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"Austin, San Antonio, Houston Realtors to have access to nearly 60% of Texas real estate listings"

Community Impact shares, "A data share agreement between the Austin Board of Realtors, San Antonio Board of Realtors and Houston Association of Realtors is set to give Realtors with all three associations access to nearly 60% of all Texas real estate listings by the end of the year.

How it works

The agreement between the three metroplexes, which was announced in early October, will open up access between the associations' Multiple Listing Service, or the online portal where Realtors can share information about homes for sale in their markets.

As of Nov. 4, there are approximately:

• 17,970 ABoR MLS subscribers
• 14,889 SABoR MLS subscribers
• 48,000 HAR MLS subscribers

After the data share agreement goes live, the over 80,000 combined MLS…

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"Austin Named Nation’s Top Apartment Market"

Realty News Report shares, "Austin ranks as the top apartment market in the nation, according to a new study by Realtor.com.

San Antonio, located about 75 miles from Austin, also ranked near the top of the “Top 10 Markets for Renters” – a Realtor.com report naming metros that earned high praise for their rental affordability, availability of leasable units, economic growth projections and shorter than average commute times.

The survey says Austin, Oklahoma City, Okla., Birmingham, Ala. and San Antonio nabbed the top four places, respectively, in the overall rankings. The 10 top-tier communities – all located in the South and Midwest — placed highest in the nation for their encouraging rental and related attributes.

The capital of the Lone…

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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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"Austin home sales and prices expected to drop in 2024 according to new Realtor.com report"

Austin American-Statesman writes, "soaring home prices in recent years could calm down in 2024 after a report from Realtor.com predicted a drop in both home sales and prices for the Austin-Round Rock Area. 

Specifically, the real estate website predicted home sales in the Austin metro area would fall by 11.7%, while prices would fall by 12.2% compared to both of those marks in 2023. 

Moreover, across the country, the website predicted median home prices would fall by a much smaller 1.7%. However, it should be noted that larger, and recently more expensive, markets are expected to see bigger drops in price. 

How are other Texas housing markets expected to perform in 2024?

While the Austin area is predicted to see the biggest combined…

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"Where tens of thousands of new apartments will rise between Austin, San Antonio"

Austin Business Journal reports, "the San Antonio and Austin metros have more more than 55,000 apartment units under construction, highlighting the immense fortune developers are poring into the emerging metroplex.

Just looking at the I-35 corridor between the two big cities, 23,000-plus units are proposed, under construction or have come online in the past 12 months, according to data from MRI ApartmentData, a multifamily analytics firm tracking Sun Belt markets.

That shows multifamily developers and investors are eager to keep pouring money into dense housing in the region. To be sure, there are thousands of single-family homes in the pipeline as well, although many experts have said denser, more affordable housing is desperately needed to…

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"Compass adds 630 agents, acquiring firm that did $5B last year"

TheRealDeal reports, "on the heels of its first cash-flow positive quarter as a public company, Compass is taking a big bite out of the Central Texas resi market. 

The firm has acquired Realty Austin and Realty San Antonio, an independent brokerage that posted $5.24 billion in sales last year. With the purchase, Compass expands its Texas headcount by about 630 agents and absorbs one of the region’s top brokerages. The sale price was not disclosed. 

Local leadership will stay in control of day-to-day operations, according to a news release. The Realty brokerages are led by Gabe Richter and were co-founded by Jonathan Boatwright and Yvette Flores. 

The firms said they expect Compass’ technology will help Realty Austin and Realty San Antonio get…

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"Austin boasts some of the biggest houses in the country, new ranking shows"

CultureMap Austin writes "If everything’s bigger in Texas, that should include our homes, right? Well, a new study shows homes in the Lone Star State are among the biggest in the country — but not the biggest.

Texas appears at No. 11 on American Home Shield’s list of the states with the biggest houses. In Texas, the average home is 2,170 square feet, well behind top-ranked Utah (2,800 square feet).

But don’t despair, fellow Texans. Six Texas cities, including Austin, land on American Home Shield’s list of the top 20 major cities for home size. This list looks at average home sizes in the country’s 50 largest cities.

After reviewing more than 500,000 U.S. home listings from Zillow, American Home Shield concluded that Austin's average home…

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"Crane Watch: More condos to rise in S. Austin; More warehouses slated for I-35 corridor"

According to Austin Business Journal, "There’s another industrial development sprouting in the fertile I-35 corridor.

Mississippi-based EastGroup Properties Inc. broke ground Sept. 12 on Stonefield 35, a 275,559-square-foot project in Buda, the company announced Sept. 22. The development comes amid impressive growth, especially for industrial space, in the corridor between Austin and San Antonio.

The development will be built on about 21 acres at the northeast corner of I-35 and Robert S. Light Boulevard. EastGroup is constructing three buildings with varied dimensions.

The largest building will be 148,233 square feet and equipped with 51 dock doors and two ramps, according to marketing material. The building will have 195 parking spaces.

…

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Forecast shows Austin-area population could surpass San Antonio by 2040

No one can gaze into a crystal ball and tell us what the population of the Austin metro area will be two decades from now. Forecasts from professional prognosticators give us a pretty good idea, though.

A CultureMap analysis of the most recent population projections from the Texas Water Development Board, a government agency that helps manage the state’s water supply, shows the Austin area may enter eye-popping territory by 2040. The analysis indicates the population of the Austin metro area will exceed the population of the now-larger San Antonio metro area in just 18 years.

Based on the water board’s county-by-county outlook for Texas, the population of the five-county Austin area will reach 3,340,450 in 2040. By comparison, the population of…

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Austin company taking tiny home rentals to San Antonio

Austin-based Casata Corp., a developer of small home rental communities, is turning its gaze on San Antonio as it expands across the rest of Texas.

The company, founded in 2020 by developer Aaron Levy, is scouting five locations around San Antonio for a 200-unit community of built-to-rent homes with floor plans ranging between 400 and 800 square feet.

"We like cities where jobs are being created," Chief Operating Officer Zain Mahmood told San Antonio Business Journal.

The company also looks at the entertainment and shopping options nearby.

Mahmood, who was introduced to Levy through mutual friends and brought on as co-founder, said that when the group set up its pilot project, Casata Austin, the community was 82% leased before construction…

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