Think your rent staying the same is a win? It might be time to look at how buying can be an even bigger victory. With the latest data from the MLS, let's break down the market trends and what they mean for potential homebuyers.
Market Snapshot: March 2025
Median Home Price: $395,000 (-0.3% YoY)
Average Price per Sq. Ft.: $256 (-6.3% YoY)
Total Sales: 695 (-7.1% YoY)
Market Volume: $329M (-4.2% YoY)
Days on Market: 51 (up 2 days from last year)
Prices Are Stabilizing– The median home price has seen only a 0.3% decrease compared to last year. This suggests the market is adjusting rather than experiencing steep declines or increases.
More Negotiation Power– Homes are selling at an average of 2.49% below asking price, meaning buyers have room to negotiate compared to previous years when bidding wars were common.
Affordability is Improving– With the average price per square foot dropping 6.3%, buyers are getting more value for their money compared to a year ago.
Inventory is Growing– The number of active listings remains strong, with 3,009 homes available. More inventory means less competition and more choices for buyers.
Interest Rates Still Matter– While home prices may be more favorable, securing a good mortgage rate is key. If you're renting, compare your monthly rent with potential mortgage payments and see if homeownership is within reach.
Long-Term Renters: If you've been renting for years, now might be a great time to transition into homeownership.
Buyers Seeking Stability: With home prices stabilizing, purchasing now could offer long-term value and equity growth.
Negotiation-Savvy Buyers: If you're willing to negotiate and shop around, the current market gives you an advantage to secure a better deal.
If you're considering homeownership, now is the time to evaluate your options. Let’s chat about your budget, financing options, and how we can find the perfect home for you.
Reply to this email or schedule a consultation today!
Holley Homes Realty
Brandon Holley | Your Trusted Austin Real Estate Advisor
512.487.9242
brandon@holleyhomesrealty.com
holleyhomesrealty.com
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