Grossman & Jones Real Estate Blog - central texas

"Austin's housing inventory went up and sales fell in April, per report"

CultureMap Austin shares, "Austin's homebuyers are uncovering an uncertain future for the housing market, as April sales took a nearly 14 percent dip from last year and housing inventory increased by 11.5 percent.

The latest real estate report from the Austin Board of Realtors (ABoR) and Unlock MLS said Austin's April housing data closely resembles a nationwide trend of higher mortgage rates and a decline in home sales.

New home listings in the Austin-Round Rock-San Marcos metropolitan statistical area (MSA) rose to 5,710 homes in April, adding to a total number of 13,351 active home listings. That's nearly 20 percent more from April 2024.

Only 2,484 homes in the Austin area were sold in April, and median home prices took a small 3.2 percent…

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"Plan for golden tower on West Sixth Street moves forward"

Austin Business Journal shares, "Plans for another mixed-use residential tower downtown took a step forward this week. 

The Austin Planning Commission approved the proposed 66-story tower at 701 W. Sixth St. for inclusion in the city's downtown density bonus program on May 13, which would allow for the project to double its floor area ratio from 15:1 to 30:1. 

The project could have 413 residential units and retail space, according to city documents. It's in a capitol view corridor, however, which limits how tall certain parts of it could go regardless of the density bonus program.

Property owner Kairoi Residential, a San Antonio-based developer, also is involved in building the tallest tower in Texas, called Waterline, at 98 Red River St. It…

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"Austin suburb buys downtown land as it aims to facilitate growth"

Austin Business Journal shares, "One of Austin's growing suburbs will purchase a one-acre parcel in its city center, continuing a wave of cities around the region taking control of land in their downtowns.

The Elgin City Council on May 6 unanimously gave the go-ahead to its economic development corporation to acquire a property at 403 Central Avenue, near the city's new police station. The EDC in February approved the $305,500 purchase from DLJ Holdings LLC. The property was valued for tax purposes at $153,000 in 2025, according to Bastrop County property records.

With the move, the city of Elgin — about 25 miles northeast of Austin with a population of around 12,000 — will acquire a key parcel on the fringes of the city's downtown, which is…

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"Half of Texas homeowners don't know they can protest taxes, study says"

CultureMap Austin shares, "some people might be surprised to find out that their taxes are negotiable — at least when it comes to real estate. Specifically, 53 percent of Texas homeowners don't know they can protest their home's property tax evaluation, according to a study by Ownwell, a service that makes homeowners' cases for them.

Put simply, since homeowners are taxed on the assessed market value of their home, an over-appraisal by the local tax office can lead to paying too much in taxes. Homeowners in this situation can lower what they owe by telling tax appraisers what they believe the real value of the home is, and the two entities will negotiate to find an acceptable number. Appraisals reflect the value of the home on January 1 of that tax…

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"Here's how much Austinites spend renting instead of buying a home"

CultureMap Austin writes, "The affordability of homeownership seems to be a hot topic of 2025, and the cost difference between renting and buying a home in Austin adds up to more than $1,000 per month, according to a new housing cost analysis by SmartAsset.

The 2025 report, called "Renting vs. Buying: How Housing Costs Compare Across America," examined the median monthly homeownership and rent costs in 342 of the largest U.S. cities.

The study's findings revealed Austin homeowners spend a median $2,768 on their monthly housing costs, whereas renters spend about $1,764 in comparison.

Austin ranked No. 58 in the report's rankings of cities where homeownership is more expensive than renting.

This study compares median costs for each group of…

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"Exclusive: Country's elite scoop up memberships, real estate at this Austin surf club neighborhood"

Austin Business Journal writes, "Entrepreneurs, actors, sports figures and social media influencers are paddling proverbially to the private surf-and-condominium park that's rising down the road from Austin's airport — not far from Tesla's gigafactory.

Matthew McConaughey, Drew Brees and Tony Hawk are among those tied to the coveted 400 real estate or membership slots at the Austin Surf Club, according to documents obtained by the Austin Business Journal, as well as a review of public records.

Over the last six months, the ABJ has uncovered key details about the construction of the project at the former site of NLand Surf Park. Set to rise on the site is housing, a brewery and high-end amenities centered around multiple man-made surf basins.

…

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"Developers in East Austin work to remain agile in face of shifting market conditions"

Austin Business Journal shares, "East Austin is growing fast, but that growth may not include more office space after what's springing up is done.

A variety of topics related to development in East Austin — such as plans to pivot away from office construction, the region's attractiveness to businesses and new real estate projects, and what it could look like in the coming years — were tackled during a panel discussion at the East Austin Growth Summit that included developers and one of Austin’s go-to real estate attorneys.

One major discussion point was how to remain agile and adapt in an office market experiencing high levels of vacancy.

Austin’s office vacancy clocked in at an elevated 24.5% in the first quarter, according to commercial…

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"Major homebuilder Taylor Morrison enters multifamily market in Austin metro"

Austin Business Journal shares, "One of Austin’s busiest single-family homebuilders is diving into the multifamily market in Central Texas.

Arizona-based Taylor Morrison, the fourth-busiest homebuilder in Austin last year, is bringing its multifamily brand, Yardly, to Pflugerville, according to an announcement. The new development, called Yardly Kelly Lane, will have 175 apartment-style units that are elevated a bit from traditional apartments with features like private backyards.

And while Austin’s multifamily housing market is experiencing elevated vacancy rates, Darin Rowe, Yardly president, said the company views the project as a long-term investment in a market that will eventually normalize.

Yardly Kelly Lane will be built on an 11-acre…

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"Icon to print homes in new luxury neighborhood west of Austin"

Austin Business Journal shares, "Icon Technology Inc. is bringing five of its 3D-printed homes to a new luxury resort neighborhood on the shores of the Colorado River.

The homes will be built in The Canyon Club community, a 60-acre project being built north of Spicewood at 122 Shoreline Road, according to an announcement. In addition to Icon’s homes, 20 traditionally built homes are planned for the project as well.

The Canyon Club is being developed by Prasso Ventures, which has been behind luxury neighborhoods in Arizona, Colorado and Washington.

Icon’s five homes in The Canyon Club will be 3,400 square feet.

The Icon homes will be available for fractional purchase starting in the low-$400,000 range per share. Shared ownership of the…

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"Post-pandemic effects on housing market still linger across Travis County"

Community Impact writes, "This year’s appraisal valuations from the Travis Central Appraisal District show that single-family residences experienced an average 3.4% decline in market value compared to last year.

However, the median market value for a residential homestead in Travis County is still up 46%, or $163,841, since pre-pandemic levels in 2019.

The big picture

Beginning April 9, more than 488,000 Travis County property owners received their appraisal notices by mail. The notices include the market value assigned to a property as of Jan. 1, as well as the taxable value of that property based on its exemptions.

“Property owners can review their 2025 values on our website and should expect to receive their notices of appraised value over the next…

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