The most important feature of the current market cycle is that listing inventory has been at or below 3 months’ supply for virtually all of the past 5 years. This has been the longest-lasting “seller’s market” on record. Continue reading
In What About Downtown? I used recent sales prices on a per-square-foot basis to compare the downtown Austin area to other parts of the metropolitan area, and the contrasts are striking. Price per SF can be an interesting yardstick for large comparisons, and I am asked about it frequently, but it is not a good … Continue reading
There are significant variations in pricing within each county where most of the metro population lives, but there are cities in each county where a below-$200,000 purchase is still realistic. Continue reading
Market-wide price changes are the result of changes in the distribution of prices across many price ranges. Here’s a look at how the price distribution for homes sold in the Austin metropolitan area have changed. Continue reading
The real world of our fast-paced real estate market in Austin makes this post a couple of weeks later than I planned, but following up on my recent summary of Angelou Economics view of our community, I want to add a quick look at the residential market specifically. If you have attention to local media … Continue reading
Last week, Angelos Angelou (Angelou Economics) presented his recap of how Texas and Austin fared in 2015, and his outlook for 2016 and 2017. As always, it was an excellent and insightful review. There was far too much information to include here, but there are a few points related to Austin’s housing market that I do want to mention Continue reading
Much has been said over the past couple of years about housing affordability in the Austin area, and rightfully so. This is not hopeless, however. There are ways to address this trend, by allowing the addition of much more, and more varied housing stock throughout the area. Continue reading
The Austin metro area has become a famous real estate market over the past couple of years — hot, hot, hot!!! Multiple offers and very quick sales are frustrating for prospective buyers, many of whom make offers for several homes before successfully getting one under contract. These market conditions can also be discouraging to would-be … Continue reading
How much do homes really cost here? In the metro area, the highest average and median prices are in neighborhoods near the close-by south shore of Lake Travis, not in the city itself. At the other end of the market, there are six suburban cities with average and median home prices at or below $200,000. Continue reading
It is still possible to buy less expensive homes, but with the rapid growth in population and employment, it is more difficult and competitive, and most often in the suburbs. Still, through September 2014 more than 1/3 of all homes sold in the metro area were priced under $200,000. Continue reading
