Market Updates

2015 Year-End Statistics

February 2, 2016 By

infographic_dec15

Austin-area home sales and prices set an all-time record in 2015, as well as records for the month of December 2015, according to a Multiple Listing Service report released by the Austin Board of REALTORS®.

Demand for Austin-area real estate was stronger than ever in 2015, mostly due to our thriving economy and population growth. The median price for single-family homes in the Austin area increased nearly $30,000 in the last year alone.

In December, the median price for condominiums was $250,000, eight percent more than the same month of the prior year and they spent an average of 46 days on the market, 10 days fewer than in December 2014.

If you know someone who wants to buy or sell in today’s market, call me!

December 2015 Statistics

  • 2,390 – Single-family homes sold, five percent more than December 2014.
  • $270,000 – Median price for single-family homes, 10 percent more than December 2014.
  • $348,904 – Average price for single-family homes, 13 percent more than December 2014.
  • 57 – Average number of days single-family homes spent on the market, one day more than December 2014.
  • 1,646 – New single-family home listings on the market, six percent more than December 2014.
  • 5,214 – Active single-family home listings on the market, three percent more than December 2014.
  • 1,601 – Pending sales for single-family homes, one percent less than December 2014.
  • 2.2 – Months of inventory* of single-family homes, unchanged compared to December 2014.
  • $833,880,560 – Total dollar volume of single-family properties sold, 19 percent more than December 2014.

2015 Year-End Totals

  • 29,068 – Single-family homes sold, five percent more than 2014.
  • $263,900 – Median price for single-family homes, nine percent more than 2014.
  • $333,558 – Average price for single-family homes, eight percent more than 2014.
  • 49 – Average number of days that single-family homes spent on the market, two days more than 2014.
  • 36,810 – New single-family home listings on the market, four percent more than 2014.
  • 6,044 – Active single-family home listings on the market, five percent more than 2014.
  • 29,839 – Pending sales for single-family homes, five percent more than 2014.
  • $9,695,852,178 – Total dollar volume of single-family properties sold, 13 percent more than 2014.

Source: http://www.abor.com/statsdec15/

Filed Under: Market Updates

The 2015 Top Reasons Why Austin is a Great Place to Live

March 1, 2015 By

Everyone seems to be talking about Austin!  With our thriving economy, vibrant music scene, and eclectic culture, it is no surprise that we are America’s fastest growing city.  Below is a listing of recent acknowledgements and accolades that Austin has received from the online news sites, print media, recent studies, and public opinion polls at a national level.

ECONOMY

  • Number one of the 6 most affordable, Fast-growing US Cities – Urban living without breaking the bank (Cheapism.com, February 2014)
  • Number one of America’s 20 Fastest-Growing Cities (Forbes.com, February 2014)
  • Number two of 16 U.S. Cities Where Women Actually Earn More Than Men (Nerdwallet, July 2014)
  • Austin ranks fourth on Forbes’ List of America’s Most Creative Cities in 2014 (Forbes, July 2014)
  • Austin ranks 45th among 2014’s Most & Least Recession-Recovered Cities (Wallet Hub, July 2014)
  • According to a Nerdwallet study, Austin ranks number seven among the 10 best cities to launch a start-up (CNN Money, July 2014)
  • Austin, Round Rock, and San Marcos are grouped at number six among Best Places for STEM Graduates (Nerdwallet, July 2014)
  • CareerBuilder and Economic Modeling Specialists rank Austin as number five among the Top Ten Metros with the Highest Gains in Share of U.S. Jobs for our data processing and hosting, computer system design, management, scientific and technical consulting services, and semiconductor manufacturing. (CareerBuilder.com, July 2014)
  • Austin ranks number three among Cities Stealing Jobs from Wallstreet (NewGeography.com, June 2014)
  • According to the U.S. Conference of Mayors, Austin will be the fastest growing U.S. metro economy through 2020 (U.S. Conference of Mayors Online, June 2014)
  • Austin is one of the top five most small business-friendly cities in the nation (Thumbtack, June 2014)
  • Austin ranks number two in the Best Cities for Women in the workforce (Nerdwallet, June 2014)
  • Austin is the third best city for starting an online business (HighSpeedInternet.com, May 2014)
  • Austin ranked number three on Forbes’ Top Large Cities for Jobs list (Forbes, April 2014)
  • Austin is the third Best City for College Grads (Livability.com, April 2014)
  • Austin’s economic performance from the recession through the recovery ranks number one in the nation (Brookings’ Metro Monitor, April 2014)
  • Austin is the third Best City for Job Seekers (Nerdwallet, January 2014)
  • Austin is number two in the Top 5 Fastest Growing Cities for Renters in the U.S. (Rent.com, May 2014)
  • Austin ranks number one for 2012-2013 population growth among the 100 largest U.S. metros (U.S. Census Bureau, March 2014)
  • For the fourth year in a row, Austin ranks number one on Forbes’ annual list of America’s Fastest-Growing Cities (February 2014)

EDUCATION

  • Austin makes the list of Best Cities for Service-Oriented Students (BestColleges.com, July 2014)
  • University of Texas at Austin named the 28th best university in the world (Times Higher Education, October 2014)
  • Austin tops ranking of U.S. metros for net migration of adults with college degrees (NewGeography.com, August 2014)
  • The University of Texas ranks 5th worldwide for U.S. patents granted to universities in 2013 (National Academy of Inventors, June 2014)
  • According to data culled by ZipRealty Inc., the Eanes school district of the Austin area is one of the country’s top 10 Best Places for Families to Live (Ziprealty, July 2014

FOOD/ENTERTAINMENT

  • Texas ranks number two on the list of U.S. states by food/drink (Thrillist, July 2014)
  • Austin is one of the 10 Best Cities to Dine with Your Valentine (Trulia, February 2014)
  • Austin’s District Kitchen and Cocktails is included in the Top 100 Neighborhood Gem Restauraunts in America (OpenTable Inc., June 2014
  • USA Swimming’s top 50 swimming cities in the country ranks Austin as number eight (USA Swimming, July 2014)
  • The Guardian’s top 40 international holiday hotspots lists Austin as number three for 2014 (The Guardian, January 2014)
  • Hamilton Pool of Dripping Springs, Texas was ranked #18 among “America’s Best Swimming Holes” (Weather.com, August 2014)
  • Jacob’s Well: Wimberley Valley, Texas was ranked #3 among “America’s Best Swimming Holes” (Weather.com, August 2014)

LIFESTYLE/ENVIRONMENT

  • Two Austin neighborhoods (Mueller and Gallindo) made the list of Top 10 Neighborhoods for Green Homes (Redfin, April 2014)
  • Austin is in the top 10 affordable purchase markets for aspiring millennial homebuyers (RISMedia, July 2014)
  • Austin ranks 16th in the nation for solar power by Total Installed Solar PV Capacity (EnvironmentTexas.com, April 2014)
  • Named among the top 10 budget-friendly retirement spots for having a lot of retirement-friendly attributes, including low taxes (CNBC Online, June 2014)
  • Austin was ranked among the “Top 20 Coolest Cities in America” (Forbes Magazine, August 2014)
  • Austin is the No. 3 City in the U.S. to Educate, Entertain, and Exhaust Your Kids (Macaroni Kid, September 2014)
  • Austin is one of the Ten Best Cities for Coffee Snobs (Redfin, September 2014)
  • Austin ranked 40 of 100 among the most recreation-friendly cities for park quality, weather conditions, entertainment and rec. facilities (WalletHub.com, July 2014)
  • Austin is number one on the list of top ten cities in the U.S. for group fitness (MyFitnessPal, July 2014)
  • Austin made the list of the Five Best Cities for Pet-Friendly Vacations (SheKnows.com, July 2014)
  • Austin is rated the number three most patriotic city in the U.S. (MyLife.com, July 2014)
  • Austin is rated the second best city for millennials (Niche.com, April 2014)
  • U-Haul names Austin the sixth U.S. Destination City in 2013 (April 2014)
  • Austin and San Antonio are the two Best Places for Veterans overall. Austin ranks in the top five for veterans starting out, mid-career, and military retirement (United Services Automobile Association, October, 2014)
  • Austin ranks number seven on the list of the world’s most dynamic cities (Jones Lang LaSalle, January, 2014)

If you or someone you know is interested in taking advantage of the hot Austin real estate market, give me a call. 

Filed Under: Market Updates, Real Estate News

2014 Austin Area Housing Statistics

February 5, 2015 By

Dec14_1

For the fourth year in a row, annual home sales have increased in the Austin area. According to a report released by the Austin Board of REALTORS, the Austin area set a record for single-family home sales in December (2,283 homes), along with a record for annual home sales in 2014 (27,768 homes).

With its growing economy and below-average cost of living, Austin is the third-fastest growing big city in America. This population growth combined with low housing inventory is driving up home prices.

Townhouse and condominium sales also increased in 2014. December 2014 sales were up 6% compared to December 2013. In the same time period, the median price for condos was $229,750, which is 5% more than the same month of the prior year.

If you are thinking about selling in this incredibly strong market, call Edwin today!

December 2014 Statistics

  • 2,283 – Single-family homes sold, 14 percent more than December 2013.
  • $246,530 – Median price for single-family homes, 10 percent more than December 2013.
  • $311,082 – Average price for single-family homes, six percent more than December 2013.
  • 55 – Average number of days single-family homes spent on the market, three days more than December 2013.
  • 1,546 – New single-family home listings on the market, 10 percent more than December 2013.
  • 5,077 – Active single-family home listings on the market, 12 percent more than December 2013.
  • 1,623 – Pending sales for single-family homes, 18 percent more than December 2013.
  • 2.2 – Months of inventory* of single-family homes, 0.2 month more than December 2013.
  • $710,200,206 – Total dollar volume of single-family properties sold, 21 percent more than December 2013.

2014 Year-End Totals

  • 27,768 – Single-family homes sold, two percent more than 2013.
  • $242,500 – Median price for single-family homes, eight percent more than 2013.
  • $309,975 – Average price for single-family homes, seven percent more than 2013.
  • 47 – Average number of days that single-family homes spent on the market, three days fewer than 2013.
  • 35,423 – New single-family home listings on the market, four percent more than 2013.
  • 5,734 – Active single-family home listings on the market, four percent more than 2013.
  • 28,325 – Pending sales for single-family homes, one percent more than 2013.
  • $8,607,385,376 – Total dollar volume of single-family properties sold, nine percent more than 2013.

Source: https://www.abor.com/news_media/press_releases/2014/p16_14.cfm

Filed Under: Market Updates

6 States Where Jobs, Housing Shine

November 17, 2014 By

Employment growth often fuels strong housing markets, and if that holds true, Texas will be booming in more ways than just one.

Employment is flooding into the Lone Star State and shows no signs of slowing. About 413,000 jobs have been added in Texas in the last 12 months. The state, which is experiencing a thriving energy and oil sector, is expected to have the nation’s fastest annual job growth rate, at 2.7 percent, over the next five years, according to data from Moody’s Analytics. Texas boasts 118 of the largest companies in the U.S.

North Dakota is also seeing a dramatic rise in its labor market, with job growth forecast at 2.6 percent a year through 2018.

Jobs and income growth are key to a strong performance in the housing recovery in 2014, Freddie Mac Chief Economist Frank Nothaft said earlier this year. Indeed, economists at the National Association of Home Builders say that income growth is a key metric to watch for the future of new- and existing-home sales.

Forbes.com, using Moody’s Analytics data, ranked the best states for job growth:

  1. Texas
    Projected annual job growth: 2.7%
    Unemployment rate: 5.2%
  2. North Dakota
    Projected annual job growth: 2.6%
    Unemployment rate: 2.8%
  3. Nevada
    Projected annual job growth: 2.6%
    Unemployment rate: 7.3%
  4. Florida
    Projected annual job growth: 2.5%
    Unemployment rate: 6.1%
  5. Arizona
    Projected annual job growth: 2.5%
    Unemployment rate: 6.9%
  6. Colorado
    Projected annual job growth: 2.5%
    Unemployment rate: 4.7%

Source: “Texas Leads Best States for Future Job Growth,” Forbes.com (Nov. 2, 2014)

Filed Under: Market Updates, Real Estate News

Home Mortgages: Should You Buy or Sell This Year?

October 6, 2014 By

Although interest rates are slightly higher than they were last year, they are still at historically low levels, and buyers are eager to lock in before they increase. Nearly half of Americans feel that interest rates will increase in the next 12 months. Here’s an overview of the mortgage market:

MORTGAGE RATES ARE STILL LOW.

30-year fixed rate – 4.20%

15-year fixed rate –  3.31%

5/1-year ARM – 3.05%

Adjustable – 2.40%

MANY AMERICANS ARE MORE CONFIDENT THAT THEY WOULD QUALIFY FOR A MORTGAGE TODAY.

49% said that it would be easy for them to get a home mortgage today, up 4% from last fall.

$154,365 – Average mortgage debt.

Mortgage interest rates averaged 4.36% on a 30 year loan in Q1 2014.

 

3 Reasons to learn more about the mortgage market:

1. If you’re buying a home, knowing more about the mortgage market can help you lock into lower interest rates.

2. If you’re a homeowner, learning more about the refinancing options available can help you lock into a lower interest rate.

3. If you’re thinking about buying a home in the future, you can find out about the financing options available to get an accurate picture of how much you’ll need to save to buy a home.

 

Thanks to Holly Schuler at Gracy Title for this information!
 

Filed Under: Financing, Inside Scoop, Market Updates

Austin Recognized for Fewest Days on Market

April 28, 2014 By

Austin is new to the top 10 list at just over half the national average of 102 days. With its fast growing economy, a cost of living that’s 15 percent below the national average, low crime rates, and healthy housing market, it’s no surprise that Austin, Texas is the fastest growing city in the U.S. 

If you are interested in buying a home in the Austin area and you want straightforward, intelligible information about the real estate market so you can achieve your goals, please don’t hesitate to contact me.

AustinSkylineLouNeffPoint-2010-03-29-b

10 MSAs With Fewest Median Days on Market

March 2014

Denver, CO

25

Oakland, CA

27

San Jose, CA

31

San Francisco, CA

33

Seattle-Bellevue-Everett, WA

38

Boulder-Longmont, CO

42

Anchorage, AK

43

Stockton-Lodi, CA

48

San Diego, CA

51

Austin-San Marcos, TX

52

Source: “Realtor.com® Report: Higher Inventory a Welcome Sign for Spring Buyers,” realtor.com®(April 17, 2014)

Filed Under: Market Updates, Real Estate News Tagged With: , , , ,

Texas-Sized Housing Boom

October 21, 2013 By

The Texas A&M Real Estate Center reports a huge increase in home values and bidding wars in Houston and Dallas.  Over 15% median price increases in Dallas and 14% in Houston represent the highest year over year increases in over a decade.  Although it doesn’t mention anything about Austin, we’ve had our own share of bidding wars and multiple offers for the better half of 2013 and still going on in many pocket neighborhoods.

A hot real estate market can be a difficult ocean for both sellers and buyers alike to navigate so if you need an experienced and savvy real estate agent to sell or purchase a home in a hot market, give me a call.

Source: http://realtormag.realtor.org/daily-news/2013/10/10/everything-including-housing-boom-bigger-in-texas?om_rid=AACLKS&om_mid=_BSVxHPB81u25$z&om_ntype=RMODaily

Filed Under: How I help buyers, How I help sellers, Market Updates, Real Estate News

Starstruck in Austin

October 11, 2013 By

Have you ever wondered what are the top five cities in the U.S. you are most likely to run into a celebrity?  Probably not.  But Rent.com did and guess which major city in Texas made the list.  That’s right.  Austin, Texas, is the #5 city in the U.S.  Yet another reason why so many California residents are changing addresses.

1. Los Angeles, California
2. New York, New York
3. Wilmington, North Carolina
4. Boston, Massachusetts
5. Austin, Texas

Source: http://realtormag.realtor.org/daily-news/2013/10/03/5-best-celebrity-cities-besides-la-and-nyc?om_rid=AACLKS&om_mid=_BSTdPPB81kybEn&om_ntype=RMODaily

Filed Under: Market Updates, Real Estate News

Austin a Top City to Retire

October 19, 2012 By

We all know that Austin is the Live Music Capital of the World, attracting thousands of young visitors every year.  It’s also home to one of the largest universities in the country and boasts a very low unemployment rate.  But did you also know it’s a great place to retire?

CNN just put out an article ranking Austin the #5 city to retire due to its low state income tax (0%), amazing outdoor trails and parks, and top tier health care.

Full article here: http://money.cnn.com/gallery/retirement/2012/10/16/best-places-retire.moneymag/5.html

Filed Under: Family Life, How I help buyers, Market Updates, Real Estate News, Reviews and Recommendations Tagged With: , , , , , , ,

Not For Sale By Owner

August 10, 2011 By

In today’s economy, people are pinching pennies any chance they get. In my line of business, that means more and more sellers trying to sell their home without the expertise or skill of a real estate agent. Central Texas has been home (no pun intended) to the most stable real estate market despite the crash the rest of the nation has experienced, yet I still see plenty of For Sale By Owner signs on yards across Georgetown, Round Rock, and Austin. No community is immune to the temptation of saving money.

Not only is the owner potentially saving thousands of dollars from paying the agent’s commission, with the internet at our fingertips, there are great websites like ForSaleByOwner.com that help owners sell on their own. So it must be pretty easy and money-wise to sell without a licensed real estate agent. Or is it?

The founder of a popular for sale by owner Web site used a real estate broker to help sell his 2,000-square-foot, two-bedroom New York apartment after it lingered on the market for six months. Colby Sambrotto, the founder and former chief operating officer of ForSalebyOwner.com, tried to sell the property himself by listing it online and through classified ads, but after six months of it sitting on the market, he sought the help of a real estate broker. The condo soon attracted multiple offers and ended up closing recently for $150,000 more than the original asking price.

It’s like Dieter Zetsche (CEO of Mercedes-Benz) buying one of these for his daughter:

In other words, he got a much better product and paid less.

Contrary to popular (and unsubstantiated) belief, real estate agents can save you time and earn you more money than you realize. Contact your local REALTOR today if you are thinking about selling your home and if you don’t have one, contact your favorite HOMEboys!

Read the full story here.

Filed Under: Austin Communities, Georgetown Communities, How I help sellers, Market Updates, Miscellaneous, Property Listings, Round Rock Communities Tagged With: , ,
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