Luxe Austin Homes - for sale

"August home prices, sales vary in Lake Travis, Westlake area"

Community Impact Austin reports, "the median home price in August for the majority of Lake Travis/Westlake homes is down year over year, according to data from the Austin Board of Realtors. Homes in the 78733 ZIP code saw the biggest drop with median home prices decreasing by nearly 57%.

Prices did increase in some ZIP codes, however. The median price of homes sold in 78735 was $1.2 million, nearly 50% higher than last year. Median home prices in 78746 also reached $2.7 million, the highest in the market. 

The number of home sales are also down year over year, with sales in 78735 dropping 43%, the highest in the market. There were some jumps, however; in 78733, home sales increased by 350%, the highest in the market.

Overall, homes stayed on…

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"Pearlstone envisions denser Austin, forges ahead with $700M in urban housing"

Austin Business Journal writes, "amid a year of muted activity for commercial real estate development, Pearlstone Partners LLC is betting big on the continued allure of Austin — it has three new projects up its sleeve that could total about $700 million in construction costs. That's on top of Robert Lee and his team forging ahead on three under-construction projects expected to deliver from early 2024 through 2025.

The Austin-based company just unveiled details on three multifamily communities planned to rise on prime sites, spread from Rainey Street to the northwest side of the Central Business District. All three are still in the investment phase, meaning they may not deliver for a few years.

Demand for housing has slowed across the board in…

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"Homebuilder GFO Home offering 4.75% fixed rates on North Austin metro homes"

Community Impact Austin writes, "homebuilder GFO Home is expanding into Austin-area communities. In August, the builder is offering a variety of promotions, such as 50% off upgrades on to-be-built homes or a 4.75% fixed rate on quick move-in homes—available in Pflugerville, Georgetown, Liberty Hill and Manor—at no cost to customers.

A closer look

According to a news release, GFO Home has homes for sale at pre-grand-opening prices in two new Austin-area communities: Saddleback at Santa Rita Ranch in Liberty Hill, opening in September, and Enclave at Cele in Pflugerville, opening in October. GFO is also starting a new community in Leander near the San Gabriel River.

What else?

According to GFO Home, the builder currently has more than 50 inventory homes…

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"High interest rates aren't deterring homebuyers in Austin"

CultureMap Austin writes, "real estate experts now have a much clearer picture regarding the resilience shown in Austin's housing market. The latest Austin Board of Realtors' (ABoR) report revealed that July 2022 was when the Austin-Round Rock housing market initially started stabilizing. If current trends continue, ABoR says 2023 will have a "strong finish."

"We now have a direct year-over-year comparison of when our market began stabilizing, and the big fluctuations we’ve previously seen have started to even out," said 2023 ABoR president Ashley Jackson in the report. "Potential buyers who have been on the fence about purchasing a home should know interest rates are settling, and now is the time to act."

Even with interest rates beginning to…

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"Home prices stabilize after historic highs in Southwest Austin area"

Community Impact Austin writes, "even as Southwest Austin remains among the most desirable and pricier areas of the metro to buy or rent, local data points to the housing market settling down after a recent burst of activity.

Movement toward a more balanced market has been underway since last year with observers crediting broader trends, such as rising interest rates, lasting inflation and more mild job growth, for spurring the changes. Every month in 2023 has seen local homes priced well below 2022 levels and taking longer to sell.

The days of new home listings drawing crowds and selling rapidly are not entirely over, some real estate experts said. Generally, they said buyers now have a better chance to explore their options thanks to narrowing…

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"Roughly 1 in 4 Homes for Sale in Austin and Seattle Cost Less Than They Would Have a Year Ago"

Redfin News reports, "one-quarter of homes for sale in Austin, TX (25.8%) have lower estimated monthly housing payments than they would have if they had been for sale a year ago. That’s a higher share than any other major U.S. metropolitan area Redfin analyzed and more than triple the nationwide share of 7.1%. 

Seattle is close behind, at 23.6%, followed by San Francisco (18.8%), New York (18.3%) and Pittsburgh (15.6%).

This is according to a Redfin analysis of U.S. single-family homes, condos/co-ops and townhouses for sale as of April 11, 2023. We estimated what a homebuyer’s monthly housing payment would be on those homes using the Redfin Estimate of the homes’ value in April 2023 and the average U.S. mortgage rate in March 2023. To estimate what…

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"Seller’s Market, Buyer’s Market, ‘Nobody’s Market’? The Weird State of Housing Right Now"

Realtor.com writes, "today’s housing market has everyone wondering: Is it still a seller’s market, or has the power dynamic finally shifted in favor of buyers?

Try neither.

Uncertainty about the future of inflation, the economy, mortgage rates, and more have seized up the market—and wrenched power away from buyers and sellers alike.

“Today, real estate is ‘nobody’s market,'” notes Realtor.com® Chief Economist Danielle Hale in her analysis of housing data for the week ending Feb. 4. “The number of homeowners deciding to sell continues to lag, but inventory and time on market continue to climb, reflecting still-hesitant buyers.”

We’ll break down what the latest real estate statistics mean for homebuyers and sellers in this latest installment…

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"2023’s Housing Market Is Looking Up: 3 Things That Should Give Homebuyers Real Hope"

Realtor.com writes, "after suffering all-time lows during the COVID-19 pandemic, the supply of homes for sale has rebounded with a bang.

January marked a whopping 65% more real estate listings than this same month a year earlier, according to a recent inventory report from Realtor.com®.

And while home prices are still up year over year, they’ve declined from the pandemic peak. January’s median home list price clocked in at $400,000—holding steady since December but much lower than June’s record high of $449,000.

In addition to this deluge of homes for sale at more reasonable prices, mortgage rates are also down from their 20-year high, which broke 7% in November. For the week ending Jan. 26, Freddie Mac found that rates for a 30-year…

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"Decline in U.S. Pending Home Sales Gathers Steam in September"

Realtor.com writes, "the numbers: U.S. pending-home sales fell 10.2% in September, which is the fourth straight monthly drop, according to the monthly index released Friday by the National Association of Realtors (NAR).

The decline was much larger that forecast. Analysts polled by the Wall Street Journal had forecast the pending home sales index to drop by 4%.

Outside of the pandemic, the drop in pending home sales is the largest year-over-year decline since 2001. Sales dropped by 33.1% in April 2020.

Contract signings fell by double-digits in all regions across the country.

Pending home sales reflect transactions where the contract has been signed for an existing-home sale, but the sale has not yet closed.

Economists view it as an…

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"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…

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