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Real Estate Blog

Texas Economic Expansion Continues

Sunday, July 22nd, 2018 at 4:18pm. 784 Views

Austin downtownIncreases in energy and manufacturing activity led to a continued expansion in the Texas economy for May 2018, according to the Real Estate Center at Texas A&M University. Workers also are being drawn back into the workforce, due to low unemployment.

The Dallas Fed's Business-Cycle Index rose 5.5 percent, to its highest level since 2014. Houston was up 6.2 percent due to growth in the energy industry, and Austin also was up 6.2 percent, due to a “booming technology industry.” The Texas Leading Economic Index, which measures future changes, was up 5.7 percent in growth year over year. This was a decrease in pace, however, and caused growth in the statewide employment forecast to decrease from 3.6 percent to 3.3 percent.

The 30-year-fixed-rate for

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U.S. Home Outlook Steady in Second Quarter of 2018

Sunday, July 22nd, 2018 at 3:19pm. 802 Views

Austin housing salesSeventy-five percent of Americans believe it’s a good time to sell a house, according to recent findings from the National Association of Realtors® and released in its Housing Opportunities and Market Experience (HOME) survey. Sixty-eight percent of Americans think now is a good time to buy a house. The survey also found that most consumers think prices will continue to increase.

While these results are fairly steady from last quarter, the makeup of the results has shifted. Renters collectively have less positive feelings on buying than last quarter, with 55 percent believing it was a good time to buy in the first quarter and 49 percent believing in the second quarter that it is a good time to buy.

Buyers 65 and older have the highest percentage of

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Austin, Texas Real Estate Market Update and Statistics July 2018

Wednesday, July 18th, 2018 at 11:50am. 953 Views

June 2018 Austin-area Home Sales Slow but Still on Track for Record

Austin housing salesAustin-area home sales slowed in June 2018, with a 2.7 percent dip compared to June 2017, according to the Austin Board of REALTORS® June & Midyear 2018 Central Texas Housing Market Report. Despite this, the area “experienced strong and steady growth in the first half of this year,” according to the report.

“Despite a decline in home sales volume across Central Texas in June, 2018 is on track to be another record-setting year for the region’s housing market,” said ABOR President Steve Crorey. “Consecutive years of record-breaking sales activity have set the bar incredibly high, and it’s important to remember that we’re comparing June 2018 figures to that strong activity. The Central

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Austin luxury home sales up 25%, prices down 15% in Eanes ISD so far in 2018

Wednesday, July 4th, 2018 at 3:33pm. 855 Views

Austin luxury homeWe ran the Austin luxury home sale statistics and the results are quite interesting and noteworthy. Please note that we are defining luxury home sales as residential properties of all types (single-family, condos, townhomes, etc.) that sold for $1M or above. We are comparing Jan 1 to June 15 of 2017 compared to the same time frame in 2018 using MLS data (not including private sales). We are using the median sold prices not the average.  
  • There was a 25% increase in luxury homes sold in the greater Austin area (all the ABOR MLS) with a 3% decrease in sold price and a 3% increase in sold price per sq ft
  • 45% of those sales were in Austin ISD, 23% were in Eanes ISD, and 13% were in Lake Travis ISD
  • There was a 26% increase in the number of

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First Quarter 2018 Texas Housing: Sales Up, Prices Up

Monday, June 18th, 2018 at 9:50am. 864 Views

Austin housing salesFor the first quarter of 2018, Texas home sales and Texas home prices both increased, while inventory and active listings decreased, according to the Texas Association of REALTORS® Texas Quarterly Housing Report.

“The momentum from the end of 2017 has moved into 2018, as Texas homes continue to be in high demand,” said TAR Chairman Kaki Lybbert. “This strong activity we’ve seen in home sales volume during the first quarter of 2018 is setting the stage for a strong summer selling season for Texas real estate.”

Texas home sales for the first quarter of 2018 increased 2.2 percent compared to the first quarter of 2017, to 70,292 sales, and median price increased 5.7 percent to $224,500. Inventory dropped 0.2 months to 3.3 months, with approximately 6.5

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Texas Small Land Sales Increase

Monday, June 18th, 2018 at 9:12am. 796 Views

Texas land salesSmall land sales in Texas increased 8.5 percent to 7,588 sales in 2017, the fifth straight year for an increase, according to the Texas Association of REALTORS® Texas Small Land Sales Report. Sales total dollar volume topped $1 billion for the first time. However, the average price per acre experienced a 2.2 percent decline to $5,521 an acre.

“In recent years, small land sales have been a strong indicator of a healthy overall real estate market,” said TAR Chairman Kaki Lybbert. “With land sales increasing and price-per-acre declining slightly, we’re seeing a solid market for small land purchases for a wide range of uses, including recreation, residential, investment, commercial development and farm land.”

Small land sales in Texas typically are

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Austin, Texas Real Estate Market Update and Statistics June 2018

Friday, June 15th, 2018 at 3:10pm. 876 Views

Austin real estate statisticsAustin Housing Prices Up, Inventory Down

Historic highs and historic lows are now the norm in Austin real estate, with record-breaking median home prices and consistently low inventory levels. According to the Austin Board of REALTORS® May 2018 Central Texas Housing Market Report, the median price for an Austin home reached an all-time high of $389,000 in May 2018, an increase of 3.7 percent compared to May 2017. Inventory decreased to 2.0 months from 2.1 months, with an inventory of approximately 6.5 months considered balanced by the Real Estate Center at Texas A&M University. Sales overall rose 5.9 percent to 1,037 sales.

With the rising home prices in Austin proper, many homebuyers are looking to surrounding areas. Seven in 10 homes that were

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Outdoor Home Projects Offer Financial Returns and Owner Satisfaction

Friday, May 25th, 2018 at 10:50am. 660 Views

austin home landscape Thinking about remodeling? Homeowners should consider looking outdoors for their next upgrade, as outdoor projects can bring both financial reward and owner satisfaction, according to the National Association of Realtors®’and National Association of Landscape Professionals’ 2018 Remodeling Report: Outdoor Features.

The report looked at 13 outdoor residential projects and found that Realtors® ranked standard lawn care service as the most financially productive at resale, with a recovery rate of 267 percent of the project cost. Landscape maintenance and tree care came in second and third, with recovery rates of 100 percent. Installing an irrigation system was next most productive, at 86 percent recovery.

“Realtors® understand that a home’s first

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Austin Housing Starts Up Almost 18 Percent in First Quarter of 2018

Wednesday, May 23rd, 2018 at 11:37am. 698 Views

Austin new construction homesAustin housing starts for the first quarter of 2018 were up 17.6 percent compared to the first quarter of 2017, for a total of 4,064 housing starts, according to Metrostudy. Annual new home starts increased 4.5 percent to 16,457. Attached homes, generally more affordable than single family homes, have seen significant gains, with 353 percent growth in the last five years.

New homes also are selling more quickly, and closings have outpaced housing starts for the last two quarters. In the first quarter of 2018, there were 4,118 closings, compared to 3,108 in 2017, a 32.5 percent increase. Annual closings increased 15.1 percent, from 13,634 after the first quarter of 2017 to 15,699 after the first quarter of 2018.

Metrostudy’s Austin Regional Director

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Austin, Texas Real Estate Market Update and Statistics May 2018

Friday, May 18th, 2018 at 1:43pm. 776 Views

Austin real estate statisticsABOR report says all price ranges experiencing competition

All Austin area real estate price ranges are experiencing pressure due to limited inventory and high demand, according to the Austin Board of REALTORS® Central Texas Housing Market Report based on data from April 2018.

Pending sales in the Austin-Round Rock MSA increased 14.3 percent in April 2018 to 3,320 pending sales, while new listings were up 5.6 percent to 4,139 listings and active listings decreased 2.8 percent to 6,154 listings. Median price within the Austin-Round Rock MSA increased 3.8 percent compared to April 2017, for a median of $316,000. Inventory decreased 0.2 months to 2.4 months, well below the approximately 6.5 month supply that is believed to be balanced, according to the

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