RE/MAX National Housing Report For March 2021

Median Home Price Tops $300,000 as Speed of Sales Shrinks Inventory

DENVER — March home sales jumped by one-third over February’s total as demand from hordes of eager homebuyers pushed the Median Sales Price above $300,000 for the first time in the 13-year history of the report. Meanwhile, the pace of sales accelerated – to the fastest rate on record for the month of March – dropping an already strained housing inventory to nearly half of what it was a year ago.

“It’s definitely a seller’s market right now, and homes are selling at a feverish pitch, further crimping this historically low inventory situation,” said Adam Contos, CEO of RE/MAX Holdings, Inc. “On average, homes that sold last month had been on the market just 38 days, nearly three weeks less than the March average of 59 days from the past four years.”

Although year-over-year comparisons are skewed by the start of pandemic restrictions in mid-March 2020, housing activity in the report’s 53 markets nationwide last month hit several notable milestones and barely missed another, including:

• The Median Sales Price of $303,000 rose 4.5% above the previous report record of $290,050 in February – and was 14.3% higher year over year.
• Inventory dropped to a new report low for the ninth consecutive month and was 45.2% lower year over year.
• Average Months Supply of Inventory set a report record of 1.1, eclipsing the previous low of 1.7 months in February. The figure for March 2020 was 3.2 months of available supply.
• The average Days on Market of 38 was 16 days less than March 2020 and just two days more than the report record of 36 set last November. March was only the fifth month in report history with average Days on Market under 40. All five times have occurred in the past seven months.

Contos continued: “New listings are coming onto the market, but because houses are selling so fast, the inventory total can’t keep pace. The result is a constantly thinner range of options for buyers to consider. In many markets, buyers have to race to make an offer – often over listing price – to get the house they want, and that competition creates an attractive environment for sellers. It’s tricky on both sides of the equation, and RE/MAX agents are using their industry-leading experience to help buyers and sellers achieve the best outcome.”

Highlights and the local markets leading various metrics for March include:

Closed Transactions 
In the 53 metro areas surveyed in March 2021, the overall average number of home sales were up 34.3% compared to February 2021, and up 15.0% compared to March 2020 when pandemic restrictions began. Leading the year-over-year sales percentage increase were New York, NY at 62.6%, San Francisco, CA at 37.9%, and Miami, FL at 36.9%.

Median Sales Price – Median of 53 metro median prices
In March 2021, the median of all 53 metro Median Sales Prices was $303,000, up 4.5% from February 2021, and up 14.3% from March 2020. One metro area, Honolulu, HI, saw a 4.7% decrease year-over-year in Median Sales Price. Thirty-nine metro areas increased year-over-year by double-digit percentages, led by Boise, ID at 31.9%, Augusta, ME at 21.6%, and Pittsburgh, PA at 20.8%.

Days on Market – Average of 53 metro areas
The average Days on Market for homes sold in March 2021 was 38, down four days from the average in February 2021, and down 16 days from the average in March 2020. The metro areas with the lowest Days on Market were Salt Lake City, UT at 16, and a two-way tie between Boise, ID and Seattle, WA at 17. The highest Days on Market averages were in Des Moines, IA at 94, Miami, FL at 90, and New York, NY at 84. Days on Market is the number of days between when a home is first listed in an MLS and a sales contract is signed.

Months Supply of Inventory – Average of 53 metro areas
The number of homes for sale in March 2021 was down 8.9% from February 2021 and down 45.2% from March 2020. Based on the rate of home sales in March 2021, the Months Supply of Inventory decreased to 1.1 compared to 1.7 in February 2021, and decreased compared to 3.2 in March 2020. A six-month supply indicates a market balanced equally between buyers and sellers. In March 2021, all 53 metro areas surveyed reported a months supply under six, which is typically considered a seller’s market. The markets with the lowest Months Supply of Inventory were a four-way tie between Albuquerque, NM, Denver, CO, Boise, ID, and Seattle, WA at 0.4.

To request an interview, please contact mediarelations@remax.com. The housing report video can be viewed here.

For additional metro-specific data, download a PDF of the press release via the media cart.

About the RE/MAX Network
As one of the leading global real estate franchisors, RE/MAX, LLC is a subsidiary of RE/MAX Holdings (NYSE: RMAX) with over 135,000 agents in more than 110 countries and territories. Nobody in the world sells more real estate than RE/MAX, as measured by residential transaction sides. RE/MAX was founded in 1973 by Dave and Gail Liniger, with an innovative, entrepreneurial culture affording its agents and franchisees the flexibility to operate their businesses with great independence. RE/MAX agents have lived, worked and served in their local communities for decades, raising millions of dollars every year for Children’s Miracle Network Hospitals® and other charities. To learn more about RE/MAX, to search home listings or find an agent in your community, please visit http://www.remax.com. For the latest news about RE/MAX, please visit news.remax.com.

Description
The RE/MAX National Housing Report is distributed each month on or about the 15th. The first Report was distributed in August 2008. The Report is based on MLS data in approximately 53 metropolitan areas, includes all residential property types, and is not annualized. For maximum representation, many of the largest metro areas in the country are represented, and an attempt is made to include at least one metro from each state. Metro area definitions include the specific counties established by the U.S. Government’s Office of Management and Budget, with some exceptions.

Definitions
Transactions are the total number of closed residential transactions during the given month. Months Supply of Inventory is the total number of residential properties listed for sale at the end of the month (current inventory) divided by the number of sales contracts signed (pended) during the month. Where “pended” data is unavailable, this calculation is made using closed transactions. Days on Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. Median Sales Price is the median of the median sales prices in each of the metro areas included in the survey.  

MLS data is provided by contracted data aggregators, RE/MAX brokerages and regional offices. While MLS data is believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Every month the RE/MAX National Housing Report re-calculates the previous period’s data to ensure accuracy over time. All raw data remains the intellectual property of each local MLS organization.

Source:  https://news.remax.com/press-release/remax-national-housing-report-for-march-2021

RE/MAX Vision Hutto Winner of “Best of Services” in Hutto!

We are eager to announce that we won “Best of Services” in Hutto! Thank you to all of Hutto residents for supporting and voting for us! Check out iHutto’s website see us listed under the “Best of Services” along with other businesses in Hutto!

These Are the Features Home Buyers Want Most in 2021

What buyers want in a home changes all the time. So, the question is—what are home buyers looking for in 2021?

The National Association of Home Builders 2021 What Home Buyers Really Want report (outlined in a recent article from REALTOR® Magazine) explored the features that home buyers find the most desirable in 2021, including:

So, what are the features that home buyers consider most essential in 2021?

• Laundry room (87 percent)
• Exterior lighting (87 percent)
• Ceiling fan (83 percent)
• Energy Star-rated windows (83 percent)
• Patio (82 percent)

The report also broke down the most desirable features by category, including room (for example, side-by-side double sinks are the most in-demand feature for kitchens), accessibility (full bath on the main level), and technology (programmable thermostat).

The Takeaway:

So, what does this mean for you? If you’re on the home search, knowing what features are the most in demand can help you when evaluating properties—and if you’re selling, knowing what buyers want in 2021 can help you update and frame your home in a way that’s going to appeal to those buyers.

Source:  https://innercircle.lightersideofrealestate.com/articles/market-news/current-market-news/features-home-buyers-want-most-2021

Open House Etiquette for Home Buyers

A favorite pastime of many people is to attend Sunday open houses, whether they’re in the market to buy a home or they’re just simply curious. Open houses also provide agents with a great way to meet potential clients who wander in off the street.

But a certain amount of etiquette is involved from both sides. You should understand the role of the agent who’s holding the house open before you head out to explore someone else’s home, and you’ll want to avoid overstepping your bounds as well.

Key Takeaways

• There are some general, common-sense guidelines for what to wear and how to behave at an open house.
• An engaged agent is more likely to help you buy the house you like or sell the home you have.
• If you’re thinking of selling your home, open houses are an excellent opportunity not only to see your competition but help you find an agent you like.

What to Wear?

Yes, an open house is an informal event, and there’s certainly no need to break out your high heels or a tie. But try to avoid super casual attire like flip flops, bathing suit tops, seen-better-days sweatpants, and the like. You’ll still gain admittance, but agents may not take you seriously if you are indeed looking to buy.

To Ring the Bell or Not to Ring?

Not all real estate agents host open houses in the same manner, so you can’t always be sure who will answer the door. It could be the listing agent, a neighbor, a buyer’s agent, or even the seller.

But one thing is certain—you don’t have to ring the doorbell or knock on the door unless there’s a sign posted instructing you to do so. Otherwise, open the door and walk-in.

Call out “Hello!” if you don’t immediately see an agent. They might be otherwise occupied in another room.

When You’re Inside

You’ll want to wait to enter a room until any other visitors who are already there have departed. There’s plenty of other space to explore in the meantime.

And remember your manners. Don’t use the bathrooms, and don’t open drawers, cabinets, the refrigerator, or closed doors. People still live in the home in most cases—and it’s intrusive.

What to Expect From the Agent

The agent might be standing at the front door when you arrive, waiting to greet you. This type of agent will shake your hand, introduce themselves, get your name, hand you a flyer, and tell you to go through the house at your own pace. The agent might follow you to point out features and answer questions you didn’t realize you had.

It’s also possible that the agent might be outside in the driveway, asleep behind the wheel of their car. This agent might leave the door ajar and never get up to greet you. Feel free to go inside anyway. Make a note of the agent’s name—you’ll probably find it on pamphlets or business cards near the front door—and promise yourself that you will not call this broker.

Or the agent might fall somewhere in between. This non-engaging type might be reading a book in another room and will say something along the lines of, “There’s information on the counter. Let me know if you have any questions.”

This is probably an agent who didn’t want to hold open the home, but they’re doing it so they can tell their seller that they did. You might want to stay away from this one as well.

In any case, avoid taking up a huge chunk of the agent’s time. Just make sure you have a business card if you have many detailed questions about the property and you’re seriously considering buying. You can always follow up later.

Is the Open House Agent the Listing Agent?

Asking is the best way to find out if the agent holding the open house is the listing agent.

You can’t always count on the agent’s name appearing on the For Sale sign or that they’ll be wearing a name badge. Sometimes two agents will co-list a home. You could find yourself dealing with a dual agency situation if you buy through this agent and your state allows it.

More often than not, the agent holding the listing open will not be the listing agent but rather an associate agent. This agent will be hoping to represent a buyer to buy that home (or any other home, for that matter).

Sometimes the agent listing the home will head a team of buyer’s agents. Those agents will often host the open house in this case. Some team leaders don’t want to directly represent the buyer because they feel there’s a conflict of interest that interferes with their fiduciary responsibilities to the seller.

Open House Homebuyers With Agent Representation

If you’re already working with an agent, let the agent hosting the open house know. Realtors are technically required to ask buyers about this, but they sometimes forget.

The easiest way to inform the agent that you’re working with another agent is to walk in with your agent’s card in hand. Just hand it over to the other agent and say, “This is my agent.” The agent at the home shouldn’t try to solicit you when they’re made aware of this information

Buyers Without Agent Representation

Let the agent at the home know that you’re still shopping for a buyer’s agent if you haven’t yet decided on someone. Maybe you’ll want to interview the open house agent to determine if you want to work with this person.

Open houses are an excellent way to find an agent because you’ll meet face-to-face, and you can witness the agent in action as well.

Open House Buyers Who Stop on a Whim

Buyers will often drop in on an open house simply because it’s open. Maybe it’s a home you’ve often admired, and you’re curious to see what it looks like inside. Just be honest and tell the agent that you have no inclination to buy if this is the case. You can still tour the home.

More than one person has decided to buy a home because they unexpectedly and immediately fell in love with it at an open house.

Neighbors Who Visit Open Houses

You might think the agent doesn’t want you to come to the open house if you’re a neighbor, but most agents would love to show you the home and get your feedback about it and the area. Neighbors are a great source of information.

You also might have a friend or coworker who would be interested in the property. Don’t feel embarrassed to admit to the agent that you are “a neighbor from down the street.“

Source: https://www.thebalance.com/open-house-etiquette-for-home-buyers-1798302

One Eleven East celebrates 5-year anniversary in Hutto and 2 other area business updates

Venue site features include a main open area, a built-in bar, loft, skylight room and an outdoor courtyard. (Courtesy One Eleven East)

One Eleven East has said “I do” to five years of business in Hutto. Read on to learn more about the wedding venue site’s features along with two other area business updates.
Anniversary: One Eleven East

One Eleven East will celebrate its fifth anniversary Jan. 16, owner Erika Williams confirmed. The wedding and events venue is located at 111 East St., Hutto. 512-202-2044. https://oneeleveneast.com

Now open: Tropical Curry and Grill

Tropical Curry and Grill opened Nov. 12 at 1615 Grand Avenue Parkway, Ste. 208, Pflugerville. The Indian restaurant’s menu features dishes such as chicken and shrimp curries, tandoori chicken, roti and vegetarian satay, among others. 512-433-6298. www.tropicalcurryandgrill.com
Source:  https://communityimpact.com/austin/pflugerville-hutto/impacts/2021/01/12/one-eleven-east-celebrates-5-year-anniversary-in-hutto-and-2-other-area-business-updates/

Hutto family starts sock business to help support son with autism.

Wanting to give their son who has autism something to do, Mark and Sally Lyons started SammySocks Etc.

HUTTO, Texas — A chance to help their son even after they’re gone, that’s what one Hutto couple is hoping their new business can do. 

SammySocks Etc. started back in September of 2020. Mark and Sally Lyons started the company so their son, Samuel, who has autism, could have a job and ultimately a company that helps him long term.

Samuel currently helps the sock company by packing up their “bells and whistles” bags. It’s his way to help contribute right now. 

The company started when Samuel aged out of the public education system. On their website, they say “Our mission is to make available dignified employment, contribute to a sense of worth, and foster respect for adults with differing abilities through the selling of quality products.”

Their ultimate goal is to help other people with different abilities, like their son, when they grow.

“We have people we’ve talked to either have a son or daughter who’s autistic or on the spectrum, it doesn’t have to be just autism, just someone with differing abilities. ‘When you get big enough, let us know, we’d like to have them come work for you.’ So we already got people lined up as we go, as we get bigger,” said Mark Lyons. 

If you would like to buy some socks and support Samuel and SammySocks Etc., you can do so here.

Source: https://www.kvue.com/article/news/local/sock-business-to-help-support-son-with-autism/269-9da7ddbf-c4f3-4661-8029-b2b814be1108?fbclid=IwAR33w6AKZOcDZoBJwOh7fgV-GLWgQLaZdfnFsbKWMBKVk-tNK1rfOzI9Zwo