Austin Real Estate Market Update

Austin Is Hottest Real Estate Market This Spring

Hot is no longer the right word to describe the Austin real estate market. Thanks to the little supply and high demand, the market is extreme, overheated, and supercharged. The lack of supply and increase in demand makes it one of the most competitive housing markets in the country. But why and how? Homebuyers have continued to move into the area. A Census Bureau report from March 2020 shows that the...

Appraisal Waiver: What It Is and The Risks

We’re sure you’ve heard this saying over and over again but, we’re going to repeat it! The housing market is insane right now! There’s a high demand for houses but little inventory, which creates a seller’s market. It works in favor of sellers and might hurt buyers, but there’s a tactic changing the real estate market. It’s called an appraisal waiver.  What is an appraisal waiver? An...

Upgrades Homeowners Want Right Now in the Austin Area

The first anniversary is coming up! Anniversary of what, you may ask. The anniversary of people living and working from home thanks to a pandemic, of course. From this one year, real estate agents and home professionals have realized there’s a popular trend in what homeowners seek in a home now. So whether you’re selling your Austin-area home or looking for someone to occupy your property, consider...

Real Estate Investment Mistakes to Avoid

There has never been a better time to invest in Austin real estate. We want to set you up for success, so we’re going to cover common real estate investment mistakes like improvements that will provide the most return on cost, who you need on your investing team to be successful, what to research before buying an investment property, the importance of screening tenants effectively, and...

5 Home Design Lessons We’ve Learned

A pandemic causing people to live and work from home for the last year has forced us to evaluate our homes and their layouts. These home designs are almost necessary to have in a living space now.  1. Closed Floor Plans are Making a Comeback While open floor plans were a popular layout, it’s now outdated when you live and work at home. Now, people want more privacy in their homes. Some people may...

Austin in Top Ten Most Favorable Areas for Millennials During the Pandemic

The pandemic had a significant impact on real estate and housing during 2020 and millennials had an impact. More people than ever worked from home (and continue to), which has led to increased demand for specific features in a home, such as a dedicated home office or gym. During the pandemic, we’ve also seen mortgage rates hover near historic lows, which has helped make houses more affordable.  The...

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The Effect of Businesses Relocating to Austin

During the pandemic, Elon Musk announced he’s bringing his businesses, Tesla, Space X, and the Boring Company, to Austin. Oracle recently announced they’re relocating their headquarters to Oracle as well. Dropbox’s CEO also announced plans to move to Austin. Some have labeled it as a “tech exodus” from the Bay area.  Austin is not only a popular location for new businesses, but current...

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A 2020 Real Estate Market Review

2020 is going down in history as the longest year and most challenging and unique...at least for the real estate market! This year has been touched by higher unemployment, natural disasters, presidential and local elections, and, duh, a pandemic. These factors have influenced the real estate market, so let’s break down how...before we say “goodbye” to 2020. Booming House Sales Especially with...

Sage Wilson Property Group Predicted Growth in South Austin Best Austin Real Estate Brokerage Buy Homes ATX Sell Homes ATX

Predicted Growth in South Austin

With new businesses coming to Austin and the surrounding areas, as well as existing offices expanding and searching for larger spaces to hold their growing teams, the population and demand for residences are climbing in numbers. There aren’t many places that have been left untouched by the recent boom, but there are some areas that may be seeing the increase in people flocking to their neighborhoods...

Despite seeing a decline in the number of single-family homes on the market, the median price of homes is at an all-time high, according to the May market statistics report released by the Austin Board of Realtors. The new record median price comes in at $407,400, yet the May 2019 Central Texas Housing Market report shows declines for both new and active listings in the city of Austin. There was also a 3.4% drop in home sales in Austin, but the surrounding areas saw immense growth. A lot of this comes from a lack of supply in affordable housing options for first-time homebuyers with specific wants and needs. Since they can’t find property that has everything they’re looking for in Austin, they’re setting their sights on properties in the suburbs of the city. Let’s take a closer look at some of the communities that are close to our hearts and what the current market standings mean for them. Austin-Round Rock Metropolitan Statistical Area In the Austin-Round Rock MSA, single-family home sales increased 6.2% from May 2018 to May 2019 to a total of 3,452 home sales. Sales dollar volume experienced a double-digit percent increase of 14.8% to $1,468,980,773 — the highest volume to date. The median price for single-family homes rose 4.2% to $335,095. However, during the same period, new listings slightly decreased 1.3% to 4,356 listings and active listings decreased 0.6% to 6,781 listings. Pending sales increased 8% to 3,504 pending sales. Monthly housing inventory declined to 2.6 months of inventory. City of Austin Single-family home sales decreased by 3.4% in May to 1,010 sales in the city of Austin. However, sales dollar volume increased by 7.1% to $512,126,547, illustrating higher price points and a tightening market. The median price for single-family homes rose 5.8% year over year to $407,400. During the same period, new listings decreased 3.6% to 1,263 listings; active listings decreased 11.3% to 1,349 listings, but pending sales increased 3.3% to 1,009 pending sales. Travis County In Travis County, single-family home sales increased by 2.9% to 1,682 sales in May. During the same period, sales dollar volume spiked 16.5% to $884,454,751. The median price of single-family homes increased by 8.1% to $400,000. New listings decreased 4.7% to 2,126 listings and active listings decreased 7.3% to 2,977 listings, as pending sales increased 3.6% to 1,713 pending sales. Monthly housing inventory dropped 0.2 months to 2.3 months of inventory. If you’re considering buying or selling a home, but aren’t sure what these statistics mean for you, we’re happy to help. The friendly team at Sage Wilson Property Group can analyze the market and give you an easily digestible report on what the best options are for you and your family. Give us a call today!

Austin Real Estate Market Update

Despite seeing a decline in the number of single-family homes on the market, the median price of homes is at an all-time high, according to the May market statistics report released by the Austin Board of Realtors. The new record median price comes in at $407,400, yet the May 2019 Central Texas Housing Market report shows declines for both new and active listings in the city of Austin. There was also a...

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