The number of homes sold in February 2019 increased compared to February 2018 mark both when excluding and including new construction sales.  Resale home sales rose 6.4% while all single family home sales increased 7.5%.  Parts of Austin have seen a lower than usual inventory level, likely causing the homes to sell faster and for an amount closer to the list price.  You'll see this demonstrated as the days on market have dropped and the list price to sales price ratio has increased. You can find additional sales … [Read more...]

The number of resale homes that sold in January, both in Texas and the U.S., dropped in 2019 compared to 2018.  Down 5.3% and 9.3% respectively.  Often with a slowdown like that, we'd expect to see low inventory levels.  Inventory across Texas, however, is up 14.7% while the U.S. inventory is up 3.7%.  So why are sales slowing?  According to economist Lawrence Yun, while we've had several months with inventory increases, the lower end of the market is having the greatest shortage.  Mortgage rates are also … [Read more...]

Not a lot to report this month since we only have the home sales from January to compare.  While the pace of sales slowed, it was very minimal, dropping less than one percent when comparing resale homes.  Even when we include new constructions homes, the decrease is 3.4%, or 57 homes.  The decrease could be the result of lower inventory during the winter months but it causes prices to continue to rise.  The median price of a resale home increased 3.3%, while all homes (includes new construction) increased … [Read more...]

The 2018 real estate market has come to a close.  Across Texas, December sales slowed compared to December 2017, down 6.9%.  Despite the slow sales in December, annual sales for Texas were up 1.7%.  Also, while we've experienced lower inventory in some areas around Austin, Texas had 11.6% more homes offered for sale in December compared to a year ago.  Now, if we take a look at the U.S. real estate market, it follows a similar pattern.  The number of homes sold dropped (11.6%), while the median price and inventory … [Read more...]

December is typically a quieter month for home sales and that rings true for December 2018 compared to the year prior.  Both when existing home sales, and when we include new construction sales in our figures.  Resale homes saw an 11.4% drop, while there was a 10.7% slow down when we include the new construction home closings.  Now, when we compare all of 2018 to 2017, we still have a dip in resale homes sold.  2018 sold 0.6% fewer resale homes, which is just 136 homes.  For some areas around Austin, we've seen … [Read more...]

My website has been updated to include December 2018 home sale data . Everyone can view summery data or if you register (it's free!) you can access the address, sales price, and other information for home sales in Steiner Ranch, Avery Ranch, River Place, and other Austin neighborhoods. If you'd like to know how the market is performing in your neighborhood, contact me today to discuss.  And if you have any thoughts of buying or selling in the coming year, I'd love the opportunity to earn your business.  Contact … [Read more...]

The November sales statistics in Texas mimic those we saw here in the Austin area.  The pace of sales slowed while prices increased.  The number of resale homes that sold in November was 25,054, down 3.1% from November 2017.  The median price of a home rose 4.3% to $230,000.  Find the remaining sales stats on the chart below.  Here you can find sales statistics for the Austin area for comparison.  If you or someone you know has any real estate related needs, I'd love the opportunity to help.  Please contact me to … [Read more...]

November 2018 sold 87 fewer resale homes than in November 2017, down 5.2%, while the year overall dropped 1.0%, 227 fewer homes.  New construction homes helped outpace those same time periods, not by a lot though.  While the number of resale homes dipped, the median price of a resale home jumped more than 5.0% during November and 6.0% on a year-to-date basis.  Below are the remaining sales stats for November. Sales data for Texas and the U.S. will be available soon.  Be sure to check back around the 28th of the … [Read more...]