Luxe Austin Homes - city

"No longer ‘frantic’: Number of homes for sale in Austin metro highest in more than a decade"

AUSTIN (KXAN) — "The number of homes for sale in the Austin metro area is the highest in more than a decade.

A total of 9,671 homes were actively listed in September across the five-county area — the highest number since July 2011, according to the September housing report from the Austin Board of Realtors.

The number of active listings is up more than 160% over last September.

Meanwhile, home sales declined in September. Just less than 3,000 homes were sold last month, down 18.5% year-over-year.

“Homebuyers no longer need to move at a frantic pace to find a home,” said ABoR President Cord Shiflet. “There are more homes to choose from and more time to find a home that works for their needs and budget.”

The median home price across the…

375 Views, 0 Comments

"Is the Rental Market Beginning To Normalize? Priced-Out Tenants Sure Hope So"

Realtor.com writes, "renters haven’t had much good news lately as landlords have jacked up monthly rents to previously unthinkable amounts across the country.

However, the rental market may be returning to something more seemingly normal. In September, the median monthly rent in the 50 largest U.S. metropolitan areas dropped for a second straight month, to $1,759, according to a recent report from Realtor.com®. That’s $12 lower than last month and a $22 drop from the peak in July.

Rents were still up 7.8% from September of last year. However, it’s the lowest year-over-year price increase since May 2021.

The report looked at apartments, condos, townhomes, and single-family homes advertised for rent in September on Realtor.com in the 50 largest…

455 Views, 0 Comments

"Austin boasts some of the biggest houses in the country, new ranking shows"

CultureMap Austin writes "If everything’s bigger in Texas, that should include our homes, right? Well, a new study shows homes in the Lone Star State are among the biggest in the country — but not the biggest.

Texas appears at No. 11 on American Home Shield’s list of the states with the biggest houses. In Texas, the average home is 2,170 square feet, well behind top-ranked Utah (2,800 square feet).

But don’t despair, fellow Texans. Six Texas cities, including Austin, land on American Home Shield’s list of the top 20 major cities for home size. This list looks at average home sizes in the country’s 50 largest cities.

After reviewing more than 500,000 U.S. home listings from Zillow, American Home Shield concluded that Austin's average home…

558 Views, 0 Comments

"Novak Brothers Breaks Ground on Austin Luxury Apartments"

According to Multi-Housing News, "Novak Brothers Development has broken ground on Rise510, a 301-unit luxury garden-style component of its master-planned Wolf Lakes Village development. The community will be located in Georgetown, Texas, with construction expected to be completed in the summer of 2024.

Rise510 will be built on 12 acres of the 164-acre European-inspired village, and will host a mix of apartment homes and townhouses, according to the developer’s website. The development’s amenities include a fitness center, swimming pool, community park and private, resident-only parking spaces. The greater Wolf Lakes Village hosts landscaped park space, private lakes, an outdoor amphitheater, hiking trails and an ice-skating rink. The community’s…

401 Views, 0 Comments

"Austin housing market continues to stabilize, fueled by skyrocketing inventory and 'normal' price growth"

According to CultureMap Austin, "For the third month in a row, the Austin Board of Realtors reports that the local housing market is returning to normal. Following the unprecedented price growth experienced in early 2022, the market is shifting back to a normal pace, fueled by skyrocketing inventory and normalized home price appreciation.

The latest monthly report shows that in August 2022, the metro's median home price jumped 5.5 percent year over year, to $496,038. While a record high for the month of August, ABOR says the growth "[indicates] a normalization of home price appreciation that economists say is consistent with historical norms."

In the city of Austin, the median price grew 3.6 percent year over year to $555,000; Travis County's…

469 Views, 0 Comments

Forecast shows Austin-area population could surpass San Antonio by 2040

No one can gaze into a crystal ball and tell us what the population of the Austin metro area will be two decades from now. Forecasts from professional prognosticators give us a pretty good idea, though.

A CultureMap analysis of the most recent population projections from the Texas Water Development Board, a government agency that helps manage the state’s water supply, shows the Austin area may enter eye-popping territory by 2040. The analysis indicates the population of the Austin metro area will exceed the population of the now-larger San Antonio metro area in just 18 years.

Based on the water board’s county-by-county outlook for Texas, the population of the five-county Austin area will reach 3,340,450 in 2040. By comparison, the population of…

497 Views, 0 Comments

Palladius Capital gets apartments in fast-growing Austin suburb

A major real estate investor in Austin has acquired a sizable apartment complex in the fast-growing suburb from a prominent developer based in the city.

Palladius Capital Management acquired the 342-unit, located in Kyle from Endeavor Real Estate Group, which completed the project earlier this year.

The sale price was not disclosed.

Kyle and other areas south of Austin have proven to be a popular market for multifamily construction and projects as of late

The complex Palladius got is called Citizen House Kyle, and located along the I-35 Innovation Corridor, part of the larger Dry River District, which includes a 65-acre mixed-use community also being developed by Endeavor Real Estate Group. The deal for the apartment complex includes one-…

459 Views, 0 Comments

Here’s Our First Look at the Two Towers Headed for Block 32 in Downtown Austin

Updates to the site plan for the Block 32 tower project now working its way through the city’s permitting process offer us a closer look at the two towers set to rise atop a half-block at East Third and San Jacinto Streets in downtown Austin — and although our city is pretty spoiled for impressive new buildings lately, these plans show a pair of towers with a design that should prove remarkable on the skyline. We now know the developer behind the project is Austin’s own Manifold Real Estate, which has quite a few projects cooking at the moment, though Block 32 could become the largest yet. 

The two towers would rise at the half-block bound by San Jacinto Boulevard, East Third, East Fourth, and Trinity Streets directly west of the Austin Convention…

479 Views, 0 Comments

Crane Watch: High-rise hotel to replace bar previously called Russian House; Tesla plans another Austin store

Indiana-based White Lodging is gearing up to develop a 269-room high-rise hotel at the intersection of Fifth and Trinity streets.

The project, planned at 307 and 311 E. Fifth St., would rise 128 feet and encompass 188,640 square feet, according to public documents.

While White Lodging is developing the project, the owner is listed in public documents as 311 E 5th Series, a subsidiary attached to Finley Company.

The project site is about four-tenths of an acre. The space is currently occupied by low-slung buildings that were once home to the Trinity Hall event venue and House restaurant and bar (formerly Russian House), both of which have closed.

White Lodging declined to discuss more granular details of the development at this time.

In…

623 Views, 0 Comments

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,…

367 Views, 0 Comments