Wow! It’s been a wild and crazy start to the year! I’ve been focusing (apart from normal business activities) a lot on trying to get all of my blog posts cleaned up and reformatted- starting with the oldest. After moving brokerages back in October, I also changed blogging platforms and moved all of my YouTube videos over to my personal YouTube account. Sounds easy, right? HAH! So, apologies for the scarcity in new blog posts as of late- but they’re coming!
In light of that, what better way to come back than with a 2016 year-end wrap-up! Unless you’ve been living under an enchanted rock, you know that 2016 was a nutty year in Austin real estate. You’re either feeling squeezed by rising rental rates or rising property taxes.
It’s a catch-22 really. I mean, we love Austin because it’s an amazing city to live in. Almost no one can deny that. However, because it’s such an amazing city, the number of people wanting/willing to relocate here is ever-increasing. For those of you feeling the financial squeeze of housing costs, I hate to tell you- but I think the pressure will continue for a while. The good news: I don’t think the acceleration of the intensity will be quite like it has been the past few years.
Check out the video below where I break down Austin’s most recent market numbers for the month of January. Additionally, I go over the stats for 2016 as a whole and attempt to take stock of where the heck we’re at with the housing market in this sweet town. (If the video doesn’t show up below, check it out HERE on my YouTube channel!)
The Austin Board of Realtors recently released the market statistics for the month of October. Check out the video at the bottom of this post for an update!
This month is a very basic stats update focusing solely on the city of Austin (proper). If you were to ask almost any Austin real estate agent What’s the market doing right now?, they will tell you that change is in the air. I’m not saying we need to brace ourselves for a market crash or anything- but something is changing. I’ve spoken with several listing agents in recent weeks who say things like, “We’re getting lots of showings but no offers.” or “We can’t get anyone through the dang door!” or “I’m dreading talking to my seller about a price reduction…but that’s definitely going to have to happen.”
I recently had the following exchange with an agent-friend of mine:
Agent: My listing has been on the market for months. This market is declining!
Me: I think you’re just overpriced.
Agent: But my seller thinks we’re priced correctly.
Me: Your seller is crazy. (or just delusional)
Agent: But there are lots of homes that are not selling right now.
Me: Lots of sellers are crazy.
Seriously, though, I don’t think the Austin market is in decline. We still have the same problem we’ve had for years: Significantly more people want to move here than those who want to move away. Regarding my friend’s predicament- I’m sure that if they were to reduce the price gradually each week by $10,000, they would end up selling it at a price that is about 8% more than they could have sold it for at this time last year. Instead, they are likely trying to sell the property for 25% more than they could have sold it for last year, which is insane. Our market can support moderate appreciation; it cannot support insanity.
Keep up with the blog for future market updates! (If you don’t see the video below, check it out HERE on my YouTube channel!)
The Austin Board of Realtors just released the newest round of stats for the month of August. Check out the video below where I break down (what I think are) the most important take-aways! Everyone knows this market is a bit nutty. But how nutty is it, you ask? Watch the video and judge for yourself!
The Austin Board of Realtors recently release their June stats for the Austin area. Honestly, last month was more of the same (for the most part). Average and median prices are increasing; inventory is super-tight; more and more Austinites are moving to the suburbs for more reasonable prices; at the same time, migration to Austin is growing evermore!.
What I personally find interesting is digging into the numbers of specific areas/zip codes. Check out the video below where I take a tiny dive into the stats of one central Austin zip code.
If you are a home-seller in Austin, TX, you’ve still got the upper hand. As long as you are priced somewhere in the range of what’s reasonable, you should sell very quickly…and you’ll likely have several interested parties. Multiple offers have really become the norm.
In the video below, though, I talk a bit about an area that is growing significantly in popularity. With pretty good schools, easy access to I-35, MoPac, HWY 183, etc., and relatively affordable prices, Williamson County (Cedar Park, Round Rock, Leander, Georgetown, etc.) is experiencing somewhat of a boom.
My beloved Austin Board of Realtors just released their most recent market statistics. Check out the video below for the numbers roundup!
It’s funny- a lot of people throw around statements like “Gah, the Austin market is crazy!” or “Man, every home in Austin sells after like three days on the market!” Well, that’s not entirely true. One thing I love about working in the Austin real estate market is that the market in one area can operate completely different than another area. For example, the real estate market in Lakeway is drastically different than the market in Windsor Park. If you are at all curious about what the market is like in your area, don’t hesitate to ask!
If the video doesn’t show up below, click HERE to view it on my YouTube channel.
2015 has finally come to a close…at least with respect to reported housing market stats! 2015 was a major record-breaking year for the Austin area. Check out the video below where I break down some of the numbers for the entire year!
One quick point that I didn’t really mention in the video:
It’s a little misleading to say that inventory in Austin is so low and just leave it at that. It can be a bit confusing for someone who isn’t intimately familiar with these numbers- especially when you hear that there was a record number of homes sold. If you’re like me, you think, “Wait, first you said tons of homes were sold and that there were record numbers of homes hitting the market…and then you said there’s hardly anything available. What the heck? Which one is it?!”
It might help to phrase it this way: There is very little housing inventory available in Austin relative to the number of people who are wanting to buy homes.