their home.

This is how real estate works! You’ve gotta be able to “work it” to find a solution for your clients all year long! 🙂

 

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