Tag: Austin real estate market

Construction Projects Call Underdeveloped Section of Round Rock Home

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As Austin expands, so does its surrounding neighborhoods. Developers are looking for open spaces they can turn into homes and businesses to keep up with the high demand. Recently, they’ve set their sights on a previously empty corner of Round Rock.

Near the intersection of County Road 110 and University Boulevard, homebuilders are beginning plans to construct 1200 single-family homes. In the same area, another company is petitioning to bring nearly 150 acres of duplexes, multifamily, and single-family homes. A majority of the Round Rock neighborhood is developed land or currently undergoing developments, so it’s no surprise that builders are looking to the northeast as the site of their new projects.

Residences aren’t the only project lined up for the area. Commercial spaces have also been zoned off for the 356-acre plot of land KB Home Lone Star Inc. is using for the massive subdivision. 11 acres along University Boulevard are zoned for retail, office, and other uses with a maximum building height of five stories. The other 345 acres will go to a variety of single-family homes that will appeal to a mix of homeowners.

Across from the KB Homes, a 190-acre plot of land has been zoned for Scott Felder Homes. The residential and commercial development will feature single-family homes, apartments, townhomes, duplexes, and some other commercial buildings that haven’t yet been specified.

University Boulevard will soon be a flurry of hammering, sawing, and other construction noises in order to have enough homes to fill the growing need to live in a suburb that makes it easy to commute to Austin.

If you too are thinking about moving to the outskirts of the city, but aren’t sure where to begin, I’m happy to help you. There are a lot of growing areas that may be exactly what you’re looking for, so give me a call and let’s talk neighborhoods!

Your Summer Home Maintenance Checklist

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Your to-do list always seems to have some kind of home maintenance project on it, especially when a new season begins. Between your pool days and backyard BBQs, make sure you work consistently on the upkeep of your home. Not sure where to start? Luckily, we’re here to help.

 

  1. Check the smoke and carbon monoxide detectors in your home. It’s recommended that you do this once a month, so be sure you’re always putting this at the top of your checklist.
  2. Prep your air conditioner. The sweltering heat means that your A/C and fans are going to be working hard to keep you cool. Be sure you keep units clean and switch out the filters once a month in order to make sure there’s no disastrous break down and that they’re operating at peak performance during the few months you need them.
  3. Keep your grill clean. It may have been months since the last time you fired up the outdoor cooker for burgers and steaks, so give it a deep cleaning. The burnt residue of last year’s forgotten hot dogs won’t improve the flavor of this year’s hot dogs.
  4. Give yourself a porch worth perching on this summer. Dirt and debris can accumulate on your porch, especially after a harsh winter. Sweeping and mopping your porch can do a lot to refresh the atmosphere and make it the perfect place to enjoy those summer evenings.
  5. Detail your deck. It’s important to hammer in any nails that are coming up and could cause someone to trip. Check for rotting and see if it might be time to reseal it.
  6. So mulch to do for your garden. Mulch keeps weeds down and can help your plants retain the moisture that the summer sun tries to take from them. You should also find time to get rid of the dead foliage and let your plants focus their energy on the healthy parts of the garden that are trying to bloom. Train your garden for the hot and dry days by setting up a new watering schedule. Water a few times a week with more water than you usually add rather than watering them lightly every day. It helps promote strong and deep roots.

 

We hope this summer checklist won’t interfere with any of your plans and will make your house the hub for all the season’s best get-togethers. If you or a loved one are looking for a new neighborhood that offers everything you need for a fun family summer, we’re here to help you find that dream home!

Austin-area Home Demand is Strong, but Median Price Stalls Slightly – What This Means for Real Estate Investors

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Strong first-quarter home sales in the greater Austin area continued into April, according to the most recent Central Texas Housing Report released by the Austin Board of REALTORS®. However, the Austin-Round Rock MSA’s first quarter home sales were tempered with a stalled median home price increase of just .2% during that period. This figure is significantly lower than in the same period in previous years.

“Between 2012 and 2015, we saw price increases as high as 9%,” said Kevin P. Scanlan, 2019 president of the Austin Board of REALTORS®. “These narrower margins are a strong indication that market prices are starting to stabilize.”

Home sales volume continues to rise in the greater Austin area, and it was up 14.9% to 3,035 sales. Surprisingly, new listings were down 1.8%, but active listings increased 1%, another opportunity for Austin-area real estate investors.

Pending home sales in the greater Austin area spiked to 14.3%, while months of inventory hovered at 2.4.

According to the Texas A&M Real Estate Center, a “balanced real estate market” is defined as six months worth of home inventory. With housing supply hovering at 2.4 months, the greater Austin area remains a “seller’s market,” meaning that it is generally more favorable to sellers/owners due to a reduced supply of homes.

However, with the median home price tapering, there appears to be some stabilization and a silver lining for investors who are considering investing in Austin-area residential real estate, especially while interest rates remain low.

Regardless of your situation, TALK Property Management is always here to help, even if you just have a question about the real estate investments in the Austin area. Or, if you’re considering selling your investment property or if you know someone who is, contact our TALK Property Management today. We are always here to help.

State of the Greater Austin Real Estate Market Update 2018

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The greater Austin real estate market continued to show signs of strong growth at the end of 2018, and the consensus is that this will continue into the foreseeable future with some market normalization.

In the Austin-Round Rock Metropolitan Statistical Area (MSA), sales volume slightly increased year over year from 2,185 sales in November 2017 to 2,201 sales in November. Meanwhile, the median home price rose 2.2 percent year over year to $301,391.

New listings were on the rise for the five-county MSA, up 1.7 percent year over year to 2,380 listings in November. During the same period, active (on-market) listings increased 11.5 percent, and pending sales rose 2.5 percent, indicating larger inventory levels but also more buyers to absorb part of that increase. Monthly housing inventory increased to 2.7 months of inventory (6 months of inventory is considered a “balanced market,” meaning that neither buyers nor sellers have an advantage.

The number of days (on average) that a house spends on the market increased 3 days to 64. Over time, this figure has continued to slowly grow, indicating a rise in both inventory levels and the time it takes for a home to sell.

“Families and young professionals continue to move to the suburbs where there are more opportunities for home ownership at a more reasonable price point than in the city of Austin,” said Steve Crorey, president of the Austin Board of REALTORS®. “While home sales growth isn’t as rapid in the city, demand is still strong. Analysts predict Austin will be a market to watch in 2019.”

The moral of the story? Today is still a great time to buy and sell real estate in the greater Austin area. If you have any questions about how this information affects your real estate portfolio, please reach out to me anytime. I’m always happy to help.

Austin-Area Home Sales Set October Record

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Despite a dip in September, the Austin-area housing market rebounded big time in October. In fact, according to the October 2018 Central Texas Housing Market report released by the Austin Board of REALTORS®, both home sales and sales dollar volume were the highest on record for any October. These record highs suggest a strong demand for single-family homes around the Austin-area and, while inventory did slightly increase around the area, there is still not enough supply to support the demand. What should you know as both a current and potential investment property owner? Here’s a look at the details:

Luxury houses in North America

  • Austin-Round Rock MSA
    • 2,347 home sales – a 4.3 percent increase from October 2017 AND the highest number of sales for any October
    • $900 million in sales dollar volume – an 8.8 percent increase year-over-year
    • $308,355 median home sales price – a 7.5 percent increase from October 2017
    • 2,871 new listings – a 3.7 percent increase year-over-year
    • 7,434 active listings – an 8.2 percent increase year-over-year
    • 2,444 pending sales – a 2.8 percent increase from October 2017
    • 2.9 months of inventory
  • City of Austin
    • 735 home sales – a 7.8 percent increase year-over-year
    • $343 million in sales dollar volume – an 11.9 percent increase from October 2017
    • $377,000 median home sales price – a 3.7 percent increase from October 2017
    • 878 new listings – a 5 percent increase year-over-year
    • 1,643 active listings – a 5.4 percent decrease year-over-year
    • 711 pending sales – a 2.2 percent decrease from October 2017
    • 2.1 months of inventory
  • Travis County
    • 1,176 home sales – a 6.2 percent increase year-over-year
    • $537 million in sales dollar volume – a 10.9 percent increase from October 2017
    • $358,540 median home sales price – a 5.5 percent increase year-over-year
    • 1,417 new listings – a 5.1 percent increase year-over-year
    • 3,374 active listings – a 1.2 percent increase from October 2017
    • 1,198 pending sales – a 3.3 percent increase year-over-year
    • 2.6 months of inventory
  • Williamson County
    • 780 home sales – a 0.5 percent decrease year-over-year
    • $242 million in sales dollar volume – a 3.3 percent increase since last October
    • $281,250 median home sales price – a 4.5 percent increase year-over-year
    • 963 new listings – a 2.6 percent decrease from October 2017
    • 2,595 active listings – a 12.2 percent increase year-over-year
    • 835 pending sales – a 2.1 percent increase from October 2017
    • 2.9 months of inventory

Do you have any questions about the local housing market? As a longtime REALTOR® and property manager in the Austin-area, the TALK Property Management Team is always here for you. Contact our team anytime!

Are you thinking about buying an investment property? We would be happy to help! Contact us today to get started and learn more about our property management services!