South Austin Real Estate Splits in Two: Circle C Has 4.3 Months of Supply While 78704 Has 8
eTravel Wire/10363694

AUSTIN, Texas - eTravelWire -- South Austin real estate is moving at two very different speeds, according to a new pull of Unlock MLS data by Austin REALTOR® Sarah Maddali. Sarah Maddali, team leader of Serendipity Realty Group at Compass, found that in the 30 days ending Oct. 27, Circle C had about 4.3 months of supply and a median of 12.5 days on market, while South Central Austin's 78704 ZIP code had 8 months of supply and more listings expire or get withdrawn (48) than sell (39).

Broader South Austin sits in between. Based on Unlock MLS data pulled by Serendipity Realty Group, South Austin had 658 active listings, 129 under contract or pending and 96 closed sales in the period, with a median close price of $415,000 and 6.9 months of supply. Homes closed at an average of 92.5% of their original list price. Timing made the biggest difference: the 14 South Austin homes that sold in their first week closed at 98.4% of original list price, while the 18 that sat 120 days or longer closed at 83.2%, a gap of roughly $63,000 at the median.

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Circle C's 10 closings, a small sample, had a median close price of $886,750 and averaged 97.0% of original list price. In 78704, 39 homes closed at a median of $824,451 and 94.1% of original list price, with a median of 24.5 days on market, but nearly as many listings came off the market unsold.

"South Austin buyers keep asking me if it's a buyer's market, and the answer depends on the neighborhood," said Maddali. "In Circle C, well-priced homes are still going fast and close to asking, so you show up with a clean, strong offer. In 78704 and a lot of South Austin, the homes that have been sitting are where the negotiating room is, and that's where I'd look hardest. Ask for repairs or help with closing costs, because the seller has already had months to think about it."

What South Austin buyers and sellers can do this month:

• Buyers: sort your search by days on market. South Austin homes listed 120 days or longer closed at 83.2% of original list price in the last 30 days.
• Sellers: price for your first week. South Austin homes that sold in week one closed at 98.4% of original list price.
• Get fully pre-approved, then watch Freddie Mac's weekly average every Thursday and the Fed's Dec. 9 decision without building your whole plan around one headline.

Sarah's free Austin home buyer and relocation guides are at https://sarahmaddali.com/links/.