Photo by: Gino Barasa
Following the addition of 17 significant buildings in 2022, downtown Austin continues its rapid expansion with 22 ongoing construction projects and an additional 34 projects in the pipeline, poised to reshape the city's skyline.
The surge of growth is not limited to commercial spaces but extends to other sectors as well. The city has ambitious plans to accommodate the increasing demand for hospitality with approximately 3,000 new hotel rooms slated for development in the coming years. Additionally, Austin aims to cater to its growing population with the construction of 11,200 residential units, offering a range of housing options to meet the diverse needs of residents.
These development endeavors reflect the city's commitment to accommodating its flourishing economy...
Photo by: Presidium Tech Ridge Pool Plans
Multifamily real estate investing firm, Presidium, recently broke ground on a new luxury community in NE Austin said to bring modern elegance and relaxation to the soon-to-be residents of Presidium Tech Ridge. The 4-story luxury apartment building will be 387,000+ square feet, perfectly situated creekside on nearly 14 acres surrounded by nature.
Presidium prides themselves on the project’s environmentally conscious construction plans and high-end amenities.
“Presidium worked diligently with the City of Austin to situate Presidium Tech Ridge along a spring-fed creek that runs through five acres of dedicated parkland with an additional quarter-acre dog park, providing residents...
Renting a property in Austin may be more difficult than purchasing a property in 2023, according to Rent Cafe
The Austin rent market looks more competitive than the home purchase market as we move into 2023.
A recent report from Rent Cafe contained a list of Texas’ top competitive markets for residents seeking rental opportunities. The study found that apartments for rent in the Austin-area had an average of 12 residents competing to lease it out, with an average of less than 30 days on market. Comparatively, El Paso hit #1 on the list with 15 residents competing per lease, follow by McAllen, and Dallas/Fort Worth.
The Texas cities were ranked based off of 5 important factors:
- Number of days the rentals were vacant
- Percentage...
The world’s largest 3D-printed neighborhood is coming to Georgetown in 2023! The new development, Wolf Ranch, will consist of 100 single-story homes that will be printed onsite using concrete material and advanced robotics, according to CNN. Lennar Homes and ICON, a Texas based company that will bring the 3D-printing background, are teaming up to complete the project. They will begin taking home reservations early next year.
The concept of 3D-printed homes and buildings have been around for decades, but steeply rose in popularity back in 2015. Homebuyers report that their top reasons for purchasing a printed home is low construction cost and reduced construction time. With lengthy builder-wait lists, this could be a solution to relieve the new housing demand in our area.
According...
The October 2022 Austin Board of Realtors stats are in! The average sales price increased 4% year over year to $474,990 in the month of October. Active listings saw an 180% increase with 9,562 available homes, but closed sales decreased 29% to 2,244 closings during this time. The median days on market was 47 days, which was a 26 day increase compared to September of 2022
October 2022 Austin - Round Rock MSA Stats
“Austin’s housing market is still growing, just at a different pace,” Cord Shiflet, 2022 ABoR president, said. “We’re entering the time of year that is historically a quieter time for home sales. With more available inventory than our area has seen in a decade and price growth stabilizing, buyers have more options today than ever before. Now is the time for homebuyers...
I hope your fall season is off to a great start. If we haven’t met, my name is Robert Madeja. I am a Realtor and I live in Liberty Hill. I feel very fortunate to call this area home! I would like to be your real estate and Liberty Hill resource. Below is a snapshot of the last 3 months of real estate sales in our neighborhood. The Austin real estate market continues to normalize and add new inventory to our market, giving buyers their power back. If you are thinking about buying, NOW is the time!
The average sales in Liberty Hill in Q3 (July-September 2022) price was $625,600. That is a 2.2% decrease compared to Q2 (April-June 2022). The median days on market was 17. There were 180 closed sales in Q3. As of October 2nd, there were 390 active listings. ...
Are you curious what is happening in the Travis Country real estate market? I'm here to help!
I hope your fall season is off to a great start. If we haven’t met, my name is Carson Haney. I am a Realtor and your neighbor here in the Travis Country area. I feel very fortunate to call this area home! I would like to be your Travis Country resource. Here is a snapshot of the last 3 months of real estate sales in our neighborhood. The Austin real estate market continues to normalize and add new inventory to our market, giving buyers their power back. If you are thinking about buying, NOW is the time!
The average sales in in Travis Country in Q3 (July-September 2022) price was $992,000. That is a 0.93% increase compared to Q2 (April-June 2022). The median days on market...
Are you curious about what the Oak Forest real estate market is looking? I'm here to help!
I hope your fall season is off to a great start. If we haven’t met, my name is Jason Pratt. I am a Realtor and your neighbor here in the Oak Forest area. I feel very fortunate to call this area home! I’m reaching out to be your Oak Forest resource. Here is a snapshot of the last 3 months of real estate sales in our neighborhood. The Austin real estate market continues to normalize and add new inventory to our market, giving buyers their power back. If you are thinking about buying, NOW is the time!
The average sales in Q3 (July-September 2022) price was $725,000 in Oak Forest. That is a 17.18% increase compared to Q2 (April-June 2022). The median days on market were...
Are you curious about what the Avery Ranch Real Estate Market looks like? I'm here to help!
I hope your fall season is off to a great start. If we haven’t met, my name is Britt Painter. I am a Realtor and a neighbor here in Avery Ranch. I feel very fortunate to call this area home! I would like to be your Avery Ranch resource. Here is a snapshot of the last 3 months of real estate sales in our neighborhood. The Austin real estate market continues to normalize and add new inventory to our market, giving buyers their power back. If you are thinking about buying, NOW is the time!
Working with a knowledgeable realtor is critical in navigating this market. If you are considering buying or selling and want insight into your options, I’m happy to give you a no-obligation...
Hello neighbor!
I hope your fall season is off to a great start. If we haven’t met, my name is Angie Faulhaber. I am a Realtor and your neighbor here in the Twin Creeks/Bella Vista/Volente Hills area. I feel very fortunate to call this area home! I want to be your Twin Creeks/Bella Vista/Volente Hills resource. Here is a snapshot of the last 3 months of real estate sales in our neighborhood. The Austin real estate market continues to normalize and add new inventory to our market, giving buyers their power back. If you are thinking about buying, NOW is the time!
Working with a knowledgeable realtor is critical in navigating this market. If you are considering buying or selling and want insight into your options, I’m happy to give you a no-obligation home valuation at no cost to...
I hope your fall season is off to a great start. If we haven’t met, my name is Chloe Wolf. I am a Realtor and I grew up here in Lakeway so I am an expert on the area. I’m reaching out today as your Lakeway resource. Here is a snapshot of the last 3 months of real estate sales in our neighborhood. The Austin real estate market continues to normalize and add new inventory to our market, giving buyers their power back. If you are thinking about buying, NOW is the time!
The average sales price in Q3 (July-September 2022) in Lakeway was $1,037,994. That is a 7.13% decrease compared to Q2 (April-June 2022). The median days on market were 17. There are 93 active listings (as of 10/2). There were 86 closed sales in Q3 2022.
Working with a knowledgeable realtor is critical in navigating...
I hope your fall season is off to a great start. If we haven’t met, my name is Hal Elrod. I am a Realtor and your neighbor here in the Crystal Falls and Grand Mesa area. I feel very fortunate to call this area home! I’m reaching out today as your Crystal Falls and Grand Mesa resource. Here is a snapshot of the last 3 months of real estate sales in our neighborhood. The Austin real estate market continues to normalize and add new inventory to our market, giving buyers their power back. If you are thinking about buying, NOW is the time!
The average sales in Q3 (July-September 2022) price was $1,143,125. That is a 1.56% increase compared to Q2 (April-June 2022). The median days on market were 15.
Diving deeper...
-Fairways at Crystal Falls has 9 active listings (as of 10/2). This neighborhood had 7 closed sales in Q3 2022.
-Highlands at Crystal Falls has 1 active listing (as of 10/2). They had 0 closed sales in Q3 2022.
-Grand Mesa has 10...
As we all know, rent for Austin area apartments have been soaring. Young adults are looking into purchasing their first homes. Right now is the perfect time to buy. It's a process that can be stressful for first-time homebuyers. Young millennials have backed off the idea of purchasing their first home since the high pandemic prices.
People are growing frustrated with paying a large amount of rent to an apartment. If you do the research though, you might be able to find paying a mortgage is a better option.
“It can hinder the potential buyer's ability to save, they’re going to be spending a higher proportion of their income on repaying that debt than a household that doesn’t otherwise have that debt," said Clare Losey with the Texas Real Estate Research Center.
“The market is slower than we have seen in a few years and there’s more inventory, more homes to choose from. So, what this means for a buyer is that they face less competition as they’re shopping...
Photo by: Four Seasons Hotels Limited
The Four Seasons Private Residences Lake Austin announced their debut plans early this year. The 145-acre property is said to break ground in February of 2023 featuring unparalleled Lake Austin views from over 3,000 feet of shoreline. The project includes floorplans for condominium homes, penthouses and free-standing villas ranging from 2,500-10,000+ square feet and reservation prices starting at $4.1 million.
Offering world-class property management and 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.
The private resort amenities include, but are not limited to:
- Pirate marina and lake clubhouse with slips for the private owner’s boat club, as...
Photo by: Kuper Sotheby's
There is a new neighborhood of six multimillion-dollar, high-end homes coming to the suburb of West Lake Hills.
The new 12-acre development, called the Wildcat Club, features six homes on 1- to 4-acre lots with prices starting at $11.75 million. One of the homes (a 9,500-square-foot residence with interiors designed by Fern Santini) already has been sold, and two of the homes are now on the market.
Most of the homes can be customized based on a buyer’s preferences. Amenities include a lounge and wine room, media room, home office, pool, spa, gym, gourmet kitchen, outdoor kitchen, and butler’s pantry. Floor plans range from 5,750 square feet to 9,500 square feet.
Austin-based Foursquare Builders...
The August 2022 Austin Board of Realtors Stats are here! The average sales price went up 5% year over year to $496,000 in the month of August. Active listings increased to a whopping 170%, causing housing inventory to jump to 2 months of inventory.
“Market shift does not mean that we are in a downturn, and it doesn’t mean that Central Texas home values have been overvalued,” Cord Shiflet, 2022 ABoR president, said. “Home prices are still appreciating, just at a more reasonable rate, that’s more in line with what we have seen historically. Homes are still selling close to list price, which is great news for buyers and healthy for our housing market. If you’ve been thinking about selling your home, it’s important to work with a REALTOR® and make sure you’re pricing your property correctly...
There have been more signs of relief for the Austin housing market. The latest monthly report from Austin Board of Realtors, released Tuesday, August 16, offers indications that the market is continuing to stabilize.
There are still new records to report, but “In every aspect of our market," says Cord Shiflet, 2022 ABoR president, in a release, "Realtors are seeing positive signs that Austin’s housing market continues to normalize.”
One of the most promising signs is an explosion of inventory in the Austin-Round Rock metro area. In July 2022, the region's housing inventory reached 2.7 months — the highest level seen since November 2018, ABOR notes, and an increase from the 2.1 months reported in...
The July 2022 Austin Board of Realtors Stats are here! The median sales price went up 8% year over year $515,000 in the month of July. Active listings increased to a whopping 167%, causing housing inventory to jump to 2.7 months of inventory - the highest level of inventory since November 2018.
“In every aspect of our market REALTORS® are seeing positive signs that Austin’s housing market continues to normalize,” Cord Shiflet, 2022 ABoR president, said. “On top of rising housing inventory, home price growth is much closer to the 4-5% annual growth that is typical for a healthy market. In addition, homes sold slightly below list price for the first time since December 2020, proving that buyers are gaining negotiating power in the market.”
If you are looking to buy, NOW is the time!
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