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Sales between $120,000 and $160,000 represented less than 10% of market activity in 2011 and 2012. At the same time, sales between $200,000 and $400,000 have become well-established contributors to our market over the past few years, representing 34% of sales in 2011 and 36% of sales so far in 2012! Continue reading
The strength of the Central Texas real estate market continues …. Listing inventory is down, representing just a 4-month supply — solidly in seller’s market territory. The monthly unit sales pace is still about 20% lower than the peak of the market cycle in June 2006, but is almost 24% higher than the same month last year. Continue reading
CowParade Austin — what a great, fun way to raise money for the kids! Continue reading
There is an obvious upward trend overall from 2008 through 2011, and the shape of this curve in 2011 looks very much like pre-bubble 2005. Year-to-date dollar volume in 2011 (January through September) is just 2% lower than the same period in 2005.
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Anyone who has been in the real estate business is well aware of the requirement to “disclose, disclose, disclose” everything you know or think you know about the condition of your home when selling. Not only is it the right thing to do, but it is the best protection against this kind of horrible surprise. Continue reading
Austin’s “slow and steady” performance during the recession means that a dip compared to last year’s very unusual July price spike should not be surprising. The longer-term view remains encouraging. Continue reading
Austin is ranked #2 in this study of “markets to watch” in 2012 Continue reading
What fields offer the most abundant employment opportunities in Austin? Continue reading
Our market absorption rate has dipped over the past couple of months, but this is the fiirst time since 2005 that we have seen this metric bouncing around the long-term average of 21% rather than a much lower level. With continuing uncertainties in the U.S. political and economic scene, and in the world economy, these Winter months may remain a little soft, but if history is an indication then we are poised to enter a new growth phase in the local real estate market. Continue reading
Austin’s Gross Metropolitan Product grew 6.97% in 2010 — impressive performance, placing Austin 2nd among the 50 largest local economies. Continue reading
Bill Morris on Austin Real Estate 