Luxe Austin Homes - sale price

"How buyers have (and haven’t) changed in recent years"

RealEstateNews.com writes, "Zillow’s latest trends report finds that, despite turbulence in the market, consumer traits and preferences are fairly stable — with some key exceptions.

Key points:

• The 2024 Consumer Housing Trends Report reveals that buyer demographics have remained fairly consistent overall, but the share of first-time buyers has declined.
• Buyers are continuing to fork out a higher percentage of the sale price for their down payment, but many are able to secure lower-than-average mortgage rates.
• Staying within their budget and finding a home with air conditioning and the right number of bedrooms are top priorities.

The real estate market has experienced its share of ups and downs over the past few years, but when it…

284 Views, 0 Comments

"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…

192 Views, 0 Comments

"Home prices have reached a milestone. Here's why it's a double-edged sword."

Austin Business Journal shares, "The median sale price for U.S. homes hit a record $383,725 during the four weeks ending April 21, up more than 5% from a year earlier, according to newly available data from real estate firm Redfin Corp.

The increase comes even as the supply of homes also has gone up, with 10.2% more new listings compared to the same time last year.

The record-high sale price is double what the median price was 10 years ago and up about 50% over the past five years, according to Redfin (Nasdaq: RDFN).

High interest rates have kept mortgage rates above 7%, and there's little indication from the Federal Reserve that interest rates will be measurably declining in the near term. That combination has helped push the median monthly…

277 Views, 0 Comments

"Austin housing market crystal ball: See what some experts expect, predict for 2024"

Austin American-Statesman writes, "new housing developments continue to spread across Central Texas, but experts say more homes are still needed to keep pace with demand.

"The Austin new home market overall was steady the last half of the year," said Ben Caballero, CEO of HomesUSA.com. a real estate agent and CEO of Dallas-based HomesUSA.com. “As we head into the holiday season and start the new year, we have the Texas advantage on our side, as we continue to attract large employers. This relocation means a continuing need for more homes, and Austin builders are doing their best to create more inventory."

Caballero said the new-home market in the Austin region is poised for growth, if what many leading economists are predicting comes true – that…

315 Views, 0 Comments

"Austin is home to the 8th most attractive U.S. housing market, new report says"

CultureMap Austin writes, "when it comes to places to buy a house, Austin still remains near the top of the list. So says WalletHub's highly anticipated 2023 report on the best real estate markets in the U.S.

The new study by the personal finance website, released August 22, names Austin the No. 8 most attractive real estate market in the country. The state capital joins a host of other Texas cities within the top 10.

Texas housing markets have dominated WalletHub's report throughout the years, showing resilience as other markets rise and fall. Austin and its Central Texas neighbors have been at the top in similar reports, but the city has slid in WalletHub's 2023 report after ranking No. 4 in the 2022 edition and No. 2 in 2021.

With a great…

333 Views, 0 Comments

"Austin is the No. 1 fastest-growing U.S city for millionaires—see where else made the list"

CNBC reports, "cities like New York City and L.A. might be some of the wealthiest in America, but it’s smaller cities that are becoming more and more appealing to millionaires.

According to Henley and Partner’s 2023 wealth report, cities like Austin, Texas, and Scottsdale, Arizona, are gaining millionaire residents, while bigger cities like Chicago, and New York City are losing them.

Top 5 fastest-growing U.S. cities for millionaires

1. Austin, Texas
2. West Palm Beach, Florida
3. Scottsdale, Arizona
4. Miami, Florida
5. Greenwich and Darien, Connecticut

The No. 1 city on the list is Austin, Texas. According to the report, the Texas city saw a millionaire growth rate of 102% from 2012 to 2022. In December 2022, Austin was home to…

501 Views, 0 Comments