AUSTIN, Texas —In April, closed listings across the Austin-Round Rock-Georgetown MSA increased 5.9% to 2,708 sales, the highest year-over-year increase in residential homes sold this year, while the median home price rose 1.1% to $469,998. The data demonstrates that there is a collective sense of confidence and optimism in the housing market among both homebuyers and sellers according to the latest Central Texas Housing Report.
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What makes a home a condo? I represent buyers and sellers all over Central Texas. When I’m not looking for specific buyers, I’m touring new communities. I have seen various types of condominium regimes and neighborhoods comprised of fee simple single-family houses. Think you can tell a fee simple house from a condo? Think again. The perception is that you can tell a single-family house or duplex from a condo just by looking at it. Truth be told, there is nothing about the style of a house that dictates its classification. Continue reading
Resales vs new builds, home selling decisions, interest rates, home buying decisions, and builder incentives, the spring real estate market is just about over as we start to dip our toes into summer. You can see the market light up with the increase in listed homes and pending sales. Inventory is hovering at about 3 months in most counties in Central Texas. While it is still a seller’s market, it is also a bit of a make-it-work market with everyone feeling a bit like a squirrel in the middle of the road.
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Austin real estate news from Doreen for January is here. In 2022, the median price for a home in the Austin-Round Rock MSA set a new annual record of $503,000, according to the December 2022 and Year-End Central Texas Housing Market Report released by the Austin Board of REALTORS®. Despite this record, the housing market continued shifting towards buyers as home sales declined and inventory increased, with homes on the market for 31 days, 11 days more than in 2021.
Austin real estate news from Doreen for December is here. For the first time since February 2019, median home prices in the Austin-Round Rock MSA experienced a 0% year-over-year increase. The data is according to the Austin Board of REALTORS® November 2022 Central Texas Housing Market Report. As housing inventory and days on the market continue to steadily increase across the MSA, the report indicates normal market activity could be here to stay. Austin’s housing market maintains its trajectory toward balance and sustainability. For the first time since the spring of 2020, there were no records broken for home sales or median price in either the MSA or the City of Austin.
Austin real estate news for November is here. October housing data continued its recent trend of more stable and sustainable appreciation, even while hitting $474,900—a record for the month of October. according to the latest Central Texas Housing Market Report released by the Austin Board of REALTORS®. The data indicates the continued return to normal activity. Inventory also rose to 3.2 months of inventory, half the amount of housing inventory needed for a market to be considered balanced.
Homes for Sale or on Sale? There are two types of residential real estate on the market right now: homes for sale and others on sale. Pricing is a bit all over the place because homes don’t enter the market at the same time. Some were listed in May, others entered in August and more were placed on the market yesterday. The May market was very competitive and it’s also five months old. The May market doesn’t mean much today, and neither does June, July, or August for that matter. What matters is now which is why many home prices are decreasing.
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