The real estate market may be cooling, but only slightly. Recent statistics show new listings increased by 4% in the four weeks ending July 4 compared to last year, and they increased 3% compared to this time in 2019. This is the first time new listings data has surpassed pre-pandemic levels.If you’re worried you missed the sellers’ boat, don’t worry. Tim Ellis of Redfin Media says, “The market...
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Luis B. Torres, Wesley Miller, Paige Silva, and Jacob Straus (May 13, 2021) Total Texas housing sales fell 6.4 percent during the first quarter amid rising mortgage rates and weather-related disruptions that dampened business activity in February. Most of the quarterly decline was attributable to decreased resale transactions priced less than $400,000, offsetting elevated luxury home sales in the...
Along with its standing as a top market for domestic real estate investors, Austin is also considered a top market for foreign investors in 2021. A recent survey by the Association of Foreign Investors in Real Estate (AFIRE) ranked Austin as the most attractive market in the U.S. from a global perspective. The survey found that 30% of all respondents cited Austin as a top three market for...
Appraisals shooting up faster than a speeding bullet. Prices plowing through the pandemic like a locomotive. Values leaping by bounds in tall condo buildings. Look, up in the air, it’s Austin’s super housing market — and it will remain relatively sky-high for years to come, experts agree. More than a dozen economic and residential real estate experts interviewed believe this is not a...
Even a global pandemic couldn’t quell the demand for luxury homes in Texas. The number of homes in the Lone Star State that sold for $1 million or more jumped 23.5% between November 2019 and October 2020, according to the most recent Texas Luxury Home Sales Report released by Texas Realtors earlier this month. The report found that buyers closed on 6,347 homes listed at that price point in...
Don’t rely on your Zestimate for an accurate home value. Here’s why.
StoryBuilt is preparing to kick off its latest single-family community as the Austin area is seeing a record-low supply of housing on the market in part due to the Covid-19 pandemic. Pre-sales on the 12-home community — dubbed Clementine — in South Austin will begin Aug. 18. The modern farmhouses will be constructed on roughly two acres at 5107 Menchaca Road, south of U.S. Route 290. The houses...
This is how counteroffers work here in the state of Texas.
Tesla Inc. has picked Austin for its next big factory. CEO Elon Musk said July 22 the electric carmaker will build a gigafactory in Austin, ending weeks of speculation about whether the electric carmaker would pick the Texas capital or Tulsa, Oklahoma, for the project. Tesla intends to build a 4 million- to 5 million square-foot manufacturing facility on a site off the State Highway 130...