From time to time I compare home prices along the Mopac corridor, from the lake up to 183, divided up into a few geographic areas: West of Mopac: Tarrytown – Lake Austin Blvd to 35th St, Lake Austin to Mo-Pac Highland Park West / Balcones Area – 35th to 2222, Mt. Bonnell Dr. to Mo-Pac […]
Now passed the halfway point in the year, I wanted to provide an update on how 2022 is going and compare to previous years. A few highlights from the table below: Hard to believe that in 2019, the last “normal year” by the mid-point of the year nearly 50 homes had been listed. 2022 is […]
The below graphic shows the shift in price points in Austin real estate transactions. It is a good way to see how prices are appreciating and the price ranges that are increasing or decreasing. I am comparing 2019 (the last “normal year”) to the Covid years of 2020 and 2021, and 2022 year-to-date (perhaps the […]
I am looking for leading indicators of what might be happening in the Austin market, and one approach I took this month was to look at the number of transactions that sold for less than the original asking price. I looked at May of 2022 closed sales compared with May 2021, which indicates that there […]
The Austin real estate market is still hot, hot, hot. You can see that 2022 is following the trends of 2019 and 2021 (excluding the freeze in February 2021), though the numbers are lower, primarily driven by limited inventory. Year-to-date transactions are lagging 2021 at this point, down roughly -4.5%. Lower priced homes are lagging […]
Here’s a brief Q1 re-cap… new listings in Austin lag the same time last year, down -3% overall and with homes priced under 750K down -16.2% vs. Q1 2021. Homes priced over 750K continue to grow as a share of total listings, and increased over 23% vs. Q1 2021. The overall lower number of listings […]
In March 2020, there were 197 prospective companies considering relocating to in Austin. 30 days later that dropped to 102 due to the pandemic. In March 2021 it had recovered to 203. At the beginning of 2022 the number of prospects had grown to 273. The pipeline for growth is strong! Lack of inventory is […]
It is early in the new year so not a ton of market data yet, but we do now have the full month of January and therefore can compare to the past couple for context. Overall, sales are lagging prior years, down nearly -25% vs. the same time in 2021. The sub-750K market, which has […]
“… why put a home theater room, wine storage, golf simulator, virtual reality / gaming room or man cave above ground and consume precious square footage, when those could go underground and not count against your total square footage, especially since those are rooms whose uses don’t really benefit from windows and natural lighting.”
2021 has come to a close and there is now fairly complete Austin real estate market data for the year before, the year of, and the year after the outbreak of the Covid-19 pandemic. It has been an eventful three years. There has been a steady shift toward higher price points that accelerated dramatically in […]
