Real Estate Agent Market Pricing Expectations
Jan 08, 2021
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 real estate properties collect 90+ offers, which is something we have never seen in the past.
This past week, we sent a real estate 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.
Homes Listed in the Real Estate Market <$300k
When a home is listed <$300k, 66.8% of real estate 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.)
Homes Listed in the Real Estate Market in the $300k-$500k Price Range
When a home is listed in the $300k to $500k price range, 66.4% of real estate agents expected 5+ competing offers and 37.5% of agents expected the home to sell for 10-20% above list.
Housing Properties Listed in the $500k-$1M Price Range
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.
Real Estate Housing Properties Listed in the $1M-$1.5M Price Range
When a home is listed in the $1M to $1.5M price range, 60.5% of real estate agents expected 1-5 competing offers and 48.8% of agents expected the property to sell 0-5% above list.
Real Estate Properties listed at $1.5M+
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.
Additional Readings:
2020 Texas Real Estate Market Year in Review: What Happened Out There?- Categories
- Post COVID Boom