Luxe Austin Homes - residential real estate

"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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"'Samsung effect' spurs plans for 100-acre residential development in fast-growing Taylor"

Austin Business Journal reports, "A new 100-acre residential neighborhood could be coming to Taylor, where economic growth has been explosive thanks to Samsung’s 2,000-acre, multibillion-dollar semiconductor plant that's under construction in the city.

The development, called Turner Springs, would be home to single-family and multifamily residences as well as commercial and retail properties, according to Taylor Planning & Zoning Commission documents. The commission recommended the project for approval at its July 9 meeting.

If it comes to fruition, the project would be built on two properties that have been owned by an entity known as Turner Bobby Jr Etal since 2000, according to the Williamson Central Appraisal District. Insite…

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"Wood Partners Celebrates Grand Opening of 267-Unit Alta Wildhorse Ranch Luxury Townhome Community in Austin, Texas"

MultifamilyBiz writes, "Wood Partners, a national multifamily real estate development leader, announced the grand opening of Alta Wildhorse Ranch, a luxury townhome community located directly off U.S. Highway 290 and Texas SH-130. Alta Wildhorse Ranch marks the third Wood Partners property opened in Austin within the past year.

"We are excited to bring our latest community to Austin," said Bart Barrett, Managing Director for Wood Partners. "Located down the street from downtown Manor and with easy access to the Austin metro, Alta Wildhorse Ranch is a luxury townhome property that fits in well with the small town feel of the local community."

Alta Wildhorse Ranch is situated in an ideal location, with access to major employers, recreation and…

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"Meet the Ander Condo Project, Bringing Nearly 200 Homes to West Anderson"

TOWERS Austin writes, "Here’s a completely true thing you can say that will greatly irritate many people: Condos are pretty rare in Austin. Although they’re the boogeyman of choice for locals lamenting the relentless march of time, the fact is that the vast majority of new multifamily residential construction in Austin delivers apartments for rent, rather than condos for sale. Of the thousands upon thousands of new housing units constructed in the region since the start of the pandemic, condos make up about five percent or less of that total, and this isn’t great news for first-time homebuyers, since condos are often significantly less expensive than detached single-family homes.

The reason developers tend to prefer apartments over condos is all…

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"Over 1,400 homes may rise in Lockhart"

Austin Business Journal reports, "Over 1,400 rooftops are slated to rise south of Austin as the city of Lockhart continues to grow.

Lockhart City Council on June 18 approved the addition of a 472-acre municipal utility district, called Juniper Springs, from Houston-based Perry Homes to the city’s extraterritorial jurisdiction, a move that required the ETJ to be expanded by 88 acres.

The new MUD would allow 1,428 homes to be built on the western edge of Lockhart along State Highway 142, officials said during the meeting. That amount of homes could result in dramatic population growth for Lockhart, a city that's attracted big projects and industrial development in recent years.

Lockhart’s growth over the past decade-plus has been muted, rising…

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"Homeowner equity continues to rise despite housing-market challenges"

Austin Business Journal reports, "American homeowners continue to build significant equity even as the housing market has slowed and home prices aren't rising as rapidly as they did in recent years.

U.S. homeowners with a mortgage pulled in $28,000 in equity gains on average year over year in the first quarter, the highest amount since late 2022, according to CoreLogic Inc. That average year-over-year increase of 9.6% translates to a collective gain of $1.5 trillion and means net homeowner equity totaled more than $17 trillion at the end of Q1.

The implications behind homeowners' gains in home equity are varying, but the gains seen since the Covid-19 pandemic ultimately mean homeowners are gaining wealth, said Selma Hepp, chief economist at…

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"Austin home prices jumped 87 percent in 10 years, report reveals"

CultureMap Austin shares, "A new real estate report confirms something that Austinites pretty much already knew: The city of Austin saw a significant increase in housing prices among U.S. cities within the last decade, with median home prices skyrocketing up to 87 percent.

The report by online real estate database PropertyShark analyzed median home sale prices in 41 of the most populous U.S. cities and locales in 2014 and 2023. According to the study, the median sale price of a home in Austin in 2014 was $287,000. A decade later, median housing prices in the city nearly doubled, landing at $538,000 in 2023.

Demand for housing increased dramatically due to the COVID-19 pandemic, when "millions of office employees suddenly shifted to working from…

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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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"Four Seasons preps amazing piece of Austin for resort-style residences"

CutureMap Austin writes, "One of the most scenic pieces of real estate in Austin is in an area many locals would never have visited. High up in the hills above Lake Austin, it's accessible by a switchback road tucked into 2,000 acres of protected land beyond some existing residences and offices. Soon, residents will also be able to travel by air-conditioned funicular — a European cable car — transforming this escape 380 feet above the lake into a quasi-alpine retreat: the Four Seasons Private Residences Lake Austin.

The Four Seasons and and Austin Capital Partners have taken their time to get every detail right before breaking ground on the 100,000 square feet of private amenities. In 2021, the Four Seasons unveiled the plans (with slightly…

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"Is it a buyer's or seller's market? Neither — but it's moving toward buyers finally"

Austin Business Journal shares, "The Austin-area housing market has reached a stalemate between buyers and sellers — and that's allowing much-needed inventory to catch up and prices to hold steady.

A few years ago it was common for some parts of Central Texas to have a week or two of housing stock. Home inventory in May was clocked at 4.9 months — 1.5 months more than a year ago. It's a level of inventory that hasn’t been seen in 13 years, according to the Unlock MLS report on the Austin Board of Realtors website. Housing experts often say six months of inventory is representative of a healthy market.

“The good news is that we are moving toward a more sustainable level of inventory, which will provide price stability for sellers and more choices for…

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