It seems the numbers are starting to be fairly consistent from day to day so this will be the last daily update. I will, of course, chime in every few days or when the numbers show something interesting. Yesterday, Thursday, April 2, the number of new listings added to the MLS was 194. That seems like a big number in our current situation, but it is just 3% higher than last Thursday. However, when compared to the corresponding Thursday from last year, the number is down 43% (339 in 2019). For the week ending … [Read more...]
Dave Ramsey’s Financial Peace University
I am one of Dave Ramsey's Endorsed Local Providers for real estate in the Austin area. Given the economic hardship that many are feeling, he is giving free access to his Financial Peace University course. While the course generally takes 9 weeks, the free access is granted for two weeks and you can watch everything during that time. If you would like more information, please visit here. If you have any questions about Dave or his programs, I'm happy to answer them. I've taught FPU before and am well-versed on Dave … [Read more...]
Coronavirus Market Stat Update 11
The number of new listings added to the MLS yesterday, April 1, was 148. That was down 8.6% from the corresponding Wednesday from last year. For the week ending yesterday, the number of new listings was down 21% from last year. The number of contracts from Tuesday, March 31, was 69, less than half of what it was on the corresponding Tuesday last year (150). For the week ending Tuesday, the number of contracts was down 40% from last year. Withdrawn and 'temporarily off market' were 9 and 34 respectively. No … [Read more...]
Real Estate is an Essential Business
Governor Abbott declared real estate an essential service yesterday. Here are my thoughts on the matter. The video transcript can be found below if you'd prefer to read the update. Greetings, I’m Craig Smyser with 1835 Realty. Yesterday, Tuesday, March 31, Governor Abbott signed an executive order that clearly defines essential services and activities here in the great state of Texas. Included on that list is residential real estate services. This order supercedes local orders such as those that the city of … [Read more...]
Coronavirus Market Stat Update 10
The number of new listings in the MLS yesterday, Tuesday, March 31, was 95. That was down 9% from last week and down 10% from a year ago. Comparing the past week to the same week a year ago, the number of new listings was down 17%. The number of new contracts on Monday, March 30 was 126. This was up 5% from the prior week, but down 32% from the corresponding Monday in 2019 (with our strong seller's market, Monday tends to be the day with the most contracts signed). For the week ending on Monday, the drop in … [Read more...]
Coronavirus Market Stat Update 9
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...]
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...]
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