Thursday, February 15th, 2018 at 5:08pm. 177 Views
January 2018 shows continued strength of Austin-area real estate market: Record-breaking sales and prices could continue
Home sales increased across the five-county Austin Metropolitan Statistical Area in January 2018, “setting the pace for what could be another record-breaking year,” according to the Austin Board of REALTORS® January 2018 Central Texas Housing Market Report. Sold prices for homes in the Austin-area increased 3.6 percent over January 2017 to $290,000, and home sales volume increased 8.5 percent to 1,655 sales. Inventory remained the same as last January at 1.9 months, well below an average balanced market of six to 6.5 months. Pending and active listings indicate February 2018 also will be a strong month for sales, according to the…
Wednesday, January 31st, 2018 at 10:51am. 242 Views
Following a low-momentum period, Texas single-family housing construction permits jumped 17.2 percent in November 2017 to reach pre-recession levels, according to the Real Estate Center at Texas A&M University. In Austin, construction permits were up 24.9 percent, with Dallas permits increasing 13.9 percent. Additionally, the Texas Residential Construction Leading Index reached its highest level since April 2017, which indicates likely improvements in residential construction through the end of the year, according to the report. Texas housing starts increased for the second straight month, with a year over year increase of 11 percent.
Overall home sales in Texas increased 6.6 percent in November 2017, despite challenges in available inventory for…
Friday, January 19th, 2018 at 5:16pm. 523 Views
2017: Another Record-Breaking Year for Austin-area Real Estate
Austin-area real estate achieved another record-breaking year in 2017, with home sales volume increasing 2.4 percent to 30,059 sales and median home price increasing 5.4 percent to $299,900, according to the Austin Board of REALTORS® December and Year-End 2017 Central Texas Housing Market Report. For home sales in the city of Austin, sales volume increased 2.5 percent to 9,278 sales, and median price reached an all-time high of $362,000.
Despite the record-breaking year, there are indications the real estate market will return to a more “normalized” positive pace soon. “While the Austin area continues to break records, the pace at which annual home sales and prices are increasing in…
Tuesday, January 16th, 2018 at 2:35pm. 484 Views
The Real Estate Center at Texas A&M University has released its January 2018 outlook for the Texas economy, with major factors robust, including those involved with residential real estate.
Housing sales across the state expanded, despite “shortages of homes priced under $300,000,” which is making entry level and starter home purchases potentially more difficult for many buyers. Residential construction activity held steady. And the Residential Construction Leading Index reached its highest level since April 2017, with increased weighted building permits and housing starts. The report stated that this signaled residential construction activity improvements through the end of 2018.
Rebuilding efforts around the Texas Gulf Coast contributed to 8,200…
Friday, December 29th, 2017 at 2:46pm. 551 Views
Austin, Texas is a top United States city for tech-savvy millennials, according to Forbes. Austin, along with Denver, Seattle, Pittsburgh, Durham, and Minneapolis were recently featured cities that provide millennials “the social, cultural and intellectual stimulation that they seek,” as well as an affordable cost of living. Forbes said the key to success for millennials, those born between 1981 and 1987, is moving to a city with “burgeoning tech companies that create good career opportunities.”
Citing Austin’s reasons for placement on the list, Austin was noted as having approximately 21.4 percent of residents between ages 25 and 34. Interestingly, it also has been ranked top in the world for internet speed. Austin did get dinged for temporarily not…
Thursday, December 21st, 2017 at 12:55pm. 629 Views
Mother Against Drunk Driving hosted its 20th annual Austin Jingle Bell 5K recently at the Domain. With thousands of participants, the event is designed to bring awareness to the issues of drunk driving, drugged driving, and underage drinking.
Regent Property Group Broker Brian Talley and Regent Co-owner Erika Talley hosted a booth at the family friendly event. Brian’s motivation for supporting the event stems from his experiences; he was rear-ended by a drunk driver while in high school and also was witness to a drunk driver receiving his ninth Driving While Intoxicated citation. Unfortunately, he says, “We have all heard of people killed from a drunk driver, and many may have a personal experience.”
The Jingle Bell 5K included a chip-timed 5K for…
Monday, December 18th, 2017 at 1:15pm. 694 Views
Austin-Area Home Sales Volume Up, Austin Volume Slows
Home sales volume in the Austin-Round Rock Metropolitan Statistical Area increased in November 2017, while home sales within the city of Austin decreased, according to the Austin Board of REALTORS® November 2017 Central Texas Housing Market Report.
Austin-Round Rock home sales increased 3.7 percent compared to November 2016, resulting in 2,196 home sales, and city of Austin home sales decreased 3.3 percent compared to November 2016, resulting in 653 home sales. Williamson County home sales increased 10.2 percent, and Hays County home sales increased 14.3 percent. Travis County home sales decreased 1.3 percent, due to Austin’s decline.
“Even with the market normalization trends we are seeing,…
Thursday, November 30th, 2017 at 3:31pm. 552 Views
Interested in a piece of Texas land? A recent slowdown in price increases indicates this may be a good time to jump into the land market. According to a report by the Real Estate Center at Texas A&M University’s Charles E. Gilliland and Tian Su, Texas land markets in the third quarter of 2017 experienced their lowest year-over-year price increases since fourth quarter 2015. While the market still experienced an increase, the Center reports the “Texas land markets seemed headed for a breather” following a rebound the previous three quarters.
The statewide gain for land market prices was at 1.78 percent year-over-year. This “muted” price increase, compared to the levels of 2013 to 2015, was the result of 5,766 total land transactions, an active total…
Friday, November 17th, 2017 at 4:43pm. 750 Views
2017 on pace to be another record-breaking year
The real estate market for the Austin-Round Rock Metropolitan Statistical Area is poised for another record-breaking year in 2017, following an increase in home sales in October 2017. According to the Austin Board of REALTORS® Central Texas Housing Market Report, Austin-area single family home sales in October increased 2.2 percent over 2016 to 2,292 home sales.
Fueling this increase were county sales, with Travis County increasing 1.4 percent to 1,124 home sales, Williamson County increasing 5.4 percent to 794 home sales, and Hays County increasing 6.2 percent to 274 home sales. The city of Austin experienced a decline in home sales compared to last year, with a decrease of 1.7 percent to 699 home…
Wednesday, November 15th, 2017 at 5:34pm. 638 Views
Even after Hurricane Harvey in August 2017, which resulted in 71,000 uninhabitable homes, the Texas housing market experienced a rebound in September 2017, according to the Real Estate Center at Texas A&M University. The Houston market represents 25 percent of the Texas housing market, and with uninhabitable homes plus 270,000 damaged homes in the Gulf Coast metropolitan statistical areas, additional pressure has been placed on inventory as people search for new places to live. Houston sales postponed from late August to September also were a driving force in increasing Texas home sales 2.6 percent.
Sales did decline in many areas when compared to 2016’s record-breaking sales. Austin experienced a 4.5 percent decline in home sales, and Dallas…