Austin Real Estate and Central Texas Market Optimistic

Austin real estate news l homes for sale in AustinAUSTIN, 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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Unlocking Austin Texas Real Estate

Unlocking Austin Texas Real Estate l Moving to Austin Tx l move to AustinPeople are still moving to Austin TX. Some even want to move to Austin again. It may be taking a little longer to buy a property partly because of affordability and supply. While the supply is the best it’s been in years, it’s not a compact inventory. The Austin real estate footprint continues to expand its reach in every direction.  Buyers may be able to choose a zip code, but not necessarily a neighborhood.

One of the reasons choices are limited is that homeowners are locked into historically low mortgage interest rates they aren’t motivated to lose – until they get the bug, that is. Once they get the buyer’s bug, the only cure is to buy. 

For sellers who need to sell to purchase another home – that bug is getting hungry if it’s been around for a while. Now that the interest rates have settled down, the decision to move forward with the sale is a little more palatable. Lower interest rates will not only help with affordability, but they will also help with supply.

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Austin Real Estate Chills: Prices Stabilize December 2023

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%.

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Austin Real Estate is Lit Up with More Homes, Lower Prices

Austin Realtor l Central Texas real estateAustin real estate market news for December 2023 is here. The Central Texas housing data shows that the Austin Round Rock MSA dropped 8.4% to $424,450 last month. The market is now illuminated with an abundance of homes, lower interest rates, and more attractive price tags. If you’ve been dreaming of owning a piece of Austin magic, now might be the time to step out of the cold and into a warm, welcoming home.

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Buy a home or sell one now? Fall Real Estate Guide

Real estate guide for fall l Austin real estate market l home buyer advice l home seller adviceSome homebuyers and sellers had their fill of the Austin real estate market this past year. There are reasons to stay in the market, to get in the market, and certainly reasons to step away for now. As the song goes, you gotta know when to hold ‘em, fold ‘em, and walk away. Here is a real estate guide to navigate the fall market with home buyer and home seller advice. Continue reading

Austin Real Estate Market on the Move: November 2023

Austin real estate market news for November 2023 is here. The Central Texas housing data shows that the Austin Round Rock MSA experienced an increase in residential homes sold rising 4.1% year-over-year to 2,337 total sales demonstrating that buyers are finding value in the market despite higher interest rates. October median sales prices dipped 7.5% and spent an average of 21 more days on the market year over year.

According to the Austin Board of REALTORS® October 2023 Central Texas Housing Market Report, the Austin-Round Rock MSA, experienced a decrease month-over-month in closed sales by about 50 units. Housing inventory is the best it has been in years and buyers are showing up.  Pending sales month-over-month are also down by about 50 units but seasonally comparing year over year, October was up by 12%.

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How’s the Market? It’s Making Lemonade

Austin real estate market l Austin Texas Housing Market l How's the market? l builder incentives How’s the market? Making today’s real estate market work means making lemonade. The real estate market as a whole is slow. It’s slow because people have more homes to see than they have had in years. It’s slow because mortgage interest rates are high enough to question whether any house is worth it. It’s slow because housing prices haven’t really come down enough to aid in the affordability factor. Interest rates and housing prices equal fewer ready, willing, and able buyers. While it may be slow, it is not dead. More and more sellers are meeting the market where it is. 
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