Luxe Austin Homes - suburbs

"Austin metro's home price is flat for the first time since 2019, report says"

Culturemap Austin writes, "The Austin housing market is normalizing, and for the first time since before the pandemic, metro home prices are not on the rise.

According to the Austin Board of Realtors' latest monthly report, November 2022 marked the first time since February 2019 that the median home price for the Austin-Round Rock metro area was flat. The metro's median registered at $467,955 last month, the same as November 2021, meaning 0 percent year-over-year growth.

At the same time, housing inventory nearly quadrupled from last year, to 3.1 months at the metro level, and the average time spent on the market grew to a whopping 58 days, leading to further market stabilization.

At the city level, Austin actually saw a drop in its median…

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"CLD Realty proposes $8M retail complex in Austin ’burb"

TheRealDeal writes, "a retail center serving two master-planned communities is on the way in the Austin suburb of Buda.

CLD Realty has proposed building seven one-story buildings with retail and restaurant space on a 5.7-acre site at 2260 Main Street, the Austin Business Journal reported. Dubbed Corner on Main, the development is currently under review by the City of Buda.

The 48,000-square-foot complex would cost about $8 million, and construction is scheduled to begin in March next year.

“We are looking for neighborhood services that seek to take advantage of the tremendous growth in east Buda and the Sunfield community, Ryder Jeanes with CLD Realty, told the outlet in an email. He said the firm will consider tenants like restaurants and…

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"Lennar, Icon reveal location of 3D-printed neighborhood north of Austin"

Austin Business Journal reports, "an Austin-based 3D-printed housing startup and one of the country's largest homebuilders have identified the location of their long-anticipated 100-home community in the region's suburbs.

Icon Technology Inc. and Lennar Home Corp. on Nov. 10 revealed that the startup's first foray into the volume homebuilding game will be the Genesis Collection at the Wolf Ranch master-planned community west of I-35 along U.S. Highway 29 in Georgetown, about 30 miles north of Austin. Construction is underway and reservations will begin next year, with prices expected to start in the mid-$400,000s.

"For the first time in the history of the world, what we’re witnessing here is a fleet of robots building an entire community of…

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"Austin homebuyers regain power as active listings reach decade-plus high"

Austin Business Journal reports, "there's more evidence that Austin's housing market is correcting itself after years of overheating.

The Austin Board of Realtors'latest housing market datafound that September saw 9,671 active listings on the market — the most since 9,909 in July 2011 — and total inventory hit 3.1 months for the first time since July 2017. Median home sales prices also dropped more than $25,000 from August, helping the city push back on what's widely considered the biggest threat to the economy: affordability.

Though 3.1 months of inventory isn’t enough to transform Austin into a buyer’s market, there are winds of change.

“Homebuyers have not had this much leverage and this many options in over a decade,” ABOR President Cord…

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"No longer ‘frantic’: Number of homes for sale in Austin metro highest in more than a decade"

AUSTIN (KXAN) — "The number of homes for sale in the Austin metro area is the highest in more than a decade.

A total of 9,671 homes were actively listed in September across the five-county area — the highest number since July 2011, according to the September housing report from the Austin Board of Realtors.

The number of active listings is up more than 160% over last September.

Meanwhile, home sales declined in September. Just less than 3,000 homes were sold last month, down 18.5% year-over-year.

“Homebuyers no longer need to move at a frantic pace to find a home,” said ABoR President Cord Shiflet. “There are more homes to choose from and more time to find a home that works for their needs and budget.”

The median home price across the…

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"Is the Rental Market Beginning To Normalize? Priced-Out Tenants Sure Hope So"

Realtor.com writes, "renters haven’t had much good news lately as landlords have jacked up monthly rents to previously unthinkable amounts across the country.

However, the rental market may be returning to something more seemingly normal. In September, the median monthly rent in the 50 largest U.S. metropolitan areas dropped for a second straight month, to $1,759, according to a recent report from Realtor.com®. That’s $12 lower than last month and a $22 drop from the peak in July.

Rents were still up 7.8% from September of last year. However, it’s the lowest year-over-year price increase since May 2021.

The report looked at apartments, condos, townhomes, and single-family homes advertised for rent in September on Realtor.com in the 50 largest…

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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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"It’s the perfect starter home. But it’s only for rent."

"Adam and Tahnya Gaston arrived in this Austin suburb in June with a toddler, a dog and enough money for a down payment. But within days they scrapped their plans for buying a house, deterred by soaring home prices and rising mortgage rates. Instead, they’re paying $4,000 a month to lease a three-story house in a new development aimed squarely at renters.

As the housing market sours, families around the country are eschewing homeownership and turning instead to new homes in rental-only developments such as the one where the Gastons landed. When completed, the Oaks on Chisholm Trail will have 113 stand-alone homes, each with a kitchen island, two-car garage and tiny plot of lawn — all exclusively for rent.

It’s one of…

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"Phoenix real estate firm on a roll in Austin area, with another home rental community planned"

According to the Austin Business Journal, "A Phoenix-based builder of rental homes is increasing its investment in the Austin area to $164 million with its latest land purchase.

NexMetro Communities LLC announced Sept. 16 the purchase of 25 acres in Liberty Hill, where the company will construct a neighborhood of 260 single-family rental homes called Avilla Rio Oaks. It will join two other NexMetro projects in the works for in the suburbs around Austin; the company already announced another in Liberty Hill and an additional community in Georgetown.

"NexMetro is actively seeking new sites ideal for our luxury leased Avilla Homes neighborhoods in multiple Austin submarkets," stated Jason Flory, managing director of NexMetro's Austin division.…

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5 Austin suburbs that unlock affordable homes for first-time buyers

Any hopes of ever buying an “affordable” house in the city of Austin are quickly fading, especially for first-time homebuyers.

In January 2022, the median sale price of a home within the city limits climbed to $550,000, up 20.9 percent from the same time a year earlier, according to the Austin Board of Realtors. Even the median sale price for the entire Austin metro area is increasingly out of reach for many first-time homebuyers — $476,000 in January 2022, up 30.4 percent from a year earlier.

However, some Austin suburbs enable first-time buyers to get more bang for the buck. While they might be a fair distance from Austin itself, a number of suburbs offer home prices at least $100,000 below the region’s median price.

In alphabetical order,…

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