Friday, March 16th, 2018 at 2:24pm. 153 Views
Austin Area Home Prices Spike in February 2018
Wondering if this spring would bring a slowdown in the red hot Austin real estate market? Not so far, according to the February 2018 Central Texas Housing Market Report released by the Austin Board of REALTORS®. Prices spiked across the area, according to the report, with the most in-demand areas reporting double digit increases.
With the city of Austin, median price increased 12.2 percent compared to February 2017, to $367,701. With an inventory decrease from 1.4 months in February 2017 to 1.3 months in February 2018, home sales decreased 6.7 percent to 599 sales. A balanced market is considered approximately 6.5 months of inventory, according to the Real Estate Center at Texas A&M University.…
Thursday, March 8th, 2018 at 7:01pm. 192 Views
In its 2018 rankings, U.S. News & World Report has named Austin, Texas the number one place to live in the United States. With a score of 7.8, the capital city was compared to the 100 most populous metro areas in the U.S. and scored based on value, desirability, job market, and quality of life.
Austin’s individual rankings included a score of 8.4 for desirability, 7.3 for value, 7.5 for job market, 7.3 for quality of life, and 9.8 for net migration. About 50 people per day move to Austin, according to the report, and the latest data put the area at a population of 1,889,094.
Austin’s unemployment rate was listed at 3.2 percent, with the top employment industries being Health Care and Social Assistance; Professional, Scientific, and Technical…
Thursday, February 22nd, 2018 at 7:37pm. 243 Views
Single family home sales in Texas are expected to increase by 6.6 percent in 2018, according to the Real Estate Center at Texas A&M University, even as builders statewide are continuing to struggle to meet affordable housing needs.
It’s a “difficult task” to build homes priced less than $300,000, due to rising land costs and shortages in skilled labor, said Real Estate Center Research Economist Dr. Luis Torres. However, “The state’s economic acceleration and employment growth bode well for housing demand. Prices should ease slightly as homebuilders stretch to build more entry-level and first move-up homes, generally priced from $150,000 to $250,000,” he said.
Housing permits were up 8.2 percent in 2017 statewide, with Austin permits increasing 12…
Tuesday, February 20th, 2018 at 2:35pm. 211 Views
Austin, Texas is the 2018 best state capital to live in, according to WalletHub, which compared all 50 United States capitals on factors such as affordability, economics, education and health, and living standards. Austin scored a 67.73 on its State Capital Index score, besting second place Madison, Wisconsin by over three points. Boise, Idaho; Lincoln, Nebraska; and Bismarck, North Dakota rounded out the top five.
Of the 50 capital cities, Austin came in second for highest median income, second for lowest premature death rate, and had the second highest level of millennial newcomers. It came in third for its number of attractions. Austin had the fifth highest percentage of adults with a bachelor’s degree or higher.
Austin’s overall affordability…
Thursday, February 15th, 2018 at 5:08pm. 411 Views
January 2018 shows continued strength of Austin-area real estate market: Record-breaking sales and prices could continue
Home sales increased across the five-county Austin Metropolitan Statistical Area in January 2018, “setting the pace for what could be another record-breaking year,” according to the Austin Board of REALTORS® January 2018 Central Texas Housing Market Report. Sold prices for homes in the Austin-area increased 3.6 percent over January 2017 to $290,000, and home sales volume increased 8.5 percent to 1,655 sales. Inventory remained the same as last January at 1.9 months, well below an average balanced market of six to 6.5 months. Pending and active listings indicate February 2018 also will be a strong month for sales, according to the…
Wednesday, January 31st, 2018 at 10:51am. 376 Views
Following a low-momentum period, Texas single-family housing construction permits jumped 17.2 percent in November 2017 to reach pre-recession levels, according to the Real Estate Center at Texas A&M University. In Austin, construction permits were up 24.9 percent, with Dallas permits increasing 13.9 percent. Additionally, the Texas Residential Construction Leading Index reached its highest level since April 2017, which indicates likely improvements in residential construction through the end of the year, according to the report. Texas housing starts increased for the second straight month, with a year over year increase of 11 percent.
Overall home sales in Texas increased 6.6 percent in November 2017, despite challenges in available inventory for…
Friday, January 19th, 2018 at 5:16pm. 653 Views
2017: Another Record-Breaking Year for Austin-area Real Estate
Austin-area real estate achieved another record-breaking year in 2017, with home sales volume increasing 2.4 percent to 30,059 sales and median home price increasing 5.4 percent to $299,900, according to the Austin Board of REALTORS® December and Year-End 2017 Central Texas Housing Market Report. For home sales in the city of Austin, sales volume increased 2.5 percent to 9,278 sales, and median price reached an all-time high of $362,000.
Despite the record-breaking year, there are indications the real estate market will return to a more “normalized” positive pace soon. “While the Austin area continues to break records, the pace at which annual home sales and prices are increasing in…
Tuesday, January 16th, 2018 at 2:35pm. 587 Views
The Real Estate Center at Texas A&M University has released its January 2018 outlook for the Texas economy, with major factors robust, including those involved with residential real estate.
Housing sales across the state expanded, despite “shortages of homes priced under $300,000,” which is making entry level and starter home purchases potentially more difficult for many buyers. Residential construction activity held steady. And the Residential Construction Leading Index reached its highest level since April 2017, with increased weighted building permits and housing starts. The report stated that this signaled residential construction activity improvements through the end of 2018.
Rebuilding efforts around the Texas Gulf Coast contributed to 8,200…
Friday, December 29th, 2017 at 2:46pm. 649 Views
Austin, Texas is a top United States city for tech-savvy millennials, according to Forbes. Austin, along with Denver, Seattle, Pittsburgh, Durham, and Minneapolis were recently featured cities that provide millennials “the social, cultural and intellectual stimulation that they seek,” as well as an affordable cost of living. Forbes said the key to success for millennials, those born between 1981 and 1987, is moving to a city with “burgeoning tech companies that create good career opportunities.”
Citing Austin’s reasons for placement on the list, Austin was noted as having approximately 21.4 percent of residents between ages 25 and 34. Interestingly, it also has been ranked top in the world for internet speed. Austin did get dinged for temporarily not…
Thursday, December 21st, 2017 at 12:55pm. 717 Views
Mother Against Drunk Driving hosted its 20th annual Austin Jingle Bell 5K recently at the Domain. With thousands of participants, the event is designed to bring awareness to the issues of drunk driving, drugged driving, and underage drinking.
Regent Property Group Broker Brian Talley and Regent Co-owner Erika Talley hosted a booth at the family friendly event. Brian’s motivation for supporting the event stems from his experiences; he was rear-ended by a drunk driver while in high school and also was witness to a drunk driver receiving his ninth Driving While Intoxicated citation. Unfortunately, he says, “We have all heard of people killed from a drunk driver, and many may have a personal experience.”
The Jingle Bell 5K included a chip-timed 5K for…