Welcome to the MAYcember real estate market

Posted on May 29, 2024 by Doreen Zelma, REALTOR

The MAYcember real estate market is here. Spring has arrived, but it doesn’t quite look or feel like it, at least not in Central Texas. I think Mother Nature is a bit confused this month. April showers are supposed to bring May flowers – but we had them early this year. Instead of stopping to smell the roses, we have to hustle. It’s Maycember, after all. This is the month when there is not enough time in the day like December, only without gifts at the end. Our plates are full with prom season, graduation, college move-out, end-of-school, wedding season, and for many the start of home buying and selling season. Continue reading →

Spring Austin Real Estate Market: Sales Bloom

Posted on May 17, 2024 by Doreen Zelma, REALTOR

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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Austin Real Estate Market Shifts: More Homes, Buyer Options

Posted on April 18, 2024 by Doreen Zelma, REALTOR

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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Insights into Austin Home Building Trends

Posted on March 27, 2024 by Doreen Zelma, REALTOR

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 Real Estate is Starting to Bloom

Posted on March 20, 2024 by Doreen Zelma, REALTOR

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 →

Austin Real Estate and Central Texas Market Optimistic

Posted on February 17, 2024 by Doreen Zelma, REALTOR

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.

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Austin Real Estate Chills: Prices Stabilize December 2023

Posted on January 20, 2024 by Doreen Zelma, REALTOR

Austin real estate market news for January 2023 is here. The Central Texas housing data shows that the Austin Round Rock MSA experienced a decrease in residential homes sold down 8.9% year-over-year to 2,295 total sales that resulted from a drop in demand. The decline in inventory turnover leveled Austin home prices a bit, with interest rates playing a key role in cooling off the market in 2023.

According to the Austin Board of REALTORS® December 2023 Central Texas Housing Market Report, the Austin-Round Rock MSA, experienced an increase month-over-month in closed sales by about 230 units. Sellers met the market where it was as buyers were challenged by some of the highest rates of the year. Pending sales month-over-month were also up by about 20 units but seasonally comparing year over year, December was up by 13%.