Luxe Austin Homes - median sales price

"Austin home prices rise, but so do choices for buyers"

Austin Business Journal writes, "As spring rolls on, Austin’s housing inventory continues to grow.

April saw an increase in active and new home listings in the region, as well as pending and closed sales, according to the most recent market data from Unlock MLS published on the Austin Board of Realtors' website.

Unfortunately for home buyers, the median sales price of a home in the metro also creeped up in an already-pricey environment due to elevated interest rates. Still, the increase in inventory has resulted in an uptick in the number of home for sale at many price points, even those priced more affordably.

“The MSA experienced an increase in sales, indicating more opportunity in the market for all buyers,” stated Clare Losey, Unlock MLS…

282 Views, 0 Comments

"New-Home Sales Surge as Buyers Seek Options in Tight Housing Market"

Realtor.com reports, "New-home sales surged last month, as buyers increasingly turned to fresh construction in a housing market plagued by few homes for sale.

Sales of new single-family houses jumped 8.8% in March from the prior month, to a seasonally adjusted annual rate of 693,000, the U.S. Census Bureau and Department of Housing and Urban Development jointly reported on Tuesday. March sales were up 8.3% from one year ago and were at their highest levels since last September.

The median sales price of new homes was $430,700 in March. That was good news for buyers as the price was down 1.8% from one year ago. This is a result of homebuilders increasingly pivoting to smaller and more affordable homes to appeal to buyers pinched by high mortgage…

233 Views, 0 Comments

"Buda's Sunfield is metro's fastest-growing neighborhood"

Austin Business Journal reports, "Buda’s Sunfield is the fastest-growing neighborhood in the metro, nabbing the top spot after leapfrogging from the No. 8 position in 2023. See the list below this article.

Scarborough Lane Development’s Sunfield, a 2,795-acre master-planned community, earned first place on Austin Business Journal’s latest list of fastest-growing neighborhoods with 470 home starts last year. The list is based on data from real estate company Zonda.

There are eight homebuilders active in Sunfield, where homes can be purchased at prices much lower than the average home in the metro.

While Sunfield’s 470 home starts was an increase over the 291 home starts reported on our 2023 list, many neighborhoods saw a decrease in home…

299 Views, 0 Comments

"Many new homes hitting the Austin metro market are priced affordably for first-time buyers, ABOR says"

Austin Business Journal shares, "New listings for homes for sale in the Austin metro surged in February, a rise driven largely by lower-priced homes that are considered affordable for first-time homebuyers, according to data from the Austin Board of Realtors.

February saw 3,915 new home listings in the metro, according ABOR’s latest market report. That’s up from just 3,064 in January, and an increase of more than 40% year-over-year from the 2,764 new listings reported in February 2023.

ABOR housing economist Clare Losey said many of the new listings are for homes priced under $400,000.

“Higher home prices and mortgage rates have diminished affordability for first-time homebuyers over the past few years, but February provided encouragement for…

284 Views, 0 Comments

"State of the housing market: new listings are up, prices are stable"

ATX Today writes, "In a word, the Austin housing market is looking fairly stable for both buyers and sellers, according to the Austin Board of Realtors’ February Market Statistics report. 

Let’s dive into some statistical highlights from last month."

City of Austin

• Sales rose by 3% compared to February 2023.
  
  • About 200 more homes sold in February 2024 than January 2024.
• The median sale price is $543,200, about $15,000 less than February 2023. However, that’s ~$8,700 more than January 2024.
• New listings increased by 41.7% compared to this time last year.

Austin-Round Rock-Georgetown metropolitan area

• The median sale price in February was $443,065, which is ~$13,000 more than January 2024 but ~$6,000 higher than…

215 Views, 0 Comments

"New real estate report calls Austin housing market 'optimistic'"

KVUE AUSTIN, Texas writes, — "Real estate experts are calling the housing market in Austin "optimistic."

Unlock MLS released its January market analysis on Wednesday. It shows the median home sales price in the Austin-Round Rock area dropped about 4% to $430,000. At the same time, residential home sales increased by about 4% compared to the year before.

A housing economist for Unlock MLS and the Austin Board of Realtors (ABoR) said although mortgage rates are still elevated, a recent decline is leading to lower home prices and an increase in closed sales.

“January marks the 15th consecutive month of year-over-year median sales price declines in the Austin-Round Rock housing market, empowering more homebuyers to enter our…

255 Views, 0 Comments

"Austin-area housing inventory rises as affordability challenges mount"

Austin Business Journal reports, "the Austin metro’s housing inventory is the highest it’s been in more than eight years.

Inventory in the region hit the four-month mark in September, according to the Austin Board of Realtor’s monthly market data. Inventory represents how long it would take to sell all of the homes on the market if new listings stopped, and housing experts say six months of inventory typically represents a healthy balance between supply and demand.

While that may sound promising for a region that's experienced a dearth of new homes, it takes some pain to have the gain. The number of closed sales is notably down. ABOR housing economist Clare Losey said this could be caused by a number of factors, including high interest rates and…

339 Views, 0 Comments

"'The market is active and resilient': Austin area sees uptick in home sales"

Austin American-Statesman writes, "Resilient.

That's the status of the Austin-area housing market as of August, when it saw its first year-over-year increase in home sales since early 2022, the Austin Board of Realtors says.

In its latest monthly report, the board said 2,939 houses changed hands last month in the five-county Austin region, which extends from Georgetown to San Marcos.

The sales represented a 1.4% increase over August 2022. It was the first increase in sales in the Austin region since February 2022, before repeated interest rate hikes by the Federal Reserve to ease inflation began sharply slowing home sales throughout Central Texas.

Across the Austin-Round Rock metro area, half of the houses last month sold for more than…

380 Views, 0 Comments

"What a more normal Austin housing market looks like"

Austin Business Journal writes, "Austin's housing market has had a full year of "normalization," experts say, but we aren't out of the woods yet.

After years of soaring prices and diminished inventory fueled by a pandemic-era buying frenzy, home prices began falling back toward more normal levels and inventory began rising in July 2022. Market observes have framed this as a return of more normal conditions, dictated by actual supply and demand and affected by typical season fluctuations.

A year later, what does that look like? The Austin Board of Realtors this week reported that the metro had a median sales price of $462,000 last month, down 10% from a year prior and much lower than the peak of $550,000 in April and May 2022.

Inventory, which…

340 Views, 0 Comments

"Austin housing prices are down one year after setting spring records"

Austin Business Journal writes, "one year after setting a median sales price record of $550,000 last April, housing prices are down in the metro.

The median sales price in the Austin area was $466,705, a 15% year-over-year decrease that amounts to $83,295, according to the Austin Board of Realtors April market report. And while prices have been trending up in recent months, the year-over-year decrease is a welcome signal to Central Texas, which saw housing prices skyrocket at unsustainable rates during the Covid-19 pandemic to a level where many buyers were over-bidding on property. It wasn't uncommon for a $400,000 home to sell for closer to $500,000 in recent years.

“This is still a market that is seeing lots of activity, just not at a…

422 Views, 0 Comments