The number of new listings that were added to the MLS on Monday, March 30 was 124. That number is higher than last Monday and higher than the average Monday over the past four weeks. But, as I mentioned in yesterday's update, it is time to start comparing to year-ago periods. Because the day of the week has a big impact on the numbers, I am not comparing March 30, 2020 to March 30, 2019. Instead, I'm comparing March 30, 2020 to April 1, 2019 as it is the closest Monday. When comparing in this way, the number of new … [Read more...]
Archives for March 2020
Proud to Support HopeAustin
I'm proud to be a supporter of HopeAustin! This great organization used the moving truck a few days last week to distribute more food than usual and the truck made a background appearance on KVUE. To learn more about HopeAustin, watch the video then visit here to see how you can help. … [Read more...]
Coronavirus Market Stat Update 8
The number of new listings added to the MLS yesterday, Sunday March 29, was 57. That is a high number for a Sunday - in fact, a 16% increase compared to the average for the past four Sundays. Of course, we are now heading into a time of year when we expect more listings to come to the market. When I started out tracking these numbers on a daily basis, it was just to see how we were changing day-to-day and week-to-week. However, as it stretches on, I believe I need to start comparing the numbers to this time same … [Read more...]
Coronavirus Market Stat Update 7
The number of new listings posted to the MLS yesterday, March 28, was 86 which is a drop of about 28% from the two prior Saturdays. Given the time lag in agents changing the MLS status for homes under contract, I use a rolling count from Tuesday to Friday and compare to the same days in the four prior weeks. The drop in contracts is 28% from last week, 35%, 44%, and 39% for each of the weeks preceding. The number of homes withdrawn from the market yesterday was a surprisingly low 2. The number of homes changed to … [Read more...]
Coronavirus Market Stat Update 6
The number of new listings in the MLS on Friday, March 27 was 183. Compared to the average of the prior four Fridays, that is down 37%. Because agents don't timely change the status of homes that go under contract (something I will never understand), I look at the four days prior to yesterday to get a good idea of the number of contracts. Looking from Monday to Thursday, there were 354 contracts. Comparing to the average of the prior weeks using that same four-day period, the number of contracts is down 39%. … [Read more...]
Coronavirus Market Stat Update 5
Taking a look at the stats from yesterday, March 26, the number of new listings in the MLS was 188, which is down about 30% from what we have seen on Thursdays over the past month. While that is a notable drop, it is also still a large number of homes hitting the market during the shelter-in-place order (the vast majority of these listings are Williamson and Travis). The number of contracts is, as I've mentioned before, harder to qualify because of the lag time so many agents have in changing the status. If I go … [Read more...]
Coronavirus Market Stat Update 4
Yesterday, March 25, was the first day the area was officially under Shelter-In-Place orders. So how did that impact real estate? Well, we saw more new listings (188) hit the market on a Wednesday than we have in the month since I've been tracking this number daily. The number of contracts signed yesterday currently shows as 47, but given the time lag of agents reporting this, I expect that will rise to 55 or 60, which is by far the lowest of any day over the past month. The number of withdrawn listings was 20, the … [Read more...]
Coronavirus: Shelter-in-Place Order
Shelter-in-place orders were issued by the City of Austin, Travis County, and Williamson County. In this video, I explain how it impacts real estate in the area. Hint: you can't go tour those houses today. If you'd prefer to read my update, the transcript can be found below the video. Greetings, I'm Craig Smyser with 1835 Realty. Well, it's happened. The Shelter-in-Place orders have been issued by the City of Austin, Travis County, and Williamson County. So, we’re going to take a look at the impact on real … [Read more...]
Coronavirus Market Stat Update 3
Yesterday, Sunday, March 22, 60 new homes were listed in the MLS which is about 50% more than the preceeding Sundays. While the homes coming to the market isn't slowing, the number of them going under contract is a different story. While there is a bit of a lag with some agents changing the MLS status, it appears that the number of contracts over the last several days has dropped about 30% from the same time frame in the prior weeks. I expect that Austin/Travis County will go into full stay-at-home … [Read more...]
Coronavirus Market Stat Update 2
Yesterday, Saturday the 21st, 111 new homes were listed in the MLS which is consistent with what we've seen over the past several Saturdays. I find that agents often lag a bit in changing a status to indicate a house is under contract so I like to wait a few days before posting the contract numbers. However, based on numbers from Wednesday, Thursday, and Friday, the number of new contracts has dropped about 25% compared to those same days in the weeks prior. The number of sellers taking their homes … [Read more...]
Coronavirus Market Stat Update
Yesterday, Friday the 20th, 293 new listings hit the market in the Austin area. That is just two less than the previous Friday. We continue to see the number of homes coming to the market not dropping as we get deeper into the coronavirus situation. The number of homes put under contract in the early part of the past week is also consistent with what we've seen on the market recently. Because of the lag time in marking homes as under contract, it will take a few more days to see how the end of the week … [Read more...]
Coronavirus Update: Mortgage Deferrals, Foreclosures, & Evictions
In this update about coronavirus and real estate, I discuss mortgage payment deferrals, halting of foreclosures, and the Texas eviction stoppage. If you'd rather read than watch, the transcript is below the video. https://youtu.be/97pyZR3Hido Greetings! I'm Craig Smyser with 1835 Realty. Over the last couple of days, I've provided some updates about how the coronavirus is impacting real estate here in Central Texas. Those have all dealt with the current market situations for buyers and sellers and … [Read more...]