Luxe Austin Homes - residential real estate

"Home sales volume continues to remain low in Central Austin"

CommunityImpact Austin writes, "The real estate market for the Central Austin area experienced some decline in home sales volume in July year over year; however, home sales volume increased compared to June, according to data from the Austin Board of Realtors.

This was coupled with an increased amount of time on the market and a decline in sale prices year over year, according to the data.

The details

Home sales volume declined in half of the ZIP codes in the Central Austin market, with the biggest percentage decrease in 78701, while the largest percentage increase was seen for 78731. In June, all 12 ZIP codes experienced a decline in sales.

There was also an increase in all but two of the 12 ZIP codes in days on the market, with the largest increase…

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"Million-dollar markets: America's most expensive ZIP codes for housing"

Austin Business Journal writes, "California's 94027 stands alone when it comes to the nation's most expensive ZIP codes for housing.

The typical home value in 94027 - Atherton, which is located near San Francisco, was $7,711,460 in March 2024 — leading the way among all ZIP codes in America.

That’s according to research obtained for The Business Journals Wealthy 1000, a recent ranking of the nation's wealthiest ZIP codes based on a weighted formula that looks at numerous wealth metrics, including typical home value data from Zillow.

California's 94027 stands alone when it comes to the nation's most expensive ZIP codes for housing.

The typical home value in 94027 - Atherton, which is located near San Francisco, was $7,711,460 in March 2024…

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"Multifamily spigot opens with Endeavor’s North Burnet development"

TheRealDeal reports, "Endeavor Real Estate Group is moving forward with an apartment project on a 4.3-acre site in Austin’s North Burnet neighborhood. 

The Austin-based developer will bring 396 units to 2320 Kramer Lane, in an area that has relaxed zoning under the city’s North Burnet/Gateway plan, Towers reported. 

The project will feature five floors of residential units, 14,000 square feet of amenity space, and a central parking garage. It is set to replace a Culver’s fast food restaurant and the Copenhagen Imports furniture store. 

The location is half a mile from Q2 Stadium, near CapMetro’s McKalla and Kramer light rail stations. Construction is expected to start sometime next year.

Atlanta-based Dwell Design Studio is the…

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"Luxury home prices hit a new high, more 'starter' homes now cost $1M"

Austin Business Journal reports, "The U.S. luxury housing segment has bucked some of the trends affecting the rest of the residential real estate market, in large part because those buyers and sellers are less affected by affordability issues.

But like the broader housing market, luxury homes continue to see a surge in prices. In fact, luxury home prices hit a new high in the second quarter of this year, with a typical home in the category selling for $1.18 million, an 8.8% increase from the same quarter last year, according to Redfin Corp. data.

Redfin defines luxury homes as those estimated to be in the top 5% of their respective metro areas, based on market value, while non-luxury homes are estimated to be in the 35th to 65th percentile based…

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"Best Places to Buy a House in the USA for Investment (2024)"

Norada Real Estate Investments writes, "Tired of watching your money sit idle while property values soar? You're not alone. The allure of real estate investment is undeniable, promising substantial returns and financial freedom. But with countless markets vying for your attention, where do you even start? Fear not, aspiring landlord! This guide is your compass through the complex world of real estate investment. We'll uncover the 10 best places to buy a house in the USA for investment, offering promising growth, rental demand, and unique market opportunities.

10 Best Places to Buy a House in the USA for Investment

1. Nashville, Tennessee

Nashville is not just known for its vibrant music scene— it has also emerged as a real estate hotspot. The…

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"Home prices stabilize as real estate options in the Bastrop County area increase"

Community Impact writes, "A rise in housing options and interest rates has led to an increased number of houses available to potential buyers in Bastrop and Cedar Creek.

The population in Bastrop County was 106,000 as of 2022, a 20% increase from 2019, according to data from the U.S. Census Bureau. In the same timeframe, the number of housing units in the county increased by over 27% from 31,085 to 39,539.

“I think we can attribute this [population growth] to several factors—the rise in remote work options, competitive home prices compared to our nearby markets, and the ease of commuting from most of the Bastrop-Cedar Creek area into Austin or other areas,” said James Beck, Bastrop County Board of Realtors president and owner of Centum Oak Realty.

…

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"The Modern Austin Residences Tops Out in the Rainey Street District"

Towers Austin shares, "The 56-story Modern Austin Residences condo tower project celebrated its official “topping out” this week, with the building now reaching its maximum structural height of 658 feet at the northeast corner of Davis and Rainey Streets on the north end of the Rainey Street District in downtown Austin. It’s just one of multiple tower projects currently redefining the skyline of this neighborhood, which already contains the densest residential population in downtown and is set to gain hundreds more homes in the years to come — including 320 new residences at the Modern, with 21 of those condos income-restricted under the district’s affordable housing requirements.

The tower’s topping off obviously represents a milestone for the…

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"Case-Shiller Index: Home price gains hit another all-time high"

Bankrate.com writes, "Amid an environment of tight inventory and stubbornly high mortgage rates, housing prices in the U.S. continue to rise ever higher. S&P CoreLogic’s latest Case-Shiller U.S. National Home Price NSA Index, released July 30, 2024, reports that annual home-price growth increased in May 2024 by 5.9 percent. That marks three consecutive months of hitting a new all-time high.

Case-Shiller Index still rising

In addition to the 5.9 percent overall increase, May numbers increased annually for both of Case-Shiller’s composite indices as well, with the 10-city index up 7.7 percent and the 20-city index up 6.8 percent.

“Our home price index has appreciated 4.1 percent year-to-date, the fastest start in two years,” said Brian D.…

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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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"Tower on West Sixth Street nears completion"

Austin Business Journal shares, "Another West Sixth Street tower is approaching the finish line.

ATX Tower, formerly known as 321 West, will open in the fourth quarter this year after topping out in May, according to an announcement. The 58-story tower will add hundreds of apartments and a big chunk of office space to downtown, much like Sixth and Guadalupe, which opened earlier this year and is located across the street from it.

ATX Tower is being co-developed by Ryan Companies US Inc. and Tishman Speyer Properties LP, the latter of which came on board in 2021.

In total, ATX Tower, located at 321 W. Sixth St., is 425,000 square feet. Floors two through 11 are dedicated to parking. Floors 14 through 19 consist of more than 100,000 square feet…

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