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!