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Even in one of the hottest metropolitan market areas in the country, there are huge variations in market conditions. Don’t read one article or watch a video about the seller’s market in Austin and assume it describes your property, or a property you may want to buy. Real estate is still very much a hyperlocal business, and you deserve detailed, professional consultation about your specific situation. Continue reading
I am genuinely encouraged by the trend shown by the Case Shiller indices and I hope and believe that the recovery will gain real traction this time. Continue reading
Looking at all sales adds high and low price extremes that were not in the sample a few days ago of sales near $200,000. This data shows even more clearly the huge variations around the metro area — Sold Price/SF in today’s sample ranges from $13 to $992! Continue reading
The tax is NOT a transfer tax on real estate sales and similar transactions. Read to see what it is. Continue reading
I am often asked, “What’s the average price per square foot in Austin?” Here’s the REAL answer! Continue reading
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
There are many websites that offer “automated” estimates of home value, but this important process still needs the human touch. If you’re considering the sale of your home, consult a professional, and choose carefully. 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
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
Bill Morris on Austin Real Estate 