Austin Market Update

Homes sales jump 23.9% in January 

Impact from winter storms likely to increase housing demand 

AUSTIN, Texas - Austin-Round Rock MSA home sales jumped 23.9% to 2,523 sales in January, according to the latest Central Texas Housing Market Report by the Austin Board of REALTORS® (ABoR).  

“The last week has shown us, once again, that our homes are more important than ever,” Susan Horton, 2021 ABoR president, said....

The Greater Austin area’s housing market is continuing to bounce back, according to the Austin Board of REALTORS® (ABoR) latest Central Texas Housing Market Report. Compared to July 2019, residential sales in the five-county area increased 21.5% while sales dollar volume increased 36.7%. At the same time, the median sales price increased 10.7% to $353,000 and homes spent three fewer days on the market—an average of 44 days. “The jobs pipeline into Austin continues to create new economic opportunities and a double-digit percentage gain in new listings in July, coupled with buyers continuing to take advantage of historically low interest rates, allows us to be cautiously optimistic about the remainder of 2020,” said Romeo Manzanilla, 2020 ABoR President. 

October 2019 was a record breaker for the Austin area according to  the Austin Board of REALTORS® latest Central Texas Housing Market Report. The report shows that an average of 100 people per day move to our area which has resulted in continued  double-digit percent increase in home sales.  The median price of a single-family home in Austin area rose 7.4% in October to $327,500 and home sales increased 16.8% while both active listings and inventory decreased year over year. To get a full overview of what’s going on in your area, contact us today for a free market evaluation....

IF YOUR MORTGAGE WAS ORIGINATED IN 2018, THEN IT MIGHT BE TIME TO CONSIDER A REFINANCE. 

According to new data, 80% of mortgages from last year carry an interest rate at least 0.75% higher than today’s prevailing rate (3.49%, according to Freddie Mac).

But 2018-borrowers aren’t the only homeowners who could benefit from today’s low-rate environment. Data from property analytics firm Black Knight shows that pre-2004 mortgagees could also save big. Nearly all of this cohort could shave 1.75% off their interest rate or more with a refinance.

In total, Black Knight says more than half of American homeowners with a mortgage have...

Thank you for sending us your questions. Today, we’ll answer Rebecca, who asked, “Have lake property values accelerated now that Lake Travis is full?” 

Lake Travis dropped to its lowest point in 2011 thanks to the drought. In May of 2015,...