Luxe Austin Homes - austin

That Austin housing bust? Not likely.

Texas’ capital city saw an increase in homes for sale in May, with dollar volume increasing while the median price held steady.

The Austin-Round Rock area had enough inventory on the market to last 1.2 months, according to the monthly Central Texas Housing Market Report by the Austin Board of Realtors. The median sales price remained at the record-setting $550,000 it hit in April, a 19 percent increase over April 2021.

Active listings were way up — 146 percent higher than last year, to 4,173 — and new listings increased 18.8 percent over last year, to 5,231.

Area residential sales were on the downslide, declining 7 percent year over year to 3,633, but sales dollar volume for the month was $2.4 billion — 9 percent higher than in May 2021.…

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A&M Economist: Austin's real estate market 'beginning to normalize'

Active listings in Austin swelled by nearly 150% May 2021-2022 as the region begins to recover from the "dangerously low" housing inventory of the pandemic housing frenzy, according to the latest Austin Board of Realtors report.

For the first time since September 2020, the metro saw 1.2 months of available inventory, up from a critically low 0.4 months in early 2020. Still, median home prices continued their ascent and increased almost 20% year-over-year to tie April's record of $550,000.

While Austin's housing market has seen some signs of decline—residential home sales declined 6.7% year-over-year—available homes still spent 15 days on the market, a day less than May 2021. Texas A&M University research economist Adam Perdue said that while a…

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Austin near top of the heap for equity-rich metros

Rising home prices have made Austin one of the most equity-rich markets in the nation, according to a recent report. 

Of the 107 U.S. metros with populations greater than 500,000, Austin ranked No. 2 for equity-rich properties, according to Attom Data Solution's first-quarter 2022 U.S. Home Equity & Underwater Report. For Attom, equity rich means that the combined estimated amount of loan balances secured by a property was no more than 50% of the home’s estimated market value.

"Homeowners continue to benefit from rising home prices," stated Rick Sharga, executive vice president of market intelligence for Attom. "Record levels of home equity provide financial security for millions of families, and minimize the chance of another housing market…

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The Fed raises rates by 0.75%: Its inflation battle continues

The Fed raises rates by 0.75% and improves its inflation-fighting credibility

As expected, the Federal Reserve today raised rates by 0.75%, its largest increase in 28 years, bringing the federal funds rate to around 1.50%. Of note, Fed Chair Jerome Powell highlighted in his comments that the FOMC's primary focus currently is on bringing down inflation in a "clear and convincing" manner over the next few months.

The markets welcomed this rate hike as a signal of credibility in the Fed's inflation-fighting mandate and a step in the right direction toward bringing interest rates back to more neutral territory. The S&P 500 headed higher by over 1.0% on the back of this move, while the tech-heavy Nasdaq was higher by over 2.0%. Chair Powell did note…

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Downtown Austin’s population popped 79 percent from 2010 to 2020, report says

A new report demonstrates that downtown Austin isn’t just for workers, tourists, partiers, and diners anymore.

The population of downtown Austin has surged from 4,222 in 1990 and 7,635 in 2010 to 13,648 in 2020, according to the report, released by the Downtown Austin Alliance. That translates into a 223 percent population spike between 1990 and 2020 and a 79 percent jump from 2010 to 2020.

Today, the population of downtown Austin roughly equates to the population of Manor, a Travis County suburb.

To accommodate the escalating population of downtown Austin, real estate developers have bulked up the housing supply there.

In 1990, just 948 housing units were located downtown, according to the report. That number grew to 5,670 in 2010 and…

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​For Sale: 5 Austin homes with spectacular heat-beating swimming pools

Temperatures in Austin are projected to reach triple digits nearly every day this week, so strap in for a sweaty summer.

But it doesn't have to be miserable if you have a pool to beat the heat. These homes on the market offer a private oasis much-needed this time of year.

2302 Lancaster Dr. | $799,000

Newly-renovated and back on the market, this 1975 build has been fitted with updated finishes while retaining its retro charm. An open floor plan and high ceilings allow for tons of natural light, the kitchen is complete with all-new fixtures, a focal-point fireplace for the winter months, and a round backyard pool and patio combo for the stifling heat.

4 bedroom, 2 bathroom | 1,844 square feet

6708 Mitra Dr. | $1,395,000

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Real estate company with Bee Cave office debuts on Fortune 500

Real estate company Compass debuted on the Fortune 500 alongside companies such as Apple, American Express and others in May. The business has 67 markets, over 300 offices and over 25,000 agents who assist in home buying and selling nationwide, including The Grossman & Jones Group in Bee Cave, which is recognized as the No. 1 team at Compass Austin, according to a press release. Compass launched in 2012 and provides personalized attention throughout the buying and selling process as well as continuing support after the transactions, according to the business. It is located at 12117 Bee Caves Road, Bldg. 3, Ste. 180, Bee Cave. 512-470-3173. www.compass.com/agents/grossman-jones-group

Source: Community Impact Newspaper

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The Fastest-Growing Cities Are in Just 2 States. Can You Guess Which Ones?

The nation’s fastest-growing cities are more like popular suburbs located just outside of the hottest real estate markets. And they are all clustered in just two states: Texas and Arizona.

During the height of the COVID-19 pandemic, smaller cities just beyond the city limits of Austin, TX, and Phoenix, AZ, grew at the fastest clip in the country from July 2020 through July 2021, according to a recent U.S. Census Bureau report. (The report looked at cities with at least 50,000 residents.)

“Movers are taking advantage [of their newfound ability to work remotely], and we’re seeing more people relocate to the South and West,” says Realtor.com® Chief Economist Danielle Hale. “As a result of the popularity, these areas have seen an influx of people,…

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Four Seasons Private Residences On Lake Austin Steps Up Luxury Living In Texas... Literally

A new luxury development will uplift residential real estate to a new dimension at Lake Austin. Luxury housing the levels of which have not been seen before in Texas, or much of the southwest, has a new grab: a two-minute Funicular descent to The Marina and The Lake Clubhouse at The Four Seasons Private Residences will present a panoramic experience inside one of two air-conditioned, glass enclosed cabins, lifting residents down to water activities, or back up to their multi-million dollar homes. The Funicular takes elevated Hill Country living to an extreme convenience, granting access to shoreline so pristine it is not even accessible by car.

The Four Seasons Private Residences is also the luxury brand’s first residences anywhere with…

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Realtor report: Austin area sees gain in housing inventory in April

April home sales in the Austin area decreased for the second month in a row, according to a new report from the Austin Board of Realtors.

The April 2022 showed across a five-county area, home sales declined 6.2% year over year to 3,280 closed sales as the median price rose 19.6% to a new record of $550,000.

Active listings jumped 52.5% year over year to 2,763, causing housing inventory to increase by 0.3 months for a total of 0.8 months of inventory, marking the biggest gain in housing inventory year over year since the summer of 2017.

“We are far from a healthy number of homes for sale in our market, so any increase in housing stock, no matter how small, is a welcome sign for people looking to buy. Our area continues to really be influenced…

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