Eleven Oaks Realty is proud to present their March 2015 Leander Real Estate Price Report measuring activity in the Leander single family home market.
Time to Sell Home in Leander Up 61%
The biggest story in this month’s Leander Real Estate Price Report comes by way of time to sell. In March 2015, it took 58 days to sell a home in Leander, on average, compared to 36 days in March 2014, marking a 61% (22 day) increase in year over year numbers. Given the time of year, we would expect time to sell to go down. We saw the opposite in Leander this month, when comparing last year’s figures as last month’s figures.
What does this mean to buyers? Again this month, buyers looking to buy a home in Leander have more time to make a decision than this time last year. But, if you’re looking to be a home owner in Leander in 2015, I wouldn’t suggest putting your home search on the back burner. Instead, beat other buyers to the best homes and increase your chances of getting the home you want.
What does this mean to sellers? If you’re thinking about selling, be prepared for it to take some time. Buyers are willing to pay more than they were last year, which might make it worth the wait. Do what you can to position your home as the best value in the market and work with a professional Realtor who knows how to generate interest.
Leander Housing Inventory Increased 9%
In March 2015, we saw 2.1 months of inventory on the market, compared to 1.9 months of inventory in March 2014, showing a 9% increase in year over year numbers. With just over 2 months of inventory, Leander is in a seller’s market, but also has some opportunity for buyers.
Leander Median Home Price Up 14%
The median home price of a Leander home in March 2014 was $204,500 compared to $233,500 in March 2015, marking a 14% increase in year over year numbers.
Median home price helps us see the distribution of homes sold and does not really give us an indication of the increase or decrease in a particular home’s market value. To analyze market value, we’d have to take an in depth look at a neighborhood. If you’re looking for something like that, please check out our Leander Home Values Report.
Number of Homes Taken Off the Market Down 20%
In March 2014, there were 25 single family homes taken off the market compared to 20 in March 2015, marking a 20% (5 home) decrease city wide. This time of year we would expect the number of homes taken off the market to be at its lowest point all year, which is what we see in Leander.
If your Leander home was priced right but it still didn’t find a buyer, maybe there was something else going on. The biggest culprits we see are incorrect info in the MLS and poor marketing. Check out our Leander Home Marketing Plan to see how your homes would be marketed if we listed them. If you’d like our opinion on why your home didn’t sell email us at info@11OaksRealty.com.
Having trouble selling your home? Check out our Leander Home Not Selling resources page to find out why.
Number of Sold Homes in Leander Up 8%
In March 2015, Leander saw an 8% increase in the number of homes sold from March 2014 to March 2015. In March 2015, we saw 126 homes sell in Leander compared to 117 in March 2014 marking an 8% (9 home) increase in year over year numbers. It seems the Leander market got the message the busy season has started and responded.
Leander Homes Under Contract Up 9%
In March 2015, 147 homes went pending (under contract) in Leander compared to 135 in March 2014, marking a 9% (12 home) increase in year over year numbers.
Number of Homes on the Market Up 13%
In March 2015, we had 475 homes for sale in Leander, compared to 419 in March 2014, showing a 13% (56 home) increase in year over year numbers.
Number of Homes Listed for Sale Up 12%
In March 2015, we saw 184 homes introduced to the market compared to 164 in March 2014, marking a 12% (20 home) increase. It seems more sellers are looking to sell this year compared to last.
Supply Up 13% and Demand is Up 8%
This month we saw a 13% increase in supply (number of properties for sale) and an 8% indecrease in demand (number of sold properties). More supply then demand usually means good things for buyers.
Median for Sale Up 20% vs Median Sold Price Up 14%
This chart compares the Median for Sale Price vs the Median Sold Price to show their relationship. In Leander, we saw a 20% increase in the median for sale price and a 14% increase in the median sold price of a single family home in year over year numbers. It seems sellers think their homes are worth more than buyers, but buyers have been successful at negotiating them down.
Source: Clarus Market Metrics, ACTRIS Sold Data
March 2015 Leander Real Estate Price Report – Strictly Numbers
For those of you who prefer to see the actual numbers, we’ve included the figures for March 2015 Leander home sales below. The most expensive home that sold in March 2015 sold for $769,900 and the least expensive home sold for $108,000. Homes ranged in size from 1,041 sqft – 5,744 sqft with an average size of 2,343 sqft. The average price per square foot for a home that sold in Leander in March 2015 was $118.29 with the lowest being $57.84/sqft and the highest being $227.52/sqft. It took, on average, 59 days to sell a home in Leander and sellers received, on average, 98.47% of their original list prices.
|Beds||Baths||SqFt||List Price||LP/SqFt||Sold Price||SP/SqFt||SP/LP||SP/OLP||ADOM|
|Status||Sold||Sold Date||March 2015|
|Property Type||Single Family Homes||Number Sold||129|
|Source:||ABoR Sales Data||Area||Leander|
Time to Buy? Sell?
As we always say, the best time to buy or sell a home is when you need to buy or sell. If you have a house to buy, buying when its a sellers market may hurt you on the buying end, but you’ll make it up on the selling end. If you’re trying to get into the market for the first time, the only way you’ll know that we’ve “hit bottom” is when its in the rear view mirror. Work with professionals who can help you analyze your financial and lifestyle to determine if now is the right time to buy or sell.
Looking strictly at the numbers, it appears the recommendation for this month is – it’s time to buy. With 2.1 months of inventory on the market, supply up 13% and demand only up 8%, buyers who are looking for a deal might be able to negotiate one. Market forces favoring buyers might not last too much longer, so don’t wait. The earlier you can start the home buying process, the less you’ll pay. We expect demand and prices to increase as we head into Spring, which is just around the corner. If you’re looking to buy, we can help you find the right house in the right neighborhood for you and your family. We know the market and know how to negotiate the best deals possible. For more info about buying a home, visit Buy a Home in Leander.
If you’re a selling looking to sell, do everything you can to prepare your home to meet its new owner. Homes that are ready for the market sell faster and for more money. With the median sold price up 14% from last year, we know the buyers that are currently in the market are willing to pay slightly more for a home this year than last year. Make your home appealing to a buyer and you’ll have no trouble finding a buyer willing to pay a fair price. If you’re considering selling, work with a Realtor who knows how to get top dollar for your home. Check out our 88 Ways to Sell Your Home Faster and For More Money for some tips on how you can prepare your home to meet the market. The busiest time of year is just around the corner. Do what you can to prepare your home now and you’ll be ready at the perfect time. For more info about our Home Selling Program, check out Sell My Leander Home.
Questions About the Leander Real Estate Price Report?
Do you have questions about this Leander Real Estate Price Report? Call us at (512) 827-8323 or email us at info@11OaksRealty.com and we’ll help you in any way we can. If you’re looking to buy or sell Leander real estate, don’t forget to check out our Buyer Resources and our Seller Resources for more tips.