The real estate market is a multiverse. There really is no single simple market anymore. Back in the day real estate had basic reference points and avenues for everyone. The options were fairly black and white. Those were simpler times.
Then it happened. The real estate market started to split into a multiverse.
Continue reading
What does Austin real estate news market data look like now? According to the Austin Board of REALTORS® (ABoR), February Central Texas Housing Report closed listings increased 11.3% year over year to 2,581 sales across the Austin-Round Rock MSA last month. Combined with a new record median price, which rose 27.9% year over year to an all-time high of $499,995, 2022 is shaping up to be a big year for the MSA’s housing market.
When is the best time to buy a home in Austin? It was yesterday. When is the best time to sell? It is today. Austin real estate and every other market always operate in a constant state of looking in the rearview mirror. We use the past to predict the future, to value the present, and use it to reflect on what might have been. The constant state of reflection and prediction makes it hard to actually stay in the present whether you are a buyer or a seller. Continue reading
What does the Austin real estate market look like? The Austin-Round Rock MSA housing market in January experienced an overall decline in closed sales compared to January 2021 as the number of closed listings fell 5.8% to 2,295, according to the Austin Board of REALTORS® latest Central Texas Housing Report.
Screen capture of the MLS Active Homes for Sale in the Austin Round Rock MSA (2/18/22)
Austin housing market data is basically a rinse and repeat of the months before. Austin real estate activity in Central Texas is greatly influenced by price points right now over the location.
Back in the day, a buyer would choose an area they wanted to focus on. On a grand scale, they might choose one zip code, but would often scale that further down to an actual area within that zip code like Travis Heights or Tarrytown. Some might even scale that down further to a neighborhood like Circle C or River Place. Those were the days when there could be a large price differential between neighboring zip codes or even communities.
Those days are gone. Continue reading
Austin real estate continued to set records as it closed out 2021. According to the December 2021 and Year-End Central Texas Housing Market Report released by the Austin Board of REALTORS® (ABoR), more homes were sold in the Austin-Round Rock MSA in 2021 than ever before, with residential home sales rising 2.5% year over year to 41,316 homes sold last year.
The bigger Austin becomes, the more the flight path needs to be considered for homebuyers. Historically, a net gain of more than 100 residents a day, would mean longer commutes from Austin traffic to get to the office or even just the grocery store. After all, more people mean more cars, which lead to more traffic; all the result of a population increase. Now, throw a pandemic into the mix and you’ve got an outlier that skews the data. Continue reading