Realtor.com shares, "just minutes from downtown Austin, TX, sits a beautiful oasis of 3 lush acres. It’s anchored by a 3,272-square-foot home.

The serene, parklike property is available for $9.5 million.

“As soon as you go through the gates, city life is gone. It truly feels like a respite from the city. All you hear when you’re there are birds tweeting and the two owls that live in the trees hooting. You’re truly surrounded by nature. You’re in the wilderness,” says listing agent Wendi Slaton Anderson, with Compass.

“The house is lovely, but it is the land and the lot around it that is exceptional,” adds Slaton Anderson.

‘Very livable’

“The home is really well-maintained, and they’ve done such a great job of bringing the outdoors…

160 Views, 0 Comments

Kilroy Realty has paused construction of Stadium Tower — the site filled with water in the foreground — but there are still plenty of intriguing developments that could rise in North Austin in the coming years. ARNOLD WELLS / ABJ

Austin Business Journal writes, "of all the great parts of this great city, I’m going to say North Austin is in the middle of it all — literally and figuratively.

Take a look at our metro on a map. It’s top heavy — always has been. The bulk of the action is far north of the river and downtown, and every indicator we have says it will continue to be that way in our lifetimes. The Domain area, aka Austin’s second downtown, is the geographic center of the developed Austin metro area, thanks to Williamson County’s housing boom. Downtown Austin is actually on the southern end of our built-out metro.

A new center of gravity

Some experts have told me that The Domain area could eventually eclipse downtown Austin in size, weight and height. That…

153 Views, 0 Comments

Housing markets that were white-hot during the early days of the pandemic have seen the biggest declines. IMAGE SOURCE / GETTY IMAGES

Austin Business Journal reports, "the spring 2023 housing market is off to a different start than its 2021 and 2022 counterparts but several factors are converging to make it not quite a typical pre-pandemic market, either.

Total existing-home sales fell 2.4% from February to a seasonally adjusted annual rate of 4.44 million in March, the National Association of Realtors said in a report last week. Year-over-year, sales activity fell 22%.

But while demand for housing has slowed in the wake of mortgage-rate increases that began late spring last year, inventory remains constrained, thanks to a persistent housing shortage and fewer people putting their homes on the market after locking in a low interest rate during the pandemic.

"The housing…

161 Views, 0 Comments

Realtor.com writes, "a lack of inventory has pushed U.S. home buyers to purchase new homes, prompting a surge in sales in March.

The strength in new home sales was also driven by a massive jump in sales in the Northeast. And overall, new home sales are trending higher as buyers have a low number of options with previously owned homes.

U.S. new home sales rose 9.6% to an annual rate of 683,000 in March, from a revised 623,000 in the prior month, the Commerce Department reported Tuesday. That’s at the highest level since last year.

The number is seasonally adjusted, and refers to how many homes would be built over an entire year if builders continue at the same pace every month.

The jump was better than what economists on Wall Street…

159 Views, 0 Comments

Homes in Hays County have seen an increase in value compared to 2022. (Melissa Johnson/Community Impact)

Community Impact reports, "the Hays Central Appraisal District released its preliminary appraised property values April 13 and began mailing out appraisal notices to Hays County residences April 18. The overall market value within Hays County increased by 24%, or $13.54 billion, from 2022.

The preliminary data indicates a 16.11% increase in residential market value across Hays County, or an estimated $111,000 increase from 2022.

The county also saw a 31% increase in the value of commercial and industrial properties from last year; multifamily residential saw a 28% increase compared to 2022.

More than 5,200 new homes were added to Hays County's appraisal roll for 2023, according to the report, as well as 26 new commercial buildings. There was an overall…

154 Views, 0 Comments

"The market is moving at a much healthier pace than it has in years," said 2023 ABoR president Ashley Jackson. Photo by Chase Yi on Unsplash

CultureMap Austin writes, "in what looks like signs of normalizing for both homebuyers and sellers, the Austin-Round Rock metro area now has three months’ worth of housing inventory with active listings soaring to over 8,000.

The latest housing market report from the Austin Board of Realtors (ABoR) stated nearly 4,400 homes hit the market in March, which is a 6.6 percent year-over-year increase from last year. While pending and completed home sales in Austin decreased by about 19 and 25 percent, respectively, there was a spike in both new and active listings.

2023 ABoR president Ashley Jackson said in a press release that the past quarter has “ushered in a sweet spot for both buyers and sellers” exploring the current market.

“There are three…

163 Views, 0 Comments

Roughly 14,000 homes could rise on what is now a hunting ranch about 30 miles outside Austin — plus restaurants, offices, schools and much more. GOOGLE MAPS SCREEN CAPTURE

Austin Business Journal writes, "when asked why his company was interested in building in Central Texas, DMB Development LLC CEO Brent Herrington rattled off a long list of reasons.

"Beyond the economic opportunity, we love that Central Texas is a place people feel drawn to for lifestyle reasons, a place people choose rather than settle for," Herrington said in an April 18 email. "I grew up in Texas and have a real appreciation for the unique, quirky culture of the greater Austin area. I love the natural beauty, the dynamic blend of people and cultures, the creative vibe, the live music scene, and, of course, the food."

That helps explain why his Arizona-based development firm aims to transform more than 7,000 acres near Jarrell, north of Austin…

178 Views, 0 Comments

TheRealDeal reports, "Austin’s ultra luxury market has burst onto the scene in recent years, nipping at the heels of the Dallas-Fort Worth region, which has the top luxury market in Texas.

Five homes listed at $10 million or more sold in Austin last year, totalling almost $56 million, and 11 sold in DFW for a combined $146 million, according to a report from Compass. 

Super high-end homes sales in DFW are nothing new, but it’s become a revelation in Austin, where residential sales of $10 million or higher were nearly unheard of several years ago. In 2019 and 2020, no such sales were on record. In 2022, the market exploded, however, resulting in four transactions above the $10 million threshold.

“While a $6 million sale was noteworthy in 2019,…

159 Views, 0 Comments

Plans for Gateway Village call for 307 single-family homes on 97.4 acres. SCREENSHOT OF CITY OF DRIPPINGS SPRINGS DOCUMENTS

Austin Business Journal reports, "Dripping Springs City Council will this week consider annexing and rezoning nearly 100 acres, clearing the way for hundreds of homes to rise in the fast-growing city west of Austin.

The property in question is a 97.4-acre slice of land located along U.S. Route 290 just east of Dripping Springs, according to the meeting agenda. If the annexation goes ahead and the land is rezoned as a planned development district, the project, known as Gateway Village, could have 307 single-family homes with lot widths of 50 to 60 feet. Plans also call for 7.2 acres of commercial land and 22.36 acres of open space.

The landowner is Cannon Family Ranch Partnership Ltd., which has owned the property since December 1999, according…

152 Views, 0 Comments

Four Seasons Private Residences Lake Austin is tucked into 145 acres along Lake Austin.

Austin Business Journal writes, "the Four Seasons Private Residences Lake Austin is still a few years away from completion on Bridge Point Parkway near the Pennybacker Bridge.

In the meantime, prospective buyers can experience the luxury residential development's homes and amenities through virtual reality, an example of how new technology is changing the marketing of real estate.

Site work began Feb. 8 on the project but, by donning a pair of VR goggles, one can already walk around the 145-acre Lake Austin property's sprawling homes and more than 100,000 square feet of amenities.

Jonathan Coon — partner at Austin Capital Partners, which is co-developing the project with Four Seasons Hotel and Resorts and Hines — believes the use of VR to…

163 Views, 0 Comments