What a year 2016 has been! What stands out to you from the year now almost behind us? With the year coming to a close, I wanted to take a look back on the most memorable, controversial and newsworthy stories in Austin for 2016. Here are five…
In an event that hosted likely the most famous visitor to Austin this year and the cause of the most traffic gridlock in one day, President Obama visits SXSW in March to talk tech and how that industry can help solve some of our nations problems (LINK). First Lady Michelle Obama also was there to talk female empowerment and to promoter her “Let Girls Learn” initiative (LINK)
In the most publicized local political story of the year, Uber & Lyft leave Austin in May after losing the Prop. 1 Referendum. This allows numerous Austin start-ups to take over the unregulated ridesharing market in town (LINK) Uber & Lyft met with city council staffers in August as a first step towards trying to bring their services back to town but no resolution has happened yet (LINK)
In probably the most controversial Austin story of the year, local Austinite, Jordan Brown, drew national attention when he sued Whole Foods for allegedly writing an anti-gay slur on a cake he ordered from its bakery. Whole Foods responded swiftly denying Brown’s story and releasing a video contradicting his claim. Brown quickly dropped his suit and the grocer dropped its counter-suit (LINK).
Odds are pretty good you know someone directly affected by this next piece of news. Dell merges with EMC in September in a deal worth $58 Billion. The now combined companies are Central Texas’ largest private employer with some 140,000 employees (LINK)
The most recurring piece of news for Austin this year (and the last number of years) is the 157 people per day who moved to the Austin area mid-2014 to mid-2015 (LINK). Austin’s growth ranks No. 2 nationwide for cities of at least 500,000 people, but the suburbs are actually growing much swifter (LINK)
What stands out to you from 2016? Please share with me because it’s more interesting when I hear from a voice not in my head.
And Three Bonus Stories…
In news that matters more than anything else to a lot of people in Austin, Tom Herman becomes the new head coach of the Texas Longhorns. Charlie Strong is Fired (LINK).
Perhaps the saddest news of the year was the tragic death of 16 people in a hot air balloon crash in Lockhart (LINK)
Water levels in local lakes continue to rise and recover from lows during the recent drought. In November, Lake Travis was the highest it had been in 8 years (LINK) and some lakes had to close to recreational boating because they were too high (LINK)!
PS: I started a new YouTube channel called Real Estate. Real Answers. which gives honest answers to real estate questions. PLEASE take a moment to check it out and SUBSCRIBE because I guarantee you’ll come across someone in 2017 who is thinking of buying or selling and could use these answers!
In Williamson County, which includes Round Rock, Georgetown and most of Cedar Park and Leander, home prices rose 6.6 percent versus last July to $262,000 and home sales volume decreased by 6.5. On average, homes spent two days fewer on the market and the housing inventory declined slightly to 2.4 months.
What do these numbers mean? Well, home prices in Central Austin will continue to push home buyers to places like Round Rock and Cedar Park as affordability becomes a serious issue in Austin. Home values should continue to grow, inventory should stay very low and I would expect that any significant slowing in the market would be seen in Austin before Williamson County.
If you want to know more about the Austin market, you can visit this other post and if you are thinking of selling your home in Williamson County and want more information on how this information is affecting your neighborhood or home in particular, drop me a note or call me and I’d be happy to help!
The Austin Board of Realtors just released the official numbers for the month of July and in the City of Austin, the average sales price hit $345,000 in July 2016, a 4.6 percent increase from last year, while the number of homes sold in July declined by 7.3 percent. Housing inventory rose slightly from 2.1 months in July 2015 to 2.4 months in July 2016 and homes spent four more days on the market than the previous year.
What do those numbers mean? Well, home values in Central Texas continue to increase, which is great news for homeowners, but I believe those rising prices are starting to have cooling effect on the number of homes sold because of affordability. Home buyers, especially first time home buyers are being pushed further and further from Central Austin because they can’t afford the high prices. This will effect demand in Austin which should slow rising home values in Austin.
If you want to know more about the market in Williamson County, check out this post. If you have any questions about real estate or are thinking of buying a home, drop me a note or call me and I’d be happy to help!
The Austin Board of Realtors recently finalized their numbers for September and those numbers bring more good news for the overall health of the Austin area housing market. In the Austin
area, 2,391 single-family homes were sold in September, a 34% increase vs 2012 and the most sales for September since 2005! The number of days a home was on the market in the Austin area in September was down 22% vs last September and sold in only 44 days. The median sales price this September rose more than 13% from last year to $223,000.
Almost more significant are the statistics surrounding the Austin areas housing inventory and will have a impact as we close out the year. This September, Austin had 2,487 new single-family homes come on the market, 17% more than last September, and a total of just under 6,000 total active single-family home listings, 12% less than last year this same month. All of this results in 2.7 months supply of single-family homes, 1 month less than September 2012. In a market balanced between supply and demand, there is about 6.5 months of supply. At only 2.7 months supply, Austin’s market continues to be a strong seller’s market and is desperate for new listings!
If you would like information specific to your neighborhood, drop me a note and I would be happy to help. If you are considering selling your home and taking advantage of this great seller’s market, let me know and I would love to discuss how I can help sell your home for the highest net to you!
The Austin Board of Realtors recently released the finalized statistics for March 2013 which now gives us a complete look at the Austin real estate market for the first quarter (Q1, January – March). This is a quick look at how Q1 compares to the same time period last year and an update on the Austin market as a whole.
In Q1 of 2013, 2736 homes sold within the Austin city limits. This represents a 20.3% increase versus Q1 of 2012, when only 2275 homes were sold. The average sales price in Austin also grew 8.6% to $321,912 and the average price per square foot rose 10% to $159.50. While prices rose, the average time it took a house to sell in Austin declined 28.8%. The average home in Austin sold in 52 days, 21 days less than during the same time period in 2012.
While the data from home sales give a clear picture of the strength of the Austin market, the number of active listings shows that these trends will likely continue for the foreseeable future. The number of homes for sale in Austin was only 5355 in March. This is a 29.5% decrease versus 2012. With over 1200 people moving to Austin every week, demand continues to strengthen and is driving prices even higher as available inventory continues to shrink. This graph is shows the long term trend in Austin.
Though the overall market is very strong, home values and market activity can change from subdivision to subdivision or even street to street. If you are considering selling your home this year, drop me a note and we can discuss the value of your home and how I can help you get the most equity possible as you look to move out or move up to another home.
How was the Real Estate Market in Austin for 2012?
The real estate market in Austin, TX saw incredible growth in 2012. After an extremely busing January, I finally had time to put this information together and wanted to get it out as soon as I could with it being late already. The graph below gives a good summary of most of the information I have put together.
In 2012, the number of homes sold increased 19% to 10,406 from only 8738 in 2011. The average sales price increase was equally as impressive – in 2012 the average sale price was $342,206 versus $320,868 in 2011, a 6.7% increase. In 2012, the average price per square foot grew to $145.72, a 5.9% increase from the $137.58 average price per square foot from 2011. While each of these numbers illustrate the rapid change in the Austin real estate market in 2012, none are quite as significant as the average time a home was on the market before it sold. The average days on market shrunk to only 52 days in 2012, a 27% decrease from the average 71 days in 2011.
What do these numbers mean for you if you are looking to buy or sell a home in Austin in 2013? If you are looking to buy a home, home prices are rising and inventory is shrinking, meaning that you might pay more than in 2012 and have less options. Because homes are selling more quickly, you should also move fast to put a strong offer in once you have found a home you really like.
If you potentially looking to sell you home in Austin this year, your equity has likely grown and there is likely a strong demand for your home. You have chosen a great time to sell! Drop me a note to learn about how my progressive marketing plan can go to work for you!
P. Terry’s Burger Stand is planning two new locations in Northwest Austin, both to be opened by this summer. Construction is already under way for the first location at the corner of MoPac and Cedar Bend Dr, by St. David’s North Austin Medical Center, just south of
Parmer Ln. That store will be the largest P. Terry’s yet, with a double drive thru and an outdoor patio that is over 1,000 sqft.
The second P. Terry’s in Northwest Austin will be at Hwy 183 and Oak Knoll, but the Catfish Parlor and is scheduled to have construction begin this summer and be open in the fall.
Founder Patrick Terry says, “We’re delighted to head north.” I think that it is safe to say their customers are delighted as well! For more information, see the article in the Community Impact Newspaper or Click Here.
Interested in living in Northwest Austin have questions on the real estate market in the Greater Austin area? Drop me a note or call/text me at 512.636.9707.