Luxe Austin Homes

The Austin Real Estate Market continues to adapt and defy the odds of working through virtual conditions. 

Local shelter-in-place orders that went into effect on March 24 had little impact on March home sales, according to the Austin Board of REALTORS® (ABoR) latest Central Texas Housing Market Report.

In March, residential sales in the five-county Metropolitan Statistical Area (MSA) increased 2.2% year over year to 3,042 sales and median price jumped 11.7% year over year to $335,200. Monthly housing inventory declined 0.7 months year over year to 1.6 months of inventory, and average days on market decreased from 65 days to 54 days.

“For most of March, it was still ‘business as usual,’ and REALTORS® adapted early to continue serving

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An upcoming 180-unit affordable housing project in Lake Travis will require action from Lake Travis ISD in order to continue construction.

The development, The Villas at Lakeway, set to be located at 2309 N. RM 620, Austin, will feature rental units for those making 60% of the Greater Austin area’s median household income.

The plat of land is located at near Lake Travis Elementary School and the educational development center site, and according to LTISD, additional sewage capacity is necessary as part of the construction process.

At an April 15 meeting, the Lake Travis ISD board of trustees reviewed a wastewater line easement agreement between the district and Travis County Water Control and Improvement District No. 17. The agreement would enable WCID

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new report shows that Texas rules the nation's corporate relocation and expansion kingdom. 

Site Selection magazine ranks theAustin, Dallas-Fort Worth, and Houston metro areas among the top 10 large U.S. metro areas for the number of corporate relocation and expansion projects landed in 2019.

On the new list, published in the magazine's March issue, Houston replaces Dallas-Fort Worth in the No. 2 spot among metros with at least 1 million residents. DFW comes in at No. 3, while Austin takes the No. 6 spot.

Last year, Houston landed 276 projects that met the magazine's ranking criteria. Dallas-Fort Worth scored 261 projects in 2019, while Austin snagged 95. With 416 projects, Chicago earned the No. 1 spot. 

Qualifying projects for the rankings

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Todd Grossman, Top ABJ Realtor in Austin, discusses the home buying and selling process amid Covid-19 with Escrow Officer Lacey Warren of Patten Title. Will these new procedures have a lasting change on how we handle real estate transactions in the future? Are your trusted real estate partners moving forward with these changes?

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Due to a series of rain events over the last month, Lake Travis has risen 3.5 feet since March 16, according to information from the Lower Colorado River Authority.

"As we get more frequent rain, the ground stays wetter between events, and more rain runs off into the Highland Lakes," said Clara Tuma, LCRA public information officer.

The lake is now about 673.4 feet above mean sea level, or msl, or about 88% full, which is about 4 feet above its historical April average, Tuma said.

"Lake Travis and Lake Buchanan, the two water supply reservoirs in the Highland Lakes, were designed to fluctuate—falling during drier times and rising during wetter times—and that’s exactly how the lakes are functioning now," she said. "Water will continue to be released from

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Shying away from completely shutting down the city’s parks and trails, Austin will instead reduce parking availability at its parks and convert its most popular trail, the Ann and Roy Butler Hike and Bike Trail along Lady Bird Lake, into a one-way trail in an effort to mitigate potential gatherings.

The move comes as much of the city remains shut down to slow the spread of the coronavirus, the highly contagious upper-respiratory illness that has halted much of daily life across the globe. The changes to the parks system will begin April 13 and be in full force by April 17, according to a press release from the Austin Parks and Recreation Department.

The city shut down all of its parks and trails over the Easter holiday weekend, a historically busy

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The Goldman Sachs Group Inc. is providing $50 million to be used for small business relief loans administered across the state by community development financial institutions.

Gov. Greg Abbott announced the partnership April 13. Money will be disbursed through the Paycheck Protection Program, or PPP, a new federal tool that small business owners can use to cover payroll and other expenses.

The CDFIs involved include San Antonio-based LiftFund, which will receive $25 million. Goldman Sachs is "actively working" to work with other banks to lend the remaining $25 million, said John Wittman, communications director for Abbott. Austin is home to a number of CDFIs, such as PeopleFund. They are private financial institutions that lend to

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Austin remains the fastest-growing big city in the country.

Austin has been the fastest-growing major metro in the country for nine straight years, from 2010 to 2019. The continued population explosion remains a major storyline for the Central Texas economy and is reshaping everything from residential real estate to finance. And it takes on extra meanings when seen in light of the COVID-19 pandemic, as Austin becomes an increasingly global city.

However, just what effect COVID-19 will have on growth is uncertain. Real estate and construction was recently deemed an essential business by Texas Governor Greg Abbott, which means home sales will not be stopping.

Our team has been crunching data from the Austin Board of Realtors® Multiple Listing

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The Grossman & Jones Group now offers private and virtual tours of homes! 

Realtors in Austin are being told they can show properties again across the metro under a new statewide coronavirus order.

After Central Texas' first shelter-in-place orders were announced March 24, the Austin Board of Realtors strongly discouraged its members from in-person showings in certain locations.

"It's our interpretation that showing activity may be allowed in Williamson County, but it's clearly not allowed in Travis County and the city of Austin," ABOR said in a March 25 update.

But now ABOR says things have changed after a March 31 executive order from Gov. Greg Abbott on the state's efforts to contain COVID-19, the disease caused by the novel

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