Agent Pricing Expectations
This winter has been unprecedented in its amount of buyer demand in the Austin real estate market. While we generally see a seasonal market slowdown in the winter months, that did not happen in 2020 & 2021. Anecdotally, we’ve seen properties collect 90+ offers, which is something we have never seen in the past.
This past week, we sent a market survey to the 4000 highest producing REALTORs in Austin. We asked them what they expect when they see homes listed in different price points. We’ve included the results here.
When a home is listed <$300k, 66.8% of agents expected 10 or more competing offers and 55.9% expected the home to sell for 10% or more above the list price (with 14.1% expecting 20% or greater.)
When a home is listed in the $300k to $500k price range, 66.4% of agents expected 5+ competing offers and 37.5% of agents expected the home to sell for 10-20% above list.
When a home is listed in the $500k to $1M price range, 32.4% of agents expected 5-10 competing offers and 41.8% expected the home to sell 5-10% above list.
When a home is listed in the $1M to $1.5M price range, 60.5% of agents expected 1-5 competing offers and 48.8% of agents expected the property to sell 0-5% above list.
When a home is listed in the $1.5M+ price range 54.7% of agents expected 1-5 competing offers & 50% of agents expected the home to sell 0-5% above list.