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Austin Real Estate News

April ABoR Stats are Out!

The April 2022 Austin Board of Realtors Stats are out. The median sales price was up 19% year over year to $550,000 in April. Active listings increased 52% to 2,763.  New & Pending listings are down slightly. Homes spent an average of 18 days on. the market, indicating that as new homes are listed, they are quickly going under contract.  

“The ups and downs we are seeing in our market are normal, and somewhat expected considering the fast pace at which our market has moved over the past two years. If you want to begin building equity through homeownership, or if there is a specific area you want to live in, the time to plant your flag...

Texas Named Top U.S. Market for Land Sales



Texas is known for "wide-open spaces" and in 2021 it took the lead of all of the states for land sales! 

An article on Austin Culture Map said, "According to a new report from the National Association of Realtors and the Realtors Land Institute, the five states with the largest shares of land sales in 2021 were Texas (14.6 percent), Florida (12.8 percent), California (6.2 percent), Georgia (5.3 percent), and Arizona (5.2 percent).






“Given the challenges of the past two years, many of our buyers are looking for more than just a second home — they want the sense of freedom and a deeper connection with...

What is going on with property taxes?



If you recently received your property appraisal and you immediately thought to yourself, this is crazy! You’re not alone. Many Texans have received eye-popping estimates of their homes’ appraised values. Residential appraisals are up 15 to 30 percent in Harris County, 20 percent in Tarrant County, 24 percent in Dallas County, 25 percent in Bexar County, and 53 percent in Travis County, and the list goes on. 


Many factors could alter your property tax bill before it comes due in the fall

Click here to read more!

 

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Property Tax Protest & Homestead Exemption


It's officially springtime, which means most Texas residents need to hire a protest company or protest! The deadline is mid-May, so you want to act soon!

If you have property tax questions - we recommend our friends at Five Stone Advisors.If your home is your primary home, look at applying for the homestead exemption with Austin Title. See below for more info!

Click here for more info about Five Stone Advisors: https://www.fivestonetax.com/property-tax/residential/...

March 2022 Stats



The March 2022 Austin Board of Realtors Stats are out. The median sales price was up 22% year over year to $521,000 in March. New listings actually decreased 1% to 4,150.  Pending listings are also down slightly. The biggest increase was active listings which went up 46% to 1,731. Homes spent an average of 21 days on the market which is down compared to this time last year indicating that as new homes are listed, they are quickly going under contract.  

The Austin-Round Rock MSA experienced a decline in residential home sales, while a slight increase in housing inventory coincided with a new all-time record for the median sales price, according to the Austin Board of REALTORS® March 2022 Central Texas Housing Report.

“Rising home prices along with nationwide inflation and rising interest rates can seed caution in the market, so it’s important...

New housing developer launches with more than 1,000 units already planned


Heartwood Real Estate Group is a brand new firm but they already have multiple projects in the works according to Austin Business Journal. They have at least 1,000 units and 2 developments planned.

The first development includes townhomes off of South Congress called "The Reyna". It will be 1.5 acres and 16 homes. Each unit will range from about 1,000 square feet to more than 2,000 and prices will go in between $600,000 to $1 million and up. This project is expected to finish in 2023.

The second development that Heartwood is working on is in East Austin. This will be a 344-unit community that is reserved for residents earning less than 60% of the median family income level ($98,000 in the Austin metro in 2021 for a family of four) "These units will take part of the City of Austin's Affordability Unlocked program which incentivizes the creation of affordable housing and speeds up the permitting process." (KVUE)

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The Bowen

This 19-story luxury residential tower recently opened its doors, introducing a new standard of living to The Domain South End. Residents choose from thoughtful floorplans ranging from one, two, or three-bedrooms, including expansive penthouse suites with views.  

High-design features are standard at The Bowen. Each residential unit features top-performing appliances and quartz countertops throughout. Community amenities include a resort-style pool with private cabanas and poolside pavilion, indoor co-working spaces with bar + lounge, club-quality fitness center, private dining room for entertaining and more.  

The location puts The Bowen residents just minutes...

February 2022 Market Stats

The February 2022 Austin Board of Realtors Stats are out and inventory remains very scarce. The median sales price was up 27% year over year to $499,000 in February. New listings actually increased 10% to just over 2,800.  Pending listings are also up. The biggest drop was active listings which decreased 4% to 1,200. Homes spent an average of 28 days on the market which is down compared to this time last year indicating that as new homes are listed, they are quickly going under contract.  

“February was a very active month for our housing market as sales price records continue to be broken,” Cord Shiflet, 2022 ABoR president, said. “We’re hearing from economists that last month’s numbers are a potential harbinger of a big year ahead even as our market continues to deal with insufficient supply compared to demand resulting in the steady cycle of home price...

3 Reasons Why Austin Is a Homebuyer's Dream in 2022

3 Reasons Why Austin Is a Homebuyer's Dream in 2022

1. It's still a relatively good deal
2. A growing market can sustain a long-term investment
3. People want to live here for lifestyle reasons too

"Austin, Texas, fell from the No. 1 spot in 2021 to a predicted No. 10 in 2022 on Zillow's list of hottest housing markets in America. Tampa, Florida, has assumed the top spot, but Austin is still a very robust market.

The capital region of the Lone Star State has seen explosive population growth, the most of any large metro area in the United States from 2010-2020, according to the U.S. Census, swelling by a third in 10 years to nearly 1 million in the city itself and about 2.3 million in the metro area."

Big business is a big reason for the explosive growth, of course. ...

New Development Planned for East Austin 

As we all know, East Austin is growing extremely fast. Soon there will be a new development featuring apartments, coworking space, a grocery store, and even a café! 

Lincoln Ventures is developing the six-story project at 2700 E. Fifth St. The name of the development is not yet decided. There will be a total of 625 apartments, row houses, and live/work units. 

Additional amenities include two outdoor pools, a gym, a spin studio, a yoga room, a pet spa, a dog run, and a catering kitchen.

Click HERE for more information about the upcoming development.

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Four Seasons Private Residences - Lake Austin

     fourseasons.com

Described as the definition of luxury modern living, The Four Seasons Private Residences Lake Austin may just be the most luxurious combination of lifestyle and living that Austin, TX has ever seen. Meticulously placed in open green space, this 145 acre property features unparalleled Lake Austin views, over 3,000 feet of shoreline and sights ranging from 280-380 feet above the lake waters. Offering world-class property management, top-tier privacy and security, its residents will be able to relax, work and play in their very own luxury oasis all while just 20 minutes from downtown Austin. Said to start construction in 2023, the property includes floorplans for condominium- homes, penthouses and villas ranging from 2,500-10,000+ square feet with prices starting at $4,085,000. Think of these homes...

January 2022 Market Stats


The January 2022 Austin Board of Realtors Stats are out and inventory, or lack there of, continues to be the name of the game. The median sales price was up 30% year over year to $476,000 in January while closed sales decreased by 5% to just about 2,300.  The biggest drop were in new listings which decreased 10% to 2,950. Active listings are also slightly down. Homes spent an average of 28 days on the market which is down compared to this time last year indicating that as new homes are listed, they are quickly going under contract. 

Coming off two consecutive record years for the MSA’s housing market, ABoR President Cord Shiflet added that morale among REALTORS® continues to trend upwards, with many feeling enthusiastic about the future.

“REALTORS® are optimistic about what this year could bring and looking forward to what will hopefully be a year filled with opportunity for homebuyers, sellers and developers alike. Working with a REALTOR® that understands the complexities...

New $500 Million Master-Planned Community in Southeast Austin



              houstoncronicle.com

Have you heard about the new master-planned community coming soon to South Austin? Mirador is a new development that will encompass thousands of homes over 1,400 acres of land. This $500 million project will be near Austin-Bergstrom International Airport and close to Pearce and Wolf lanes. Mirador will be just minutes from the new Tesla factory and the Circuit of the Americas. The Houston-based real estate company Hines has partnered with Trez Capital, Caravel Ventures, and Sumitomo Forestry to develop this community. Homebuilders for the project are Gehan, Lennar, David Weekley, Highland, and MHI.

Construction on the homes will begin this year. There will be 2,500 single-family homes; 1,500 apartments,...

December 2021 Market Stats are out!

With December now in the rear view, the 2021 housing report is ready to review! Records have been set! Total units sold was at a record number of over 41,000 units (up 2.5%). Median home price was at a record of $450,000 (up 30.8%). New listings was at a record of over 46,000 (up 5.9%) and average days on market was down to 20 days, 55.6% less than 2020.


“In 2021, the record number of homes sold were demand-driven transactions and that demand was influenced greatly by companies continuing to target the region for job creation and expansion. Even though more homes are being built, listed and sold than ever before, our region is still nowhere close to having a comfortable amount of
supply to meet the demand, which is why home prices continue to rise steadily.” - Mark Sprague, Independence Title Dir. of Information Capital.



...

November 2021 Stats are out!



The November 2021 ABoR Stats are out! The median sales price was $470,000 last month. Closed sales are down 4% compared to last November. More homes are also being listed across the MSA, as new listings increased 6% to 2,950 listings in November. Active listings are slightly down. Homes spent an average of 22 days on the market which is down compared to November 2020 indicating that as new homes are listed, they are quickly going under contract. 




“We have all seen the headlines about our housing market and the Austin Board of REALTORS® knows that it is competitive, however, when you dig a little deeper, you can see that there is plenty of opportunity and our market is still readily accessible for homebuyers across all price levels,” Susan Horton, 2021 ABoR president, said....

September ABoR Stats are out!

The September 2021 ABoR Stats are out! The median sales price was $450,000 last month. Closed sales are down 5% compared to last September. More homes are also being listed across the MSA, as new listings increased 16% to 4,136 listings in September. Active listings actually remained about the same. Homes spent an average of 17 days on the market which is down compared to September 2020 indicating that as new homes are listed, they are quickly going under contract. 

“Tesla moving its headquarters here has cemented Austin as a hub of the tech and innovation industry with the potential for limitless opportunities,” Laura Huffman, president and CEO of the Austin...

ABoR August 2021 Statistics

The August 2021 ABoR Stats are out! The median sales price was $470,000 last month. Closed sales are down 4% compared to last August. More homes are also being listed across the MSA, as new listings increased 14% to 4,409 listings in August. Active listings dropped 19% to 3,380 listings. Homes spent an average of 14 days on the market, which is down compared to August 2020 indicating that as new homes are listed, they are quickly going under contract. 

According to Mark Sprague, economist, and the state director of information capital for Independence Title, Austin’s market is exactly where it should be based on demand.

“There have been reports of Austin’s housing market being overvalued, but from an economist’s perspective, my question is, ‘overvalued compared to what?’...

July ABoR Stats are out!

The July 2021 ABoR Stats are out! The median sales price was $480,000 last month. Closed sales are down 9% compared to last July. More homes are also being listed across the MSA, as new listings increased 8% to 5,166 listings in July. Active listings dropped 36% to 3,294 listings. Homes spent an average of 12 days on the market, which is down compared to July 2020 indicating that as new homes are listed, they are quickly going under contract. 

Vaike O’Grady, regional director of MetroStudy, said that while the frenzy to buy a home in Austin has steadied from this time last year, it’s unlikely that home prices will go down any time soon.

“Austin is always considered one of the top places to live in the U.S., but we’re losing ground due to shrinking housing inventory and affordability. With construction delays and...

The Austin Housing Market Reports New Records in June 2021!

The June ABoR Stats are out! The median sales price went up to a whopping $482,364 last month. Closed sales are up 8% compared to last June. More homes are also being listed across the MSA, as new listings increased 23.8% to 5,170 listings in June 2021, while active listings dropped 56.3% to 2,265 listings. Homes spent an average of 13 days on market compared to 46 days for June 2020 indicating that as new homes are listed, they are quickly going under contract. 




“In June, and in the first six months of the year, we saw a confirmation that Austin’s housing market is one of the strongest in the nation,”...

New Records Broken in Austin Real Estate



           Year over year statistics from ABOR

The median home price of the greater Austin area has reached an all-time high for any month on record.

“Austin’s housing market has become one of the most competitive markets in the U.S.,” Susan Horton, 2021 ABoR President, said. As new companies relocate to Austin and the city’s popularity draws in new residents, the sheer demand for housing has created a critical inventory shortage... the market can seem difficult to navigate to the average consumer, because it is fast paced, and transactions are becoming increasingly complex. This is why it is so important to work with a REALTOR® who understands the market.”

The booming Austin-area housing market continues to be strong...

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