Homes in East Austin are some of the best value in town, and I wanted to check to see if there was as much seasonality in home sales in this part of town as the rest of Austin.
I took a look at single family home sales in the Austin Multiple Listing System (MLS) in years 2005-2009 inclusive. The areas I included were MLS areas 3 and 5 – this runs from the river on the south and is bordered by I35 and 183. By car, you can be downtown in between 2 and 15 minutes.
I focused on close date (the date the sale goes through and the title ownership switches from seller to buyer) to look for the seasonal variation. It was broadly the same distribution as the rest of Austin (see chart right.
As a rule of thumb, the time between contract date and close date is typically 30 days. So for the peak closing months of May, June and July, the contract was typically written one month earlier – from April to June.
Does this mean that the best time to put your home on the market is April? Not necessarily. Inventory is typically higher in these months, and I’ll write more about listing competition in a separate post.
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