Luxe Austin Homes - new listings

"Homebuyers can afford to be picky as Austin housing inventory rises"

CultureMap Austin shares, "The latest real estate report from Unlock MLS and the Austin Board of Realtors (ABoR) has revealed housing inventory is still on a steady rise in the Austin-Round Rock-San Marcos MSA, creating more choices for potential homebuyers as they navigate a high interest rate market.

Residential home sales dipped by a mere 1.5 percent year-over-year from October 2023, amounting to 2,248 closed sales in the Austin-Round Rock-San Marcos MSA. Median prices have also dropped to $430,000, or 3.2 percent less than this time last year. More than 3,300 new home listings were added on the market — a 7.4 percent increase from 2023 — bringing the total number of active home listings to 11,599.

According to Unlock MLS and ABoR housing…

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"Housing inventory, listings increase in Austin metro as mortgage rates remain elevated"

Austin Business Journal reports, "Mortgage rates remain elevated compared to recent years, but Austin-area homebuyers have a robust inventory of choices, according to the latest market data from the Austin Board of Realtors and Unlock MLS.

The median sale price for homes fell slightly in October to $430,000, a 3.2% drop from the same time last year. And with a housing inventory that eclipsed the five-month mark, buyers had plenty of options.

Meanwhile, overall transaction volume remained flat year-over-year, as both active and new listings increased compared to October 2023.

But elevated mortgage rates — the average 30-year fixed-rate mortgage was 6.79% for the week of Nov. 7 — continue to be the biggest factor affecting home sales, said…

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"Austin metro's hottest housing markets ranked"

Austin Business Journal shares, "Neighborhoods on the shores of Lake Travis, in Round Rock and in Driftwood are among the hottest housing markets in the Austin area.

That's according to The Business Journals' inaugural hottest housing markets ranking, which is based on third-quarter listing and sales data from Intercontinental Exchange Inc.

The ranking is intended to emphasize sales and pricing momentum in individual ZIP codes, using a weighted formula that includes quarterly and year-over-year comparisons. Only ZIP codes with complete data were included in the analysis. You can read more about the methodology at the bottom of this story.

Using those criteria, Austin’s 78726 ZIP code was found to have the most momentum in the metro. Located…

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"Mortgage Rates Rise to 6.54% as Homebuyers Decide Whether To ‘Act Before Winter’"

Realtor.com shares, "mortgage rates climbed from 6.44% last week to 6.54% for a 30-year fixed home loan for the week ending Oct. 24, according to Freddie Mac.

“The continued strength in the economy drove mortgage rates higher once again this week,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “Over the last few years, there has been a tension between downbeat economic narrative and incoming economic data stronger than that narrative. This has led to higher-than-normal volatility in mortgage rates, despite a strengthening economy.”

Unfortunately for would-be homebuyers—and sellers—this uptick marks the fourth week in a row that mortgage rates have risen.

“This rapid run-up in mortgage rates has sapped some of the burgeoning…

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"Mortgage Rates Rise to 6.44%, Yet ‘Buyers May Be Feeling Ready To Act’"

Realtor.com shares, "Mortgage rates rose from 6.32% last week to 6.44% for a 30-year fixed home loan for the week ending Oct. 17, according to Freddie Mac.

“The 30-year fixed-rate mortgage increased for the third consecutive week, moving closer to 6.5%,” Sam Khater, Freddie Mac’s chief economist, said in a statement. “In general, higher rates reflect the strength in the economy that is supportive of the housing market. But notably, as compared to a year ago, rates are more than one percentage point lower and potential homebuyers can stand to benefit, especially by shopping around for the best quote as rates can vary widely between mortgage lenders.”

This wasn’t exactly the news homebuyers were hoping for.

“While we expect the long-run trend…

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"Buyers continue to hold out as rates stay put"

Real Estate News writes, "After a steady three-week decline, mortgage rates barely budged this week — and home sales have grounded to a halt as buyers wait to see what the Federal Reserve will do.

The 30-year fixed-rate mortgage averaged 6.78% this week, nearly unchanged from last week's 6.77% average, according to the latest Freddie Mac survey. The 15-year fixed-rate was also up slightly, to 6.07%.

Rates appear to be in a bit of a holding pattern ahead of next week's Federal Reserve meeting. The agency is not expected to cut interest rates at the July meeting but will likely signal whether cuts are coming soon.

Investors and analysts are expecting a September rate cut, but there's still a possibility that the Fed could disappoint and send…

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"Active Austin home listings keep rising in emerging 2024 trend, says report"

CultureMap Austin reports, "The latest real estate report from Unlock MLS and the Austin Board of Realtors (ABoR) has revealed that June saw a significant increase in the number of active home listings in the Austin metro area — continuing on a three-month high that began in April — and median sale prices are dropping to accommodate the rise in inventory.

New in the June report, Unlock MLS refers to the Central Texas region as the Austin-Round Rock-San Marcos metropolitan statistical area (MSA), whereas it was previously identified as the Austin-Round Rock-Georgetown MSA.

The data shows there was a 13.4 percent drop in home sales across the Austin-Round Rock-San Marcos MSA, with only 2,732 homes sold in June for a median price of $450,000. There…

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"Home prices begin to come down in pandemic boomtowns like Austin, Tampa"

Yahoo! Finance writes, "Real estate prices surged nationwide when the pandemic hit. Bidding wars, all-cash offers, and contingency removals became commonplace.

Now, the tide has turned in some markets.

Home prices in some large US cities declined in April, according to mortgage data company ICE Mortgage (ICE). San Antonio and Austin in Texas, and Tampa, Florida — among the most popular cities during the pandemic — saw the biggest monthly price declines.

The shift comes as these markets recalibrate: Homesellers and house builders are adding more listings, just as fewer Americans are relocating there.

“The key differentiator we're seeing in terms of growing inventory levels in Florida and Texas is a rise in sellers' willingness to list their…

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"New real estate report shows big spike in active Austin home listings"

CultureMap Austin writes, "Potential homebuyers on the prowl for a house in the Austin-Round Rock-Georgetown area have a lot more inventory to choose from than usual. Active listings rose to over 12,000 residential properties in May, according to the latest real estate report from Unlock MLS and the Austin Board of Realtors (ABoR).

The spike in active listings is a 37.7 percent year-over-year increase from May 2023, the report said, with more than 5,200 new home listings added last month in a 16.3 percent increase from this time last year. Median prices for homes in the Austin-Round Rock-Georgetown MSA dipped to $459,450 in May after they reached nearly $470,000 in April.

This glut of available housing allows buyers a greater level of…

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"Growing number of seven-figure cities have typical home values above $1M"

Austin Business Journal writes, "Nestled amid the palm trees of Jupiter Island, Florida, is a three-bedroom, five-bathroom house with a pool on a half-acre lot.

The 2,798-square-foot house, only steps to the beach and offering ocean views, is currently listed on the market for $5.1 million. As of the time of publication, it's the cheapest house for sale on Jupiter Island, which boasts the highest median home value in America, according to Zillow Group Inc. (Nasdaq: ZG).

The typical home value on Jupiter Island reached $9.98 million in February 2024, according to Zillow, beating out the exclusive neighborhoods of Golden Beach, Florida; Hunts Point, Washington; and Atherton, California.

While certain cities and neighborhoods have always seen…

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