Tag Archives: condos

Condos and Townhomes for sale in the ATX!

I am getting a lot of chatter about home sales, record prices, etc. The interesting thing is that many of the stats that are out there in most of the news rags are not specifically about the condo and townhome stock in this crazy hot market. The number of listings are up for condos/ townhomes, so there is stock. The median price is higher than every historically in the downtown market. I have heard some conjecture about overbuilding and price correction in this area. The numbers do NOT tell that story. They tell a story of a great opportunity to buy a chic downtown condo with the data showing historical median price increases that have shown an impressive growth curve for three years in a row. If you look at how many condos/ townhomes have sold, you will see that not even half way through this year, we are looking at numbers indicating selling more in this market than ever before. And look at the median prices.

Matrix – Click here to view this chart that indicates the median sales prices over the past several years indicating a dramatic increase.

Historic Sales x Price Range – Click here to look at the median sales prices and how many condos and townhomes were sold during each month of each year.

Great West Campus Property!

22nd-1

22nd-2

915 W 22 1/2 ST Unit#203

This property is new on the market and will not last long! It is in a great location and is ideal for students! Green building on the corner of San Gabriel and W 22 1/2. Huge penthouse condo in the heart of a vibrant West Campus neighborhood. 4 blocks to campus, shuttle stop right outside the front door. With 2 master suites upstairs and an extra half bath down, this is a perfect roommate floorplan that can comfortably accommodate 2-4 persons. The formal dining room is a big plus. 2 reserved parking spaces included. Washer and dryer in the unit. Ready for July 1 move-in.

Contact me to discuss this property!

512-507-1498

mistimeyers@yahoo.com

Now Is A Great Time To Lease Apartments Downtown!

20150117_182509_HDR_resized (1)I love living near downtown Austin. If you are looking for an apartment in the downtown or surrounding areas, this is a good time to look, in my opinion. It is just after the holiday lul in real estate followed by the wait period that a lot of apartments experience between now and May-ish. Though my building is reporting 96% occupied. It is amazing, but to beat this lul, I am seeing a lot of incentives, like a month free rent and/or almost no deposit.  I also offer various incentives for using me as your agent. So, if you are interested, just email, text or call me, and I will help you drill down your search. There are so many choices down here, that it takes a little information to get it to a reasonable search for you to look through and decide which ones are best for you. I love showing down here too.

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.

Real Estate Market Trends In This Country

According to the 2014 Urban Land Institute report released at their annual planning conference in Chicago, we are about half way through the real estate recovery market. Or I think we are about 2/3 of the way there. It has been slow and painful, but there are some excellent markets out there that are thriving.

The report and conference highlighted a number of housing trends we can expect to see playing out over the next few years, based on surveys and interviews with real estate developers, investors, lenders, services and builders.

The Millennial generation are changing the market, and the real estate movers and shakers are increasingly interested in where this generation is headed. A number of the cities have seen increased economic activity in the real estate sector led by this generation, particularly Austin, Seattle, Portland and the Twin Cities in Minneapolis.

Investors, developers and builders are losing some interest in the so-called 24-hour gateway cities — San Francisco and New York City — and have developed more interest in cities like Dallas and Portland, where there are more housing deals to be had.

For example, in 2011 only New York City and Washington, D.C. had good prospects for real estate investors and developers, according to the ULI report, but now Austin, Boston, Dallas, Houston, Miami, Orange County, Portland, San Francisco, San Jose and Seattle make that list — and D.C. actually dropped out.

There’s optimism among those surveyed by ULI that lending standards will loosen next year. That is straight up conjecture in my opinion. The interesting thing that is happening to fill the void is a concept called “shadow banking”. Shadow banking is similar to traditional bank lending, but it’s done outside banks and can therefore get around bank regulations. Borrowers going this route will find a hodge-podge of private funds, wealthy individuals, family offices, and refugees from other lending markets, according to the report.

 

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!