Tag Archives: ATX

Austin Student Housing

Hey parents, are your kiddos flying the nest and heading off to Austin to go to school? I have lived in Austin for over 20 years and am the proud mother of three children, the oldest of whom just graduated from college. Living expenses have been most significant in my college experience and many would agree! I am a licensed real estate professional in the Austin, Texas area working in the JB Goodwin REALTOR Westlake office – in an energetic, high-producing, award-winning office. If you have kids moving to Austin and need a place to lease, let me help you find the right property for their needs. The Austin real estate market is unbelievably dynamic (according to the City Demographer there are an estimated 110 people a day moving to Austin!).  I live in the West-central area of Austin, just a few blocks from the campus area, and know the area well.

If you are in a position, I highly recommend you look into purchasing a condo or other property near the university or downtown area. With the current market in Austin setting sales and price records for the past three years, now is a good time to buy. By offsetting some of the property costs by renting rooms to roommates and then adding in the property equity acceleration, purchasing is a great alternative to leasing. Contact me for more information and to discuss how I can help you with your property needs!  I do keep up with the current stock and can help you through a very complicated market down here! Best of luck to you all!

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Austin-area home sales set records again!!!

This report is a direct copy and paste from the Austin Board of Realtors site. Click here for a direct link to the article on ABoR site.
Austin-area home sales set records for the month of December, annual home sales volume in 2014

Austin Board of REALTORS® releases real estate statistics for December 2014 and 2014 year-end totals

AUSTIN, Texas – January 21, 2014 – According to the December 2014 and Year-End 2014 Multiple Listing Service (MLS) report released today by the Austin Board of REALTORS®, the Austin-area housing market set a record for single-family home sales volume for the month of December, as well as a record for annual home sales volume in 2014. This marked the fourth-straight year of annual home sales increases.

Barb Cooper, 2015 President of the Austin Board of REALTORS®, explained, “The Austin area experienced a strong, stable housing market in 2014, with year-end 2014 showing similar market conditions to those one year ago. Last month, the U.S. Census Bureau named Austin the third-fastest growing big city in America since 2000. That steady job and population growth has continued to drive increases in home sales volume and, combined with low housing inventory levels, home prices as well.”

According to the report, 2,283 single-family homes were sold in the Austin area in December 2014, a 14 percent increase compared to December 2013 and an all-time high for Austin-area home sales in the month of December. In 2014, home sales volume slightly exceeded 2013 levels to set a new record for the number of Austin-area homes sold in a year with 27,768 homes sold, a two percent increase from 2013.

Over the course of 2014, median price increased eight percent over 2013 to $242,500. In December 2014, the median price for Austin-area homes was $246,530, 10 percent higher than December 2013. As a result, the total sales dollar volume for single-family homes in 2014 topped $8.6 billion, an increase of more than $673 million from 2013.

Housing inventory levels remained low in 2014, despite breaking an 18-month trend of monthly decreases in the second quarter of 2014. In December, Austin-area monthly housing inventory was 2.2 months, 0.2 months higher than December 2013 but still well below the 6.5-month inventory level the Real Estate Center at Texas A&M University cites as a balanced housing market.

This slow rise in housing inventory was driven by an influx of listings throughout the last half of 2014. Active listings in December 2014 jumped 12 percent year-over-year to 5,077 listings, while new listings rose 10 percent to 1,546 new listings from December 2013. Throughout the year, new and active listings each rose four percent in 2014 to 35,423 and 5,734 listings, respectively.

In 2014, homes spent an average of 47 days on the market, or three days fewer than homes sold in 2013, while pending sales increased one percent from 2013 to 28,325 sales. Homes sold in December 2014 spent three more days on the market than December 2013, or an average of 55 days, and pending sales increased 18 percent to 1,623 sales during the same time frame.

Cooper concluded, “The Austin-area housing market is consistent, but so are its challenges. More homes on the market, at all price ranges and throughout all areas of Austin, will be crucial to maintaining Austin’s affordability in 2015. As one of the fastest growing metropolitan areas in the U.S. we must look to our new city council for a regulatory environment that stimulates and grows housing stock in a healthy, sustainable way.”

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.

The following sections describe trends in other sectors of the Austin real estate market.

Townhouses & Condominiums

The volume of townhouses and condominiums (condos) purchased in the Austin area in December 2014 was 222, which is six percent more than December 2013. In the same time period, the median price for condos was $229,750, which is five percent more than the same month of the prior year. When compared to December 2013, these properties spent five additional days on the market, or an average of 55 days.

Over the course of 2014, 3,150 Austin condos were sold, which is statistically unchanged compared to 2013; the median price was $215,000, or 10 percent more than 2013; and condos spent an average of 43 days on the market, nine days fewer than 2013.

Leasing

In December 2014, a total of 1,214 properties were leased in Austin, which is 17 percent more than December 2013. The median price for Austin-area leases was $1,450, which is five percent more than the same month of the prior year. In all of 2014, a total of 16,960 properties were leased in Austin, which is four percent more than 2013, and the median lease price was $1,480, or six percent more than 2013.

New Construction: 2512 Durwood ST – SoCo! – UNDER 1K A MONTH!!!

As I have written yesterday, now is a great time to lease. This is pretty cool opportunity for someone in the lease market in the next few months – but you need to act now. This is a really chic small complex in 78704!  And, they are offering ONE MONTH FREE for a limited time! New construction is hard to find in the 78704 zip code. Be among the first people to live in this small complex minutes from SOCO and downtown. Granite kitchen/bathroom and wood Vinyl flooring. This unit is only $1000 a month. The upstairs units have vaulted ceilings.  These will go fast, so call me for a showing! Text, call, email or just hit reply below…

Durwood1_edited-1 Durwood2_edited-1 Durwood2a durwood3_jpg

Data for 78703- December 2014

As a resident of this fine zip code, I love enjoying all the amenities that is unique to the ‘03’ as it were. With that being said, home ownership is valuable in this area. If you are considering selling your property for whatever reason, ‘tis the season. As a researcher for 20 years, I have a keen eye for data analysis. I took some time to really get to know the zip code in which I live and enjoy. The results are why I am writing this report.

According to reports I custom ran from the Austin Multiple Listing Services (MLS) Matrix Actris data reporting system, the sales in 78703 either remained consistent or surged in December 2012 and 2013 (TABLE 1). Compare active listings this year to historic data, and the number is down from previous years leaving a reduced supply situation (TABLE 2). The data indicates that there was an increase in home sales this time last year, so we can reasonably anticipate an increased demand along with a documented reduced supply

TABLE 1

TABLE 1_

 

TABLE 2TABLE 2

TABLE 3TABLE 3

Source: http://matrix.abor.com/Matrix/Stats/Stats

The overall median prices are up this year home sales in 78703 over the past decade (TABLE 3).  So, the number of listed homes is lower than in previous years. Median sales prices are at a ten-year high. And, historically, sales data show an increase in December sales in this area. If you are contemplating timing, I hope this helps. If you are not, then I hope you find this interesting. I know that I do. If you see me around, be sure to say hello. And, if you know of someone who has some real estate needs, even leasing, send them my way.

Are there any Good Investments for under $200,000 in Central Austin?

I get asked a lot if there are any places central for purchase for $150,000 range and also in the $200,000 range. The answer is yes! They may not be big or the newest, but they are there. The East Side of Austin has made some great changes and is the newest arts district. It is chic and a great investment. Also, there are a few small condos in the Clarksville and Tarrytown area in the $200,000 range. For a chick downtown condo, $400,000 is the opening mark that I have seen, but you can span your search just a little out into the campus areas and get something in the $200’s.  Call, text or email me!