Friday, August 26th, 2016 at 1:55pm. 92 Views
Millennial homebuyers have a piece of good news: Austin starter homes are the largest in the nation, at 1,428 square feet, according to Trulia and reported in its article, Room to Roam: Where Starter Home Buyers Can Live Large.
Notably, the South in general fared much better than other areas of the country, with five of the top ten markets for the biggest starter homes in Texas. In fact, the Lone Star State fared very high in its reporting of the largest square footage for all three categories: starter homes, trade-up homes, and premium homes.
In the starter home category, after Austin was Atlanta at 1,344 square feet, Newark at 1,330 square feet, Montgomery County, PA at 1,326 square feet, and Houston at 1,300 square feet.
For trade-up homes,…
Sunday, August 21st, 2016 at 3:30pm. 209 Views
Austin-area Home Sales Down 4.9 Percent, Home Prices up 5.6 Percent
Single-family home sales in the Austin-area decreased 4.9 percent in July 2016 compared to July 2015, to 2,900 home sales, but median price saw another increase, rising 5.6 percent to $285,000, according to the July 2016 Central Texas Housing Market Report by the Austin Board of Realtors®.
“When it comes to sales volume, we’ve grown very used to seeing year-over-year increases every single month, but it’s important to remember that 2015 had the strongest summer selling season in the region’s history,” said ABOR President Aaron Farmer.
Housing inventory in the Austin-area was statistically unchanged compared to July 2015, at 2.8 months, almost four months shy of the rate…
Friday, July 22nd, 2016 at 2:25pm. 345 Views
How good are the schools? This is one of the most important questions homebuyers can face when choosing a neighborhood to call home. As it turns out, there are a variety of central Texas schools and districts that show solid SAT scores, a good indicator of the school’s overall academic level.
The Austin Business Journal reported average SAT scores at public high schools based on the Texas Education Agency's Texas Academic Performance Reports and found that Austin Independent School District, Round Rock Independent School District, Eanes Independent School District, Leander Independent School District, and Lake Travis Independent School District all have schools in the top ten.
Here are the top 15 schools for SAT scores in the Austin area:
Tuesday, July 19th, 2016 at 2:27pm. 449 Views
The Austin home real estate market remains scorching hot and is on pace to surpass the record-breaking numbers of 2015, according to the Austin Board of REALTORS® June 2016 and Mid-Year 2016 Central Texas Housing Market Report.
“The Austin-Round Rock housing market is on track to outpace 2015 market levels, which was a record-breaking year for home sales,” said ABOR President Aaron Farmer. “Despite the ongoing housing shortage and affordability challenges impacting our region, population growth and housing demand continue to drive home sales upward.”
For the month of June 2016, home sales in the Austin-Round Rock Metropolitan Statistical Area increased 8.5 percent compared to June 2015, to 3,219 sales. Median price increased 8.2 percent to $295,500.…
Wednesday, July 13th, 2016 at 1:06pm. 578 Views
Condominium sales in Texas’ major metro areas increased during the first half of 2016, seeing demand over townhomes and single-family homes among young professionals and retirees, according to the Texas Association of REALTORS® Texas Condominium Mid-Year Sales Report.
The metros of Austin, Dallas, Houston, and San Antonio experienced increases in condo sales between January 2016 and May 2016 when compared to the same six-month period last year. Townhomes saw a slight decrease.
“Many young urban professionals and newly retired baby boomers are buying condos, as they provide an affordable alternative to single-family homes and townhomes,” said TAR Chairman Leslie Rouda Smith. “These Millennials and retirees don’t want the upkeep of a traditional,…
Tuesday, June 21st, 2016 at 5:56pm. 611 Views
Home Sales Jump 10% in Austin-Area
Home sales in the Austin-area jumped 10% in May 2016 compared to May of last year, and in Williamson County, the increase was even higher at 19.5 percent, according to the Austin Board of REALTORS® May 2016 Central Texas Housing Market Report.
“Housing demand continues to be at an all-time high in the Central Texas region, with properties priced under $500,000 selling rapidly,” said ABOR President Aaron Farmer. “Williamson County homes are among the most popular in the region due to the county’s highly rated school districts, access to major thoroughfares and proximity to major employment hubs in Austin.”
In the Austin-area, the greatest movement was seen in pending sales. The Austin-area had 3,297 pending sales…
Tuesday, June 21st, 2016 at 2:40pm. 598 Views
Austin, Texas is the best market in the nation for millennials to purchase real estate, according to a June 2016 report by the National Association of Realtors that reviewed employment, population, income, and housing condition data in the nation’s largest metro areas.
Among the rankings, Charleston came in second, followed by Denver, Minneapolis, and Ogden, Utah for the top five. Portland, Raleigh, Salt Lake City, Seattle, and Washington, D.C. comprised the rest of the top ten.
According to the report, millennials represent 18% of the Austin population and 29.4% of those moving into Austin. These figures both represented the largest percentage of millennials among the 100 largest metro areas. Austin employment grew 4.9% over the 12-month period…
Monday, June 13th, 2016 at 12:18pm. 607 Views
Texas’ economy is showing signs of recovery following impacts from a 2015 drop in oil prices, according to the Real Estate Center at Texas A&M University’s Monthly Review of the Texas Economy. In April 2016, Texas had its fourth month with an annual employment growth rate exceeding the annual growth rate in December 2015, which indicates that the worst of the downturn has passed.
Texas gained 187,500 nonagricultural jobs from April 2015 to April 2016 for an annual growth rate of 1.6 percent. The nongovernment sector also grew its annual rate by 1.6 percent, adding 154,000 jobs.
The seasonally adjusted unemployment rate was 4.4 percent in April 2016, the same rate as April 2015. The actual unemployment rate for the state was 4.2 percent. Amarillo had…
Thursday, May 19th, 2016 at 6:36pm. 798 Views
Central Texas Home Sales Jump 12.5 Percent, Austin Median Price Jumps Over Ten Percent
Single family home sales in Central Texas increased 12.5 percent in April 2016, compared to April of last year, for a total of 3,863 home sales. However, almost 80 percent of these homes were not sold within the City of Austin but in the surrounding region, according to the April 2016 Central Texas Housing Market Report released by the Austin Board of REALTORS®.
Hays County led the way, with a year-over-year increase of 17.8 percent in home sales in April 2016, for 338 home sales. The City of Austin had a 1.7 percent increase in single-family home sales, with 829 home sales. Williamson County actually saw a decline in sales, decreasing 5.1 percent year-over-year…
Tuesday, May 10th, 2016 at 3:43pm. 743 Views
Central Texas homebuilders began construction on 40 percent more homes in the first quarter of 2016 than in the first quarter of 2105, according to Metrostudy, as reported by the Austin American-Statesman and the Real Estate Center at Texas A&M University.
This dramatic rise equaled 3,570 new home starts in the first quarter of this year, compared to only 2,549 new home starts in the first quarter of last year. When comparing the first quarter of this year to the last quarter of 2015, home starts also were up: 32 percent over 2015’s last quarter new home starts of 2,702.
Year over year, new home starts were up 9.2 percent in the 12 months ending in March 2016, compared to the 12 month-period ending in March of 2015. This equaled 12,590 new home…