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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Not all investment properties are alike. I’ve had a few investors inquire about buying homes for short-term rentals or STR’s as they are commonly referred. Keep in mind the devil lives in the details even if he’s just staying for a few days. I wrote recently about building and how restrictions can be stacked between the city, HOA and the deed itself. Short term rental rules are stacked too, but with a slightly different set of blocks. Here’s a little insight into how short-term rentals work in Central Texas and why it’s not safe to assume anything.  Continue reading
Austin Real Estate News – In March, new home listings across the Austin-Round Rock-Georgetown MSA jumped to 4,714 new listings, 10.2% more than March 2023, leading to multiple markets reaching four months of inventory, according to the latest Central Texas Housing Report. The data indicates that homeowners have confidence in their ability to sell their homes for good value while buyers now have a larger selection of home options, helping to keep price growth flat.
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The current home builders’ mindset is that if they build them, buyers will come. Building spec homes (based on speculation) can look like playing the lottery. Developers, along with builders, are rolling the dice that the demand will be there at today’s level of need (or greater) when the homes are complete.
While demand shapes Austin’s homebuilding trends, the existing inventory of developable land also influences what gets built. With land becoming increasingly scarce, maximizing housing density is a top priority. It’s the reason why condo regimes are common and why new homes are getting smaller. Continue reading
AUSTIN, Texas — The bluebonnets are popping along with the Austin real estate market. Spring is definitely in the air. In February across the Austin-Round Rock-Georgetown MSA, new listings jumped 44.9% to 3,915 listings bringing the total months of inventory for the region to 3 months, up 0.1 months more than February 2023, according to the latest Central Texas Housing Market Report. The data indicates that more owners are ready to sell, giving buyers a broader range of home options to choose from–specifically first-time homebuyers. Continue reading
The first date with your dream home can feel like love at first sight. I was showing a home four years ago and when we got as far in as the kitchen, my client waved her hand and said, “Call the listing agent and tell her it is sold. We are buying it, just take it off the market.” She never turned to look at me. Too enamored with her surroundings, I just got a wave and my instructions. Those were the wild west market days of 2021. Emotions were running high. A bit tongue in cheek, I complied and called the listing agent telling her to expect an offer. My client was in love. Continue reading
AUSTIN, Texas — The latest Austin real estate news includes a first market analysis of the year released by the Austin Board of REALTORS® and shows an increase in residential homes sold, up 4.3% year-over-year to 1,667 closed sales, and an uptick in pending sales, which rose 3.8% to 2,480 listings, according to the latest Central Texas Housing Market Report. The data demonstrates that more options are available for potential homebuyers and sellers are feeling optimistic moving into 2024.
Clare Losey, Ph.D., housing economist for Unlock MLS and the Austin Board of REALTORS, noted that although still elevated, the recent decline in mortgage rates is contributing to lower home prices and the increase in closed sales activity.