July is Time for Yards, Watering, and HEAT Management [[+]] Austin Area Real Estate Market Begins Return to Pre-Pandemic Activity: Chuck Farr’s July 2022 “Talking Real Estate” ENewsletter

Posted by Chuck Farr on Wednesday, July 20th, 2022 at 11:40am.

July is Time for Yards, Watering, and HEAT Management [[+]] Austin Area Real Estate Market Begins Return to Pre-Pandemic Activity: Chuck Farr’s July 2022 “Talking Real Estate” ENewsletter

 

Hello again, homeowners, tenants, prospective buyers, and real-estate investors! In the news,the Austin Board of Realtors says that in June, “residential home sales declined 20.3% year over year to 3,441 closed sales as the median price rose 13%, setting a record of $537,475 for the month of June. Sales dollar volume dropped 9.9% to $2,301,865,479 while new listings jumped 19.6% to 6,160 listings. The number of homes on the market skyrocketed 217.8% to 7,090 active listings, causing housing inventory to jump to 2.1 months of inventory, up 1.5 months from last June.” Remember that historical guidelines tell us that 6 months of inventory indicate a “balanced” market—so we are still in a strong sellers’s market. (Check the [[“Talking Real Estate” Monthly Enewsletter]] for all the market details; it may take a few seconds to load.)

Summer Home Maintenance Tips: Summertime has its own home maintenance checklist in Central Texas, especially for existing property owners. Here are a few items to consider during July:

  •       Set your mower on the highest setting so you do not cut the grass too short and expose it to drought and weeds.
  •       When watering restrictions allow, make sure your foliage gets plenty of water during hot summer days. Water early in the day, but not necessarily every day. Plants prefer a good soaking a few times a week rather than a light, daily drizzle.
  •       Reverse the setting on your ceiling fans to counterclockwise during hot months. This pushes the air down, creating a nice breeze. Shut off fans when you leave the house to save electricity. [[Watch this video for details on how to reverse your ceiling fan.]]
  •       Whether you have central air-conditioning or window units, you should clean or replace your filters at least once every other month (or more often if they are visibly dirty).

Here is the [[Talking Real Estate Enewsletter]] with always-on links to trends in national, regional, and Austin area real-estate market news. You will also see some handy articles about home buying & selling, home maintenance, taxes, and other topics.

In this issue:

  •       Austin Area Market Begins Return to Pre-Pandemic Activity: Long-awaited gains in housing inventory contribute to slower price growth, market stabilization in first half of 2022 (latest ABOR report)
  •       Success Strategies for 2022 Homebuyers
  •       Retro: Not Just Mid-century Anymore
  •       Home Inspections for Co-ops or Condos
  •       Which Remodeling Projects Bring the Most Joy?

I often get asked about current market conditions, whether now is a good time to buy or sell, or “what are home prices like in my area?” These questions are best answered with statistics because the real estate market is constantly in a state of flux. If you need more detailed information about the market in your own neighborhood or home, just let me know. I'm just a call, text, direct message, or email away and happy to give you a free comparative market analysis of your home and neighborhood.

View your current [[Talking Real Estate Enewsletter]] to see what's happening in your local market now.

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