Tuesday, May 28th, 2019 at 5:38pm. 272 Views
The Omni Barton Creek Resort & Spa celebrated its grand reopening following an extensive $150 million renovation and expansion that began in November 2017. The ceremonial ribbon cutting ceremony was attended by Texas Governor Greg Abbott.
Renovations include a new lobby and arrival area, 493 freshly-designed guestrooms and suites, an all-new conference center with a 14,500-square-foot Brazos Ballroom and a redesigned 8,200-square-foot Darrell K Royal Ballroom, and a new 5,500-square-foot outdoor event pavilion. The tennis complex was redesigned and will feature 10 courts with LED lighting for evening play, and the resort’s four championship golf courses also were renovated.
The new Mokara Spa will offer a private adults-only rooftop pool, as well as…
Monday, May 20th, 2019 at 4:11pm. 307 Views
Austin-area Home Sales Up Almost 15 Percent in April 2019
Home sales in the Austin area increased 14.9 percent in April 2019 compared to April 2018, according to the Austin Board of REALTORS® April 2019 Central Texas Housing Market Report. Likewise, sales dollar volume was up 14.1 percent to $1,207,238,711. Prices for the region held steady, with a 1.6 percent increase leading to a median price of $320,000.
Following flat first-quarter 2019 growth in Central Texas home prices, ABOR President Kevin P. Scanlan said, “These narrower margins are a strong indication that market prices are starting to stabilize. In the first quarter of the year, the median price of a single-family home in the Austin-Round Rock MSA increased by just 0.2 percent, which is a…
Tuesday, April 30th, 2019 at 3:38pm. 528 Views
U.S. News and World Report ranked Austin, Texas at the top of its annual Best Places to Live in the USA 2019 report. With a total score of 7.6 overall, Austin received high marks for its desirability, with people “drawn to the Texas capital's music, outdoor spaces and cultural institutions.”
For the report, U.S. News analyzed 125 U.S. metro areas for quality of life, job market, value, and people's desire to live there. For desirability, Austin tied for its highest score with nine out of 10. Net migration also ranked a nine. Job market came in at 7.4, quality of life was 7.3, and value was 6.7.
Value ranked lower due to a median home price well over the national median, at $292,500 locally versus $226,500 nationally. While this was seen as a “a…
Friday, April 19th, 2019 at 3:17pm. 634 Views
Austin-Area Real Estate Up Slightly in March 2019
Austin-area real estate experienced a small uptick in March 2019, according to the Austin Board of REALTORS® Central Texas Housing Market report. Sales of single-family homes in the Austin-Round Rock Metropolitan Statistical Area increased 1.9 percent in March 2019, to 2,740 home sales. Median price increased 0.8 percent to $305,000, from $302,500 in March of 2018.
Total sales dollar volume for the Austin area increased 1.2 percent compared to March 2018 to $1,064,124,011. New listings were down 2.2 percent, while active listings were up 8.4 percent and pending sales were up 18.4 percent. Inventory increased by 0.2 months to reach a supply of 2.4 months.
The City of Austin experienced a decline in…
Saturday, March 30th, 2019 at 5:04pm. 1,531 Views
The state of Texas continues to outpace the United States in job growth and added 268,800 nonagricultural jobs from February 2018 to February 2019, according to the Real Estate Center at Texas A&M University. This equaled a 2.2 percent growth rate, compared to 1.7 percent for the nation's employment growth rate. Nongovernment jobs were added to a total of 256,000 in Texas, for an annual state job growth rate of 2.5 percent, compared to 1.9 percent nationally.
Unemployment in Texas in February 2019 was 3.8 percent, down from 4.1 percent in February 2018. The nation’s unemployment rate also decreased, from 4.1 percent to 3.8 percent.
The mining and logging sector experienced the strongest growth among Texas sectors, with an 8.41 percent change…
Thursday, March 28th, 2019 at 5:37pm. 698 Views
The Texas housing market remained strong in Texas in January 2019, fueled by a healthy labor market, population growth, and economic expansion, according to the Real Estate Center at Texas A&M University’s March 2019 Texas Housing Insight report.
Housing sales increased 1.2 percent, led by a rebound of home sales under $200k, which accounted to 41 percent of total sales. The Real Estate Center says that homes from $200k-$400k account for about half of Texas MLS sales.
Austin home sales increased 4.3 percent overall, with “strong gains for homes priced more than $300,000.” In San Antonio, homes under this amount experienced 6.5 percent growth. North Texas sales fell for the third month in a row, with a 2.4 percent decrease in Dallas and a 2.6 percent…
Thursday, March 21st, 2019 at 11:08am. 932 Views
February 2019 Home Sales Break Record
More Central Texas homes were sold in February 2019 than in any previous February, according to the Austin Board of REALTORS® February 2019 Central Texas Housing Market report. Sales increased six percent from February 2018 to 2,101 sales.
"We've been hearing from our members that buying and selling activity has really picked up over the past month," said ABOR President Kevin P. Scanlan. "We're seeing a lot of development in North Austin, as major tech employers are looking for space with ample room for housing development and access to major transportation arterials.”
Median home price in the Austin area for February 2019 was $295,000, a 0.3 percent decrease compared to $296,000 in February 2018. Inventory…
Thursday, February 28th, 2019 at 12:45pm. 787 Views
Experts with the Real Estate Center at Texas A&M University say that single family home sales will slow in 2019 and then bounce back in 2020. “This cooling period is necessary after multiple years of explosive growth, allowing the market to adjust in areas of extreme shortages and rapid affordability declines,” a release stated. Median price per square foot still is expected to increase by about four percent in major Texas cities.
In 2018, sales in the Texas housing market increased 1.7 percent. While a modest increase, home sales reached a record number. The report cited low inventory and decreasing affordability for the lessened rate of increase. And, while there was more construction activity, a shortage of homes under $300k stressed “more than…
Wednesday, February 27th, 2019 at 7:19pm. 738 Views
Texas is 18th in the nation for average annual homeowner cost among those who have a mortgage, based on 2017 United States Census Data compiled by Ali Anari with the Real Estate Center at Texas A&M University. These costs include real estate taxes, insurance premiums, utility payments, and property debts. Housing costs on median in the state were $18,156 per year.
The city with the highest cost in Texas was Frisco, which had costs substantially higher than median at $30,936. Next was The Woodlands at $29,016, Sugar Land at $28,044, Flower Mound at $27,084, Cedar Park at $25,716, and McKinney at $25,008. Austin skirted past the top ten most expensive and was in place eleven with a yearly cost of $23,028. Round Rock was 14th with $20,880.
On the low…
Monday, February 25th, 2019 at 9:20am. 953 Views
Austin-area Home Sales Flat, Median Price Appreciation Slows
Austin-area home sales decreased by 1.8 percent in January 2019, while median price increased 2.4 percent to $296,999, according to the Austin Board of REALTORS® January 2019 Central Texas Housing Market report. Housing inventory was still extremely tight, with a 2.3 month supply even following a 0.4 month increase for the month.
"In December 2018, new listings on the market returned to more normal levels compared to December 2017. This resulted in a slight decrease in January sales this year," said ABOR President Kevin P. Scanlan. “However, even though we are seeing slowing home price appreciation, future homeowners are still buying. That means Austin’s market remains extremely…