Luxe Austin Homes - June, 2025

"Austin nonprofit sets $10M fundraising goal to build affordable housing for creatives"

Austin Business Journal writes, "An Austin nonprofit aims to raise $10 million to develop affordable housing projects for the city’s musicians and others in its creative class.

The Chestnut Neighborhood Revitalization Corporation is launching the capital campaign for a new initiative called Pathways to Ownership, with the goal of funding three affordable housing projects throughout Austin.

The organization plans to use $7 million for land acquisition costs and the other $3 million for construction and growth efforts. If successful, the campaign will add 300 affordable units to the city — 100 per location, although details aren't finalized, said Sean Garretson, CNRC president and planning and development manager of Pegasus Planning and Development.

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"About 1,400 new homes pegged for fast-growing Lockhart"

Austin Business Journal shares, "A big development in Lockhart will add about 1,400 homes to the fast-growing city south of Austin.

Houston-based Perry Homes is already hard at work building infrastructure for its Juniper Springs neighborhood, which will total about 400 acres, said Chris Little, president of Perry Homes Central Texas. The neighborhood also will have a new elementary school that will be part of the Lockhart Independent School District, according to an announcement.

“Heavy infrastructure work [at Juniper Springs] has been underway,” with completions of lots expected this summer and model homes ready to tour in the fall, Little said.

He described Juniper Springs as a “legacy project for Perry Homes” that will be built over…

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"Second phase of sprawling Hill Country master-planned community to rise soon"

Austin Business Journal shares, "Hundreds of homes are set to rise west of Austin after a developer secured a $106 million loan for the next phase of a master-planned community.

Austin-based Masonwood Development will begin the second phase of its Provence community early next year, CEO Jim Meredith said in a statement, thanks to the loan from Canadian-based Trez Capital.

The closing of the loan enabled “us to to immediately begin the infrastructure and development of Phase II of this prized project,” Meredith said.

Masonwood collaborated with John Hutchinson and Jason Stowe at Trez Capital to secure the loan.

Provence, a 910-acre development at 16314 Hamilton Pool Road, broke ground in early 2018 and 151 homes have been built so far. But…

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"Leander annexes over 300 acres for new neighborhood"

Austin Business Journal shares, "Leander is one of the fastest-growing cities in the metro, and that growth is poised to continue.

Leander City Council annexed more than 300 acres for a new subdivision, called Oakwood Hills, in May that will add about 200 homes to the suburb northwest of Austin.

The project is being developed by 23244 Nameless Rd. LLC.

Oakwood Hills is located on 337 acres at 23244 Nameless Road on the western edge of Leander, according to council documents. The land is currently undeveloped, and developers are proposing to build single-family homes on 174 one- to two-acre lots.

Leander is one of the fastest-growing cities in the entire metro, according to the U.S. Census Bureau. Its population boomed from 59,202 in 2020…

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"Shopping for a home? Texas city scores largest influx of new listings"

MYSA writes, "In the market for a new home? What better place than right here in Central Texas.

Two Texas cities ranked among the best in the nation for the largest price slashes within their respective housing markets, marking a real estate haven for first-time homebuyers and more experienced house hunters, according to a report from Realtor.com released on Monday, June 23. Both the South and the West led the way in the biggest cost cuts, with Phoenix ranking supreme with 31.3% of its Arizona home listings featuring a price cut.

Coming in second was Tampa with a 29.9% slash in home listing costs, with Denver trailing slightly behind at a 29.4% share of listings featuring reduced prices. In fourth place, Texas made its mark with the capital city,…

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"Leander Springs project to return to City Council over next few months"

Austin Business Journal reports, "Developers behind the Leander Springs project near Austin reaffirmed their commitment to build the billion-dollar, 78-acre lagoon-centered mixed-use project despite numerous challenges — including owing millions to contractors and losing their incentives agreement.

Austin-based iLand Development Group on June 18 said it "is moving forward with confidence" despite the setbacks and has submitted amendments to its development agreement and planned unit development.

"We recognize there’s been frustration around the timeline, but it’s important the public understand the full picture," iLand CEO Andrey Derevianko said in a statement.

"We have worked diligently and in good faith to move this project forward, while…

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"More international buyers are eyeing the U.S. home market. These cities are getting the most looks."

Austin Business Journal writes, "America's housing market is showing increased interest from international buyers.

That’s according to a new report from Realtor.com, which analyzed international views of for-sale listings on the Realtor.com U.S. marketplace between January and March 2025, as compared to previous quarters.

The data showed the share of home shoppers who came from outside the U.S. grew from 1.3% in the first quarter of 2020 to 1.9% during the same time this year. It was also up from 1.7% in the fourth quarter of 2024.

Cities with the most global interest

In the first quarter of 2025, Miami was the most-popular metro market for international home shoppers, with that metro area capturing 8.7% of demand from outside the U.S.…

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"Austin-area home sales decline in May as inventory rises"

Austin Business Journal writes, "The housing market in Austin showed more signs of slowing in May, with sales dropping and inventory rising.

The number of listings came in at 5,716, equating to five months of inventory, according to the latest report from Unlock MLS. Sales numbered 3,021 in May — a 3.8% year-over-year decrease — although 4,515 sales were pending, a 16.1% year-over-year increase and the most reported so far in 2025.

The median sales price in May registered $449,000, a decline of $1,000 from April.

Clare Knapp, housing economist for Unlock MLS and the Austin Board of Realtors, said the slowing market could motivate sellers to adjust their prices to align more with what buyers can afford and are willing to pay.

“It's not that…

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"Multifamily project on tap along Colorado River in East Austin"

Austin Business Journal shares, "An East Austin lumber yard could be redeveloped into hundreds of multifamily units.

The 300-plus-unit project is planned at the former site of Eastside Lumber & Decking near the intersection of East Cesar Chavez Street and North Pleasant Valley Road.

The developer of the project, JLB Cesar Chavez, is Dallas-based JLB Partners, according to a filing with the Texas Department of Licensing and Regulation. The property owner is an entity called TRG Cesar Burleson LLC, according to Travis Central Appraisal District. The address of TRG Cesar Burleson LLC matches that of Dallas-based Trinsic Residential Group.

Neither JLB nor Trinsic — known apartment players in this market already — responded to requests for…

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"Household Real Estate Value Falls in the First Quarter of the Year"

Realtor.com writes, "In a slight setback for homeowners, $200 billion was shed from the total value of household real estate during the first months of 2025—but it remained the fourth-highest on record.  

The aggregate market value of all U.S. homes owned by those living in them retreated to $47.9 trillion during the year's first quarter, down from $48.1 trillion at the end of 2024, according to the most recent release of the Federal Reserve Z.1 Financial Accounts.

This reflects a continued pullback from the highest total of $48.8 trillion, recorded in the second quarter of 2024, according to a recent Flow of Funds analysis by Realtor.com® economists. Yet despite the downturn that has occurred across three consecutive quarters, homes gained $960…

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