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Mueller Austin – Seller’s Market or Just Low Resale Inventory?

Twicein the last two days I’ve had requests from Realtors with clients wanting to buy or rent homes at Mueller, and I have six clients who are looking to move to the neighborhood as soon as a resale home becomes available. Is this the sign of a seller’s market?

Looking at supply and demand, there aren’t actually that many resale homes to purchase in Mueller right now. (There are two resale homes both under 2000sqft at the time of writing) Part of that is the youth of the neighborhood (people in Texas tend to move every five years and Mueller is just over three years old and still growing) and part of that is seasonal – highest inventory levels are in Spring and Summer (a large portion of the homes on the market in the summer are the ones that didn’t sell in Spring). So supply is low.

Demand is steady. Of my local buyers in 2010 most are actually from Austin – either first time buyers or moving from other neighborhoods. I had a few out of town relocations and even one client moving from one house to another within the neighborhood. People want to live here, and they move Corporate relocation is often seasonal – based around the school year – though sometimes one family member relocates and forms a beach head while the rest of the family stay behind to close out school.

I took a quick chart of Austin home supply 2007-2010 from the Austin MLS via Clarus Market Metrics. I searched only for homes between $250k and $750k in the city of Austin – the same price point as the bulk of homes here. It shows the seasonal nature of homes sales, and also the diminishing number of homes for sale through the years, with a fairly constant demand.

What does this mean if you’re looking to sell a home in Mueller? Let me know if you’re even thinking of selling and I can get you in touch with the current list of buyers and help you figure out pricing. There’s a current shortage of homes over 2000sqft under $500k.

What does it mean if you’re looking to buy at Mueller? There are a few pocket listings – homes which are not yet on the MLS that are coming up for sale soon. There are also new homes that aren’t in the MLS. Let me know if you want to know more about those. Also, sign up for notifications when new homes hit the market by saving a home search (click on “Email me when new listings match this search”)

Garreth Wilcock is a Realtor specializing in selling homes in his own neighborhood. 512 215 4785

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