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Market Dashboard — what’s up in Austin real estate?

There is every reason to expect some seasonal softness in unit sales and prices in the coming months, but as I mentioned at the outset the Austin/Central Texas economy remains resilient. Economic strength continues to attract employers and employees to move here, that trend is filling available rental space and pushing rents upward, and as those new Austinites either sell homes elsewhere or just gain confidence in their futures they become Austin-area homeowners. Continue reading

Austin Market Dashboard — updated and encouraging

Even as chaotic market conditions still dominate press reports about real estate nationally, the Austin/Central Texas residential market continues to demonstrate fundamental strength. Sales volume is up for five consecutive months, and average and median home values have appreciated all year. Local and regional economic results and expectations are promising. Continue reading

What do you get for $200,000 in Austin?

Near the median sale price, we’re getting into “seller’s market” territory in many neighborhoods, but there is still a lot to choose from. Here’s an overview. Continue reading

What do you get for $1,000,000 in Austin?

The first thing you may notice is that this an over-inventoried market segmentThe difference in this high-end market segment, though, is that 126 available homes really isn’t that many in a metro area of 1.5 million people, and buyers in this segment may well be looking for THE house … Continue reading

Updated Austin Market Dashboard

Future market activity remains somewhat unpredictable, and much depends on the direction of the general economy and the nationwide real estate market. There is clear strength in the Austin/Central Texas market, though. Continue reading

Signs of Austin-area market progress

Closed sales were down from May 2010 to May 2011, but the most immediate measure of market demand clearly shows improvement. Anecdotally, my business and that of most real estate professionals that I talk to indicate that the pace of market activity is up, and there is plenty of support in local economic reports to expect that we really are on the way to more consistent growth. Continue reading

Austin Market Dashboard – updated

Virtually all economic indicators call for optimism for Austin’s economy and housing sector. However, uncertainty in the U.S. economy generally, and in the real estate business in many key metros, call for caution. Personally, I remain bullish but I am eager to see actual results in May and June 2011 before saying confidently that we have entered a sustainable new growth cycle. Continue reading

Downtown Austin condos — pricing right to sell for more

Sellers who price right early consistently sell faster and for more money than those who have to reduce their prices one or more times to attract a buyer. Continue reading

Downtown Austin Condos — market environment

Market conditions vary widely among different segments of the downtown condo market, but overall it is over-inventoried and likely to stay that way. Continue reading

Austin/Central Texas market performance — what’s selling?

There are many ways to approach market analysis. Many real estate practicioners still do what their clients usually expect and base a pricing recommendation on recent “comps” in the neighborhood. That will certainly provide one indication of market value, but without a more thorough understanding of the market environment, I suggest that that approach can easily mislead, and result in a listing that is overpriced, or underpriced or, maybe, priced just right. Continue reading