Luxe Austin Homes - active listings

"Buyers continue to hold out as rates stay put"

Real Estate News writes, "After a steady three-week decline, mortgage rates barely budged this week — and home sales have grounded to a halt as buyers wait to see what the Federal Reserve will do.

The 30-year fixed-rate mortgage averaged 6.78% this week, nearly unchanged from last week's 6.77% average, according to the latest Freddie Mac survey. The 15-year fixed-rate was also up slightly, to 6.07%.

Rates appear to be in a bit of a holding pattern ahead of next week's Federal Reserve meeting. The agency is not expected to cut interest rates at the July meeting but will likely signal whether cuts are coming soon.

Investors and analysts are expecting a September rate cut, but there's still a possibility that the Fed could disappoint and send…

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"Austin-area housing inventory edges higher in June with potential price relief on horizon"

Austin Business Journal shares, "Housing stock in the Austin area continues to edge higher, reaching healthier levels not seen in the metro in over a decade — and it's possible lower prices are on the horizon.

The Austin-Round Rock metro's housing inventory reached five months in June — the highest it's been since 2011, according to the latest Austin Board of Realtors and Unlock MLS market report. That's closer to the six months of inventory that housing experts say typically represents a healthy balance between supply and demand, and it's up from a level of 3.7 months of inventory in June 2023.

But what does an increase in inventory mean? According to Clare Knapp, an Unlock MLS and ABOR housing economist, buyers and sellers could expect to see…

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"Active Austin home listings keep rising in emerging 2024 trend, says report"

CultureMap Austin reports, "The latest real estate report from Unlock MLS and the Austin Board of Realtors (ABoR) has revealed that June saw a significant increase in the number of active home listings in the Austin metro area — continuing on a three-month high that began in April — and median sale prices are dropping to accommodate the rise in inventory.

New in the June report, Unlock MLS refers to the Central Texas region as the Austin-Round Rock-San Marcos metropolitan statistical area (MSA), whereas it was previously identified as the Austin-Round Rock-Georgetown MSA.

The data shows there was a 13.4 percent drop in home sales across the Austin-Round Rock-San Marcos MSA, with only 2,732 homes sold in June for a median price of $450,000. There…

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"Is it a buyer's or seller's market? Neither — but it's moving toward buyers finally"

Austin Business Journal shares, "The Austin-area housing market has reached a stalemate between buyers and sellers — and that's allowing much-needed inventory to catch up and prices to hold steady.

A few years ago it was common for some parts of Central Texas to have a week or two of housing stock. Home inventory in May was clocked at 4.9 months — 1.5 months more than a year ago. It's a level of inventory that hasn’t been seen in 13 years, according to the Unlock MLS report on the Austin Board of Realtors website. Housing experts often say six months of inventory is representative of a healthy market.

“The good news is that we are moving toward a more sustainable level of inventory, which will provide price stability for sellers and more choices for…

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"New real estate report shows big spike in active Austin home listings"

CultureMap Austin writes, "Potential homebuyers on the prowl for a house in the Austin-Round Rock-Georgetown area have a lot more inventory to choose from than usual. Active listings rose to over 12,000 residential properties in May, according to the latest real estate report from Unlock MLS and the Austin Board of Realtors (ABoR).

The spike in active listings is a 37.7 percent year-over-year increase from May 2023, the report said, with more than 5,200 new home listings added last month in a 16.3 percent increase from this time last year. Median prices for homes in the Austin-Round Rock-Georgetown MSA dipped to $459,450 in May after they reached nearly $470,000 in April.

This glut of available housing allows buyers a greater level of…

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"Parts of North Austin area see 30%-40% increase in number of homes sold in March"

Community Impact shares, "Three of five ZIP codes in the North-Northwest Austin market experienced double-digit percent change increases in the number of homes sold year over year in March, according to data from the Austin Board of Realtors.

The details

The 78759 ZIP code netted more home sales than other North Austin-area ZIP codes and experienced the greatest year-over-year growth in March.

Home sale prices varied in March, with some areas experiencing declines in home prices while others, such as ZIP code 78727, saw an almost 15% increase.

The 78729 ZIP code saw an almost 50% decrease in the average days spent on the market, while ZIP code 78758 saw a 14.3% increase.

The majority of homes sold in the area in March were between…

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"Austin's housing market is off to a strong start in 2024, says report"

Culturemap Austin shares, "homebuyers and sellers are starting to feel optimistic about the Austin-area housing market, according to a new report by the Austin Board of Realtors.

According to the latest analysis by Unlock MLS, which provides real estate data across the Austin-Round Rock-Georgetown metropolitan statistical area (MSA), bothpending and closed sales increased slightly in January compared to the previous year. 1,667 homes were sold last month, up 4.3 percent; There were also 2,480 pending sales, up 3.8 percent.

Median prices in the MSA dipped slightly year-over-year to $430,000. Unlock MLS and ABoR housing economist Clare Losey, Ph.D., shared that the recent decline in mortgage rates has allowed for lower home prices heading into…

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"July data shows high interest rates not slowing Austin metro housing market"

Community Impact Austin reports, "while homes in cities across the Austin-Round Rock metropolitan statistical area have been hit with high interest rates in recent months, data from the Austin Board of Realtors shows that the market is continuing to stabilize.

According to July ABoR data for the metro, closed listings increased 0.6% year over year to 2,815 sales. Homes spent an average of 59 days on the market—37 more days compared to last year—and the number of new listings on the market also fell, but active listings and overall home inventory increased. Additionally, median home prices across the metro is down 10% for an average of $462,000.

The breakdown

In Travis County, year over year:

• There were 5.5% more sales, 15.8% more active listings…

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"Austin housing market improved over the first 6 months of 2023, despite economic challenges"

CultureMap Austin reports, "despite economic struggles, lack of housing availability, and affordability woes making up a majority of concerns with the Austin-Round Rock housing market, overall trends have improved through the first half of 2023. The latest Austin Board of Realtors (ABoR) report details a need for more inventory to address rapid population growth.

"Despite a slight uptick in mortgage rates in June, the median sales price rose a modest 2.7 percent from May," said ABoR's housing economist Dr. Clare Losey. "Overall, the moderation in home prices throughout the region over the past year has eased the affordability constraint posed by higher rates, but more work needs to be done across the region and into the future to fully address this…

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