Blog Posts

Austin Market Update – February 2024

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There is always a lot of anticipation and curiosity about what the new year holds, and we look to January numbers for any hints of what to expect.  The past couple of years we got mixed signals because serious freezes shifted more activity to the spring.  Not this year, though I think interest rates are […]

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Austin Market Update – November 2023

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The Austin real estate market is following the typical seasonal pattern and continues to slow as we move toward the holiday season.  Transactions are running behind the 2022 pace, down more than 13%, with higher priced homes (750K+) down nearly 25% year-to-date.  And as you can see, 2022, particularly the 2nd half of the year, […]

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Austin Market Update – October 2023

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Rising interest rates continue to put downward pressure on Austin real estate activity.  As interest rates on 30-yr mortgages hit roughly 7.5% this week, the drop in activity continued. Transactions are also much lower, with September transactions down 24% vs. August.  A decline is normal entering the fall as things slow down, but this was […]

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Austin Market Update – September 2023

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Last month I highlighted that the number of new pending transactions in June and July, though far behind 2019-2021, did exceed 2022 numbers and perhaps indicated an improvement in market conditions.  To be clear, pendings were still declining each month after peaking in April but were not dropping at the same rate they had in […]

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Austin Market Update – August 2023

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In terms of inventory, the market is continuing to get more top-heavy, with inventory significantly increasing at price points above 2M.  Looking at combined months of inventory above $2M, there is 10 months of inventory. Median sold prices continue to track very closely with 2021.  The aggregate median sold price from June to July roughly […]

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Austin Market Update – July 2023

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We are half-way through 2023 and clearly this year has a very different feel from the last several.  A few things I have heard: Demand for move-in ready homes is higher because the cost of construction (materials, labor, etc.) has risen so much. Neither buyers nor sellers are particularly motivated, looking for opportunities but not […]

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Austin Market Update – June 2023

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May 2023 has come and gone and the numbers are in.  I have mentioned previously that based on MLS data, May 2022 recorded the highest median sold price for Austin residential real estate (single family homes): $730,000.  And May 2023?  Based on MLS data: ~635,000. It is interesting that 2023 numbers are tracking very closely […]

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