Luxe Austin Homes - TX

More than 1,000 homes planned for $500M vineyard development in Florence

A Dallas-based real estate developer has partnered with the owners of a winery and resort north of Austin to add more than 1,000 Tuscan-style luxury homes on the 600-acre scenic property in the Hill Country.

Since August 2021, representatives for Hoque Global LLC said they've been marketing and selling one-acre to three-acre estate home lots at a "brisk pace" at the Vineyard at Florence, a neighborhood modeled after the Italian countryside. It will spring up about 45 miles north of Austin near the northernmost end of Williamson County.

In total, the company has plans for 1,000-plus additional lots on the property, which also includes the vineyard, as well as a boutique hotel and restaurant. The full build out of the hospitality and residential…

609 Views, 0 Comments

City of Austin home price hits record $667,000 as number of homes for sale soars

Once again, the city of Austin's median home price has risen to a new record high.

According to the latest monthly report from the Austin Board of Realtors, the median price in the city limits soared to $667,000 in May 2022, representing an 18.1 percent increase from May 2021 and a significant jump from April 2022, when it hit $640,000. 

While the Austin-Round Rock metro area's median home price held steady in May ($550,000, the same figure as April 2022, ABoR reports), home prices in all five counties in the region continued to climb. Travis County recorded a median home price of $659,000, up more than 21 percent from a year ago.

But prices weren't the only thing on the rise. In a bit of good news, the Austin market saw active listings grow…

461 Views, 0 Comments

Study: This Austin-area city has one of the ‘hottest ZIP codes’ for real estate in the US

LEANDER, Texas — In a real estate market with skyrocketing active listings, Leander’s 78641 ZIP code ranked as one of the “hottest” areas to call home.

Opendoor released a list Tuesday with the 20 “hottest ZIP codes” in the country in the first half of 2022. Leander ranked No. 6 in the list of 20 areas across the U.S.

The ranking used Multiple Listing Services data where Opendoor brokerages operate and ranked ZIP codes by the total number of homes in 2022 that went into contract within 90 days of listing, according to a release.

The top 10 ZIPs include:

1. Clarksville, Tennessee: 37042
2. Celebration, Florida: 34747
3. Yukon, Oklahoma: 73099
4. New Braunfels, Texas: 78130
5. Loganville, Georgia: 30052
6. Leander, Texas: 78641
7. Katy,…

438 Views, 0 Comments

That Austin housing bust? Not likely.

Texas’ capital city saw an increase in homes for sale in May, with dollar volume increasing while the median price held steady.

The Austin-Round Rock area had enough inventory on the market to last 1.2 months, according to the monthly Central Texas Housing Market Report by the Austin Board of Realtors. The median sales price remained at the record-setting $550,000 it hit in April, a 19 percent increase over April 2021.

Active listings were way up — 146 percent higher than last year, to 4,173 — and new listings increased 18.8 percent over last year, to 5,231.

Area residential sales were on the downslide, declining 7 percent year over year to 3,633, but sales dollar volume for the month was $2.4 billion — 9 percent higher than in May 2021.…

403 Views, 0 Comments

A&M Economist: Austin's real estate market 'beginning to normalize'

Active listings in Austin swelled by nearly 150% May 2021-2022 as the region begins to recover from the "dangerously low" housing inventory of the pandemic housing frenzy, according to the latest Austin Board of Realtors report.

For the first time since September 2020, the metro saw 1.2 months of available inventory, up from a critically low 0.4 months in early 2020. Still, median home prices continued their ascent and increased almost 20% year-over-year to tie April's record of $550,000.

While Austin's housing market has seen some signs of decline—residential home sales declined 6.7% year-over-year—available homes still spent 15 days on the market, a day less than May 2021. Texas A&M University research economist Adam Perdue said that while a…

418 Views, 0 Comments

Austin near top of the heap for equity-rich metros

Rising home prices have made Austin one of the most equity-rich markets in the nation, according to a recent report. 

Of the 107 U.S. metros with populations greater than 500,000, Austin ranked No. 2 for equity-rich properties, according to Attom Data Solution's first-quarter 2022 U.S. Home Equity & Underwater Report. For Attom, equity rich means that the combined estimated amount of loan balances secured by a property was no more than 50% of the home’s estimated market value.

"Homeowners continue to benefit from rising home prices," stated Rick Sharga, executive vice president of market intelligence for Attom. "Record levels of home equity provide financial security for millions of families, and minimize the chance of another housing market…

393 Views, 0 Comments

The Fed raises rates by 0.75%: Its inflation battle continues

The Fed raises rates by 0.75% and improves its inflation-fighting credibility

As expected, the Federal Reserve today raised rates by 0.75%, its largest increase in 28 years, bringing the federal funds rate to around 1.50%. Of note, Fed Chair Jerome Powell highlighted in his comments that the FOMC's primary focus currently is on bringing down inflation in a "clear and convincing" manner over the next few months.

The markets welcomed this rate hike as a signal of credibility in the Fed's inflation-fighting mandate and a step in the right direction toward bringing interest rates back to more neutral territory. The S&P 500 headed higher by over 1.0% on the back of this move, while the tech-heavy Nasdaq was higher by over 2.0%. Chair Powell did note…

420 Views, 0 Comments

Downtown Austin’s population popped 79 percent from 2010 to 2020, report says

A new report demonstrates that downtown Austin isn’t just for workers, tourists, partiers, and diners anymore.

The population of downtown Austin has surged from 4,222 in 1990 and 7,635 in 2010 to 13,648 in 2020, according to the report, released by the Downtown Austin Alliance. That translates into a 223 percent population spike between 1990 and 2020 and a 79 percent jump from 2010 to 2020.

Today, the population of downtown Austin roughly equates to the population of Manor, a Travis County suburb.

To accommodate the escalating population of downtown Austin, real estate developers have bulked up the housing supply there.

In 1990, just 948 housing units were located downtown, according to the report. That number grew to 5,670 in 2010 and…

487 Views, 0 Comments

​For Sale: 5 Austin homes with spectacular heat-beating swimming pools

Temperatures in Austin are projected to reach triple digits nearly every day this week, so strap in for a sweaty summer.

But it doesn't have to be miserable if you have a pool to beat the heat. These homes on the market offer a private oasis much-needed this time of year.

2302 Lancaster Dr. | $799,000

Newly-renovated and back on the market, this 1975 build has been fitted with updated finishes while retaining its retro charm. An open floor plan and high ceilings allow for tons of natural light, the kitchen is complete with all-new fixtures, a focal-point fireplace for the winter months, and a round backyard pool and patio combo for the stifling heat.

4 bedroom, 2 bathroom | 1,844 square feet

6708 Mitra Dr. | $1,395,000

383 Views, 0 Comments

Real estate company with Bee Cave office debuts on Fortune 500

Real estate company Compass debuted on the Fortune 500 alongside companies such as Apple, American Express and others in May. The business has 67 markets, over 300 offices and over 25,000 agents who assist in home buying and selling nationwide, including The Grossman & Jones Group in Bee Cave, which is recognized as the No. 1 team at Compass Austin, according to a press release. Compass launched in 2012 and provides personalized attention throughout the buying and selling process as well as continuing support after the transactions, according to the business. It is located at 12117 Bee Caves Road, Bldg. 3, Ste. 180, Bee Cave. 512-470-3173. www.compass.com/agents/grossman-jones-group

Source: Community Impact Newspaper

346 Views, 0 Comments