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March 2020 Central Texas Housing Market Report

Austin area home sales hold steady in March

Central Texas REALTORS® remain cautiously optimistic during COVID-19 pandemic

AUSTIN, Texas – Local shelter-in-place orders that went into effect on March 24 had little impact on March home sales, according to the Austin Board of REALTORS® (ABoR) latest Central Texas Housing Market Report.

In March, residential sales in the five-county Metropolitan Statistical Area (MSA) increased 2.2% year over year to 3,042 sales and median price jumped 11.7% year over year to $335,200. Monthly housing inventory declined 0.7 months year over year to 1.6 months of inventory, and average days on market decreased from 65 days to 54 days.

“For most of March, it was still ‘business as usual,’ and REALTORS® adapted early to continue serving homebuyers and sellers safely,” Romeo Manzanilla, 2020 ABoR president, said. “Declines in listing activity and pending residential sales in March indicate that we won’t begin to see the true impact of COVID-19 on the housing market until our April report.”

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Last month, new listings decreased 12.7% to 3,770 listings; active listings dropped 26.6% to 4,908 listings; and pending sales decreased 19.2% to 2,852 pending sales.

Although COVID-19 has shifted the way real estate business is conducted, closings and home sales have not been negatively impacted thus far, Lea Holubec, senior vice president of education and training for Heritage Title of Austin, said.

“The approach to closing a home looks very different right now, but activity has not dipped,” Holubec said. “Homebuyers should be prepared for the closing process to take longer than usual due to COVID-19 safety precautions and be ready for additional employment verifications at closing, or even after closing, which many lenders are now requiring.”

“Like REALTORS®, sellers should remain cautiously optimistic during this time. Austin-area homebuyers are still looking to buy homes, and fewer homes on the market means stronger demand and increased visibility for your property,” Manzanilla said. “Despite the challenges of COVID-19, we’re still in a seller’s market and sellers should be encouraged to list their homes.”

City of Austin

In March, the median price for residential homes in the city of Austin rose 14% year over year to $415,000, an all-time high for any month on record. Residential home sales remained flat at 985 sales, while total sales dollar volume experienced a double-digit increase of 11.2% year over year to $503,132,316 last month. During the same period, new listings decreased 7.5% to 1,299 listings; active listings dropped 27.8% to 1,237 listings; and pending sales dipped 18.3% to 922 pending sales. Monthly housing inventory decreased 0.5 months year over year to 1.2 months of inventory.

Travis County

At the county level, residential home sales slightly increased 0.4% to 1,545 sales and sales dollar volume increased 11.8% to $783,614,704. The median price for residential homes jumped 15.1% year over year to $397,250. During the same period, new listings decreased 12.6% to 2,004 listings; active listings decreased 30.5% to 2,277 listings; and pending sales decreased 22.6% to 1,393 pending sales. Monthly housing inventory decreased 0.7 months year over year to 1.4 months of inventory.

Williamson County

In Williamson County, March residential home sales increased 0.4% to 1,007 sales and sales dollar volume increased 5.2% to $327,850,432. The median price for residential homes increased by 6.8% to $293,805. New listings declined 11% to 1,202 listings and active listings dropped 28.8% to 1,520 listings. Pending sales decreased 19.9% to 976 pending sales and housing inventory declined 0.8 months year over year to 1.5 months of inventory.

Hays County

In March, Hays County residential home sales increased 16.5% to 381 sales and sales dollar volume jumped 29% to $133,789,771. The median price for residential homes increased by 11.8% to $285,000. During the same period, new listings decreased 17.6% to 404 listings and active listings dropped 21.3% to 704 listings. Pending sales slightly decreased 6% to 359 pending sales. Housing inventory decreased 0.8 months to 2.1 months of inventory.

Bastrop County

In Bastrop County, residential home sales remained flat at 77 home sales, while sales dollar volume increased 13.7% to $20,306,295. The median price for residential homes slightly increased 3.7% to $239,950. During the same period, new listings spiked 27.8% to 124 listings; active listings rose 16.1% to 324 listings; and pending sales jumped 20.7% to 105 pending sales. Housing inventory decreased 0.1 months to 3.3 months of inventory.

Caldwell County

In Caldwell County, March residential home sales remained flat at 29 sales, while sales dollar volume spiked 33.8% to $8,153,889. The median home price increased 18.7% year over year to $237,450. During the same period, new listings decreased 23.3% to 33 listings, while active listings increased 15.6% to 89 listings. Pending sales dropped 21.9% to 25 pending sales. Housing inventory rose 0.1 months to 3.4 months of inventory.

For more information, and to download the March 2020 Central Texas Housing Market Report, visit https://www.abor.com/statsmar20/. All information taken from the Austin Board of Realtors March 2020 Central Texas Housing Market Report,

 

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Protecting Your Family | COVID-19

Protecting yourself and those you care about is very important during this pandemic. You can plan and make decisions now that will protect you and your family during a COVID-19 outbreak. Directly from the CDC, here are the best practices and direction to stay safe. 

Stay informed and in touch

  • Get up-to-date information about local COVID-19 activity from public health officials
  • Ask your neighbors what their plan includes.
  • Create a list of local organizations you and your household can contact in case you need access to information, healthcare services, support, and resources.
  • Create an emergency contact list including family, friends, neighbors, carpool drivers, healthcare providers, teachers, employers, the local public health department, and other community resources.

Prepare for possible illness

Take everyday preventive steps

  • Wash your hands frequently
  • Avoid touching your eyes, nose, and mouth.
  • Stay home when you are sick.
  • Cover your cough or sneeze with a tissue, then throw the tissue in the trash.
  • Clean and disinfect frequently touched objects and surfaces
  • Be prepared if your child’s school or childcare facility is temporarily dismissed or for potential changes at your workplace.

Watch for symptoms

  • Stay home and speak to your healthcare provider if you develop any of these symptoms:
    • Fever or
    • Cough or
    • Shortness of breath
  • If you develop emergency warning signs for COVID-19 get medical attention immediately
  • Emergency warning signs include*:
    • Trouble breathing
    • Persistent pain or pressure in the chest
    • New confusion or inability to arouse
    • Bluish lips or face

*This list is not all inclusive. Please consult your medical provider for any other symptoms that are severe or concerning.

  • Keep away from others who are sick
  • Limit close contact with others as much as possible (about 6 feet)

If someone in your home is sick

  • Continue to practice everyday preventive actions
  • Keep the ill person in a separate room from others in the household
  • If caring for a sick household member, follow recommended precautions and monitor your own health
  • Keep surfaces disinfected
  • Avoid sharing personal items
  • If you become sick, stay in contact with others by phone or email
  • Stay informed about the local outbreak situation
  • Notify your work if your schedule needs to change
  • Take care of the emotional health of your household members, including yourself

Those at higher risk of severe illness

Take additional precautions for those at higher risk, particularly older adults and those who have severe underlying health conditions.

  • Consider staying at home and away from crowds
  • Make sure you have access to several weeks of medications and supplies in case you need to stay home
  • When you go out in public, keep away from others who are sick and limit close contact with others
  • Practice good hand hygiene
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Austin Counts – 2020 Census

Why the Census Matters

The census is a population count required by the U.S. Constitution once every 10 years, to count every resident – regardless of origin or legal status – in the United States. The census counts everyone living in the country in order to provide an accurate population count that is used as the basis for reapportioning congressional seats, redistricting at all governmental levels, and determining how to distribute more than $675 billion in federal funding annually among the states and communities for the next 10 years. These federal dollars support our local schools, healthcare services, transportation infrastructure and systems, and much more.

Data from the 2020 census will set the foundation for important federal, state, and local changes that will impact REALTORS® for the next decade.

What’s at Risk?

Being undercounted by even one percent in 2020 is estimated to cost Texas at least $300 million a year in lost federal funding. The United Way of Greater Austin estimates that in Central Texas, a one percent undercount of the population could translate to $25 million in lost revenue per year. That means Central Texas could lose at least $250 million in federal funding over the next 10 years.

“If you’re marketing your town as a great place to live with plenty of reliable services and amenities, the 2020 census should matter to you.” – National Association of REALTORS®

Here’s What You Need to Know

Three Ways to Respond

By April 1, 2020, every home will receive an invitation to participate in the 2020 Census. You will have three options for responding:

  • Online.
  • By phone.
  • By mail.

In mid-March, households will begin receiving official Census Bureau mail with detailed information on how to respond to the 2020 Census. Taking the Census is easy, learn more about completing the 2020 Census.

What to Expect

🗓️ March 12–20: Invitations Mailed. An invitation to complete the 2020 Census online will be mailed to every household.

🗓️ March 16–24: Reminder Letters. A reminder letter will be mailed to complete the 2020 Census.

If you haven’t responded yet:

🗓️ March 26–April 3: Reminder Postcards. A reminder postcard will be mailed.

🗓️ April 8–16: Hard Copy Census Mailed. Another reminder letter and paper questionnaire will be mailed.

🗓️ April 20–27: Final Postcards Mailed. A final reminder postcard will be mailed before an in-person follow-up.

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Be the Source of the Source

Learn more about the 2020 U.S. Census by visiting 2020Census.gov. Get the facts, learn how to respond, understand why your response matters, take the pledge, and learn how you can help get a complete and accurate count.

Get involved locally through the Austin-Travis County Census 2020 efforts to achieve a full and complete count for Central Texas. Learn how the 2020 Census could impact your community and how you can get involved in your neighborhood to help get a complete count.

All information taken from the Austin Board of Realtors 2020 Census Guide for the Austin area.

 

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February 2020 Central Texas Housing Market Report

February housing sales strong, REALTORS® adapt amid COVID-19

Historically low interest rates add another variable to housing market

AUSTIN, Texas – The Austin Board of REALTORS® (ABoR) February 2020 market analysis showed a 6.8% increase in residential home sales in the Austin-Round Rock Metropolitan Statistical Area (MSA) and a 12.8% increase in median sales price to $327,140. While sales increased from 2,363 homes in February 2019 to 2,524 homes last month, new listings decreased 11.8% year-over-year, and inventory dropped to 1.5 months of inventory, painting the picture of Austin’s historically competitive housing market and high demand. With the impact of COVID-19 beginning to take hold, it’s uncertain how social distancing will affect the way the market continues to operate.

“Historically low interest rates are a driver in the market response we saw in February and will continue to act as a driver despite our shared concerns over the impact of COVID-19 in our community,” Romeo Manzanilla, 2020 ABoR president, said.

Manzanilla said there are a number of tools and best practices that ensure REALTORS® can continue to serve Central Texas home buyers and sellers safely as we all make changes to accommodate the Center for Disease Control’s guidelines.

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“REALTORS® will work to provide a new homebuying and selling experience in these times. Expanded visual libraries, interactive floor plans and virtual tours are tools that matter more than ever in this climate. The housing market is absolutely still open for business, but the business of real estate is evolving like we all are through this experience,” Manzanilla concluded.

Austin’s economy and housing market could be well positioned to minimize the potentially negative impact of COVID-19, Mark Sprague, state director of information capital for Independence Title, said.

“Austin’s economy has diversified and strengthened over the past two decades. This leads me to be optimistic that our region is in a strong position to withstand economic downturns that may have a greater impact nationally,” Sprague said. “Effects will still be felt, especially by those who depend on each paycheck to pay their bills and provide for their families, and that cannot be discounted.”

According to Sprague, despite the current uncertainty, buyers are still eager to close sales in Austin.

 

“Current indicators are that Austin’s housing market remains strong and competitive. Any decrease in inventory would only increase competitiveness in our market. Overall, Austin’s economy and housing market look to be resilient during this uncertain time. Once COVID-19 subsides, there is a potential for even more investment by employers in the Austin market, and I would expect those looking for a more affordable cost of living compared to other major U.S. metropolitan areas will still look to move to and buy homes in Austin,” he concluded.

Austin-Round Rock MSA

In the Austin-Round Rock MSA, the median sales price for February 2020 was $327,140, an increase of 12.8% from February 2019. February residential home sales dollar volume increased 21% to $1,027,245,686. During the same period, new listings decreased 11.8% to 2,925 listings, and active listings decreased 29.4% to 4,534 listings. However, pending sales jumped 10.9% to 3,137 pending sales. Monthly housing inventory declined 0.7 months year over year to 1.5 months of inventory. Across the five-county MSA there were 2,524 closed sales.

 

City of Austin

High demand across the city and limited inventory pushed the median price for residential homes to $395,000, a 14% increase from February 2019. Residential home sales increased 3.3% to 857 sales and total sales dollar volume increased by 18.1% year over year to $417,071,623 last month. During the same period, new listings decreased 5.6% to 1,032 listings; active listings dropped 34% to 1,072 listings; however, pending sales rose 4.5% to 999 pending sales. Monthly housing inventory decreased 0.6 months year over year to 1.0 month of inventory.

Travis County

At the county level, residential home sales increased 8.8% to 1,301 sales and sales dollar volume increased by 22% to $613,634,673. The median price for residential homes increased 13.2% year over year to $376,500. During the same period, new listings decreased 13.6% to 1,550 listings, while active listings decreased 35% to 2,022 listings. However, pending sales increased 9.4% to 1,615 pending sales. Monthly housing inventory decreased 0.7 months year over year to 1.3 months of inventory.

 

Williamson County

In Williamson County, February residential home sales increased 4.7% to 851 sales; sales dollar volume experienced a double-digit increase of 13.3% to $277,257,487. The median price for residential homes increased by 6.8% to $293,600. New listings declined 16.9% to 863 listings, while active listings decreased 33.7% to 1,398 listings. Pending sales increased 7.1% to 991 pending sales and housing inventory declined 0.9 months year over year to 1.4 months of inventory.

Hays County

In February, Hays County residential home sales increased 3.9% to 270 sales and sales dollar volume jumped 37.6% to $110,763,712. The median price for residential homes increased by 9.6% to $285,000. During the same period, new listings decreased 4.4% to 351 listings and active listings dropped 17.6% to 700 listings. Pending sales spiked 23.7% to 397 pending sales. Housing inventory decreased 0.7 months to 2.1 months of inventory.

Bastrop County

 

In Bastrop County, residential home sales remained flat at 77 home sales, while sales dollar volume increased 13.7% to $20,306,295. The median price for residential homes slightly increased 3.7% to $239,950. During the same period, new listings spiked 27.8% to 124 listings; active listings rose 16.1% to 324 listings; and pending sales jumped 20.7% to 105 pending sales. Housing inventory decreased 0.1 months to 3.3 months of inventory.

Caldwell County

In Caldwell County, February residential home sales spiked 47.1% to 25 sales, and sales dollar volume jumped 40.4% to $5,379,315. The median home price decreased 9.6% year over year to $201,000. During the same period, new listings spiked 85% to 37 listings; active listings increased 18.4% to 90 listings; and pending sales rose by 38.1% to 29 pending sales. Housing inventory rose 0.3 months to 3.5 months of inventory.

For more information, and to download the February 2020 Central Texas Housing Market Report, visit www.abor.com/statsfeb2020.

The Austin Board of REALTORS® (ABoR) is a nonprofit organization that has been serving the needs of Austin REALTORS® and consumers for more than 90 years. ABoR provides technology, education, and advocacy for more than 13,000 members, as well as monthly housing market reports for Travis, Hays, Williamson, Bastrop, and Caldwell counties. ABoR’s market reports include the most accurate multiple listing service (MLS) findings for the Austin area.

For more information, and to download the January 2020 Central Texas Housing Market Report, visit www.abor.com/statsjan2020. All information taken from the Austin Board of Realtors December & Year-End 2019 Central Texas Housing Market Report,

 

New Look in 2020 for TJ Lewis Real Estate!

TJ Lewis Real Estate Official ReBrand for 2020!

Entering its 5th year of serving the real estate needs of clients in the areas of Austin, San Antonio and Dallas, TJ Lewis is debuting a fresh, new look! The new logo and branding showcase a modern design to match the agents working with our brokerage. With professional agents, smart technology and personal support, TJ Lewis Real Estate has the agents and the service to help you with all your real estate needs! 

If you are looking to buy, sell, lease or invest in real estate, check out our growing roster of agents who are eager to help you Move Smart! What do we mean by “Move Smart”? We’re glad you asked! Check out more about out passions HERE…

Growing agents and growing communities…come Move Smart with TJ Lewis Real Estate!

 

TJ 2NEW

 
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December & Year-End 2019 Central Texas Housing Market Report

Austin area closes decade with record-breaking $13B in home sales

Single-family home sales increased by 84% since 2010

AUSTIN, TX – While Austin continued to rank high on “Best of U.S.” lists, Central Texas REALTORS® sold more homes in 2019 than any year on record, according to the latest Austin Board of REALTORS® (ABoR) analysis. The December and Year-End 2019 Central Texas Housing Market Report reflects a record-breaking 33,084 home sales and $13,158,737,333 in sales volume.

“Austin’s unprecedented population growth during the past decade has heavily impacted the real estate market. Compared to 2010, home sales in 2019 increased by 84%,” Romeo Manzanilla, 2020 ABoR president said. “That type of exponential growth has put enormous pressure on the market, raising the median home price from $193,520 in 2010 to $318,000 in 2019. As we look forward to this year, the market is not showing signs of slowing down anytime soon.”

Austin is one of only eight U.S. metro areas to have fully recovered in the last 10 years to prerecession values, Mark Sprague, state director of information capital at Independence Title, said.

“Austin’s GDP, which grew 117% over the last 20 years, helped the real estate market recover from the recession,” he said. “The closest metro out of the top 50 in the U.S. to see this type of growth was Silicon Valley, which grew its GDP by 99% during the same period.”

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Austin-Round Rock MSA

In the Austin-Round Rock MSA—now the 30th largest U.S. metropolitan area—the median price for single-family homes increased by 2.6% to $318,000 in 2019. During the same period, sales increased by 7.2% to 33,084 sales. New listings for the five-county MSA increased year over year by 1.4% to 39,309 listings in 2019. Active listings decreased 4.3% to 6,216 listings, but pending sales increased 10.5% to 33,976 pending sales.

Sprague said every real estate channel in the Austin metro—from homes to warehouses—is doing well, even though not enough inventory is available.

In December 2019, sales volume in the Greater Austin area increased by 9.2% to 2,608 sales, while inventory decreased by 0.5 months to 1.7 months of inventory. Growing demand pushed the median price of a single-family home to $323,000, a 7.1% increase from December 2018.

“If we don’t take action to increase housing supply in Austin, we will continue to see exponential increases in home values,” said Manzanilla. “ABoR continues to advocate for an updated land development code in Austin for exactly this reason—so that folks who want to purchase a home in the area can afford to do so.”

City of Austin

In 2019, Austin’s median home price increased by 5.3% to $395,000 compared to the previous year. During the same period, sales rose by 1.8% to 9,572 homes and sales dollar volume grew 6.9% to $4,678,400,967. In December, the median home price increased 8% year over year to $405,093 and sales increased 8.9% year over year to 738 home sales. Austin’s monthly housing inventory decreased in December from 0.5 months to 0.9 months of inventory.

Travis County

 

In Travis County, the median price for single-family homes grew by 3.6% to $372,000 for 2019 vs. 2018 and sales grew similarly—4.7% to 16,042 sales. The December median home price rose 6.3% year over year to $369,000 and sales increased 8.8% year over year to 1,257 sales. The monthly housing inventory for December dropped by 0.5 months to 1.4 months of inventory.

Williamson County

 

While Williamson County’s median home price increased in 2019 to $287,774, it remains significantly lower than the median in both Travis County and the city of Austin. Single-family home sales in Williamson County increased by 10.5% to 11,797 sales in 2019 compared to 2018. In December, the median home price rose 4.3% year over year to $290,280; sales increased 14.1% to 970 sales. Housing inventory declined 0.5 months year over year to 1.8 months of inventory.

Hays County

In Hays County, the median home price increased by 1.8% to $268,000 in 2019. Sales increased by 6.9% to 3,829 sales. The median home price in December grew 1.5% year over year to $269,000; December sales increased 2.2% to 279 sales. Housing inventory decreased 0.2 months to 2.6 months of inventory.

 

Bastrop County

In 2019, Bastrop County’s median home price increased by 5% to $239,450 in 2019 and sales increased by 12.2% to 1,120 sales. In December, the median home price grew by 2% to $234,500, but sales dropped 3.4% to 86 sales. December’s monthly housing inventory increased by 0.1 months to 3.3 months of inventory.

Caldwell County

Caldwell County’s median home price increased by 11.1% to $199,900 in 2019 and sales increased by 3.9% to 296 sales. In December, the median home price rose 17.1% to $205,000, but sales dropped 23.8% to 16 sales. Monthly housing inventory grew by 0.5 months in December to 3.8 months of inventory.

For more information and to download the December and Year-End 2019 Central Texas Housing Market Report, visit www.abor.com/statsdec19. All information taken from the Austin Board of Realtors December & Year-End 2019 Central Texas Housing Market Report,