Real Estate News – Sam Smith, Realtor

21Oct 2019 by admin

September 2019: Austin’s median home price reaches all-time high

Rewrite of land development code is necessary for housing solutions AUSTIN, TX – While the summer selling season has ended for most housing markets, the Austin Board of REALTORS® latest Central Texas Housing Market Report shows a double-digit percent increase in Austin home sales, which continue to outpace inventory and drive up home prices. The median price of a single-family home in the city of Austin rose 11.9% this month to $406,000––an all-time high for any September on record. “The adverse effect of low housing stock within the Austin area is higher home prices,” Kevin P. Scanlan, 2019 president of the Austin Board of REALTORS®, said. “As the anchor city of our region, Austin and its land use code directly impact Central Texas’ ability to meet buyer demands for more…

23Sep 2019 by admin

August 2019: Hot Market leaves Few Choices

Austin Area, Real Estate News

Increasing sales and decreasing home stock leave few choices for Austin residents As the summer-selling season came to an end, August Austin-area home sales continued to increase, while listings on the market decreased compared to the same month last year. The Austin Board of REALTORS® latest Central Texas Housing Market Report indicates the imbalance between supply and demand––which continues to drive up the cost of homes in Austin––will persist beyond this summer's sales activity. "While it's typical to see a decrease in housing inventory and listings at the end of the summer, the continued year-over-year decrease in supply is proof that Austin's housing stock is critically limited," Kevin P. Scanlan, 2019 president of the Austin Board of REALTORS®, said. "We’re encouraged by the City Council's stated commitment to creating more…

22Aug 2019 by admin

July 2019: Austin-area home sales break July records

Austin Area, Real Estate News

Austin-area home sales set an all-time high for any July on record, as sales last month increased 11.7% to 3,439 home sales, according to the latest Central Texas Housing Market Report from the Austin Board of REALTORS®. Despite the record, home sales within the city of Austin remained flat due to limited housing inventory. "Regional single-family home sales posted strong gains this July, indicating the summer selling season is likely to remain active and steady throughout August," Kevin P. Scanlan, 2019 president of the Austin Board of REALTORS®, said. “It’s a sellers’ market right now. Even though we saw an increase in new listings, inventory remains low. Homes located inside city limits are spending less than one month on the market, on average." Jim Gaines, chief economist at the Real…

19Jul 2019 by admin

June 2019: Dip in Austin’s Home Sales May Indicate New Trend

Austin Area, Real Estate News

Central Texas home sales increase in first half of 2019; decrease in Austin AUSTIN, TX – Single-family home sales experienced strong gains in the Austin-Round Rock Metropolitan Statistical Area (MSA) but declined in the city of Austin in the first half of this year, according to the June and Midyear 2019 Central Texas Housing Market Report released today by the Austin Board of REALTORS®. "We have seen slight dips in Austin's home sales before, but because this decrease is over the course of six months, it could be indicative of a larger trend," Kevin P. Scanlan, 2019 president of the Austin Board of REALTORS®, said. "Austin's limited housing inventory—which dropped below two months in June—and increasing home prices have resulted in fewer sales over time. As Austin continues to be one of…

25Jun 2019 by admin

May 2019: Lack of Mid-Market Housing in Austin Leads Buyers to Suburbs

Austin Area, Real Estate News

Austin's median home price hits all-time high amid declining inventory AUSTIN, TX–The median price of a single-family home reached an all-time high of $407,400 in the city of Austin—setting a new record for the Austin Board of REALTORS®’s monthly housing reports. But at the same time, the May 2019 Central Texas Housing Market report shows declines in the city of Austin for both new and active listings, as well as a 3.4% drop in home sales. The same wasn’t true, however, for the surrounding areas, which all experienced strong gains. "A lack of middle-market housing in the city of Austin is driving demand to the suburbs," Kevin P. Scanlan, 2019 president of the Austin Board of REALTORS®, said. "While the Central Texas housing market is healthy and thriving, Austin continues…

17Apr 2019 by admin

March 2019: Single-family homes sales fall in Austin as inventory remains critically low

Austin Area, Real Estate News

A new land development code is crucial for addressing housing market concerns AUSTIN, TX–City of Austin home sales dipped as the median price of a single-family home rose, according to the March 2019 Central Texas Housing Market report by the Austin Board of REALTORS®. At the same time, housing inventory remained critically low, and homes continued to spend less time on the market. "Because Austin’s economy is thriving and the city continues to remain one of the most popular living destinations in the country, the housing market remains extremely tight," Kevin P. Scanlan, 2019 president of the Austin Board of REALTORS®, said. “In March, new listings, active listings and pending sales all declined, but the median price increased. We need a solution to the ongoing affordability and inventory crisis, which is why…

14Mar 2019 by admin

February 2019: Statistics Point to an Early Spring

Austin Area, Portfolio, Real Estate News

AUSTIN, TX– Central Texas REALTORS® sold more homes than any February on record last month, indicating the spring selling season may have started early this year. According to the Austin Board of REALTORS® February 2019 Central Texas Housing Market report, sales increased by 6 percent from February 2018 to February 2019 to 2,101 sales. This increase was matched with both a rise in active listings and housing inventory, signs that the Austin Metro housing market this year continues to move toward greater balance. "We've been hearing from our members that buying and selling activity has really picked up over the past month," Kevin P. Scanlan, president of Austin Board of REALTORS®, said. "We're seeing a lot of development in North Austin, as major tech employers are looking for space with ample room…

22Jan 2019 by admin

December 2018: Record-breaking sales & housing affordability

Austin Area, Real Estate News

Record-breaking sales in the Central Texas market underscore the need for greater housing affordability AUSTIN, TX– Rising property values and increased demand led to an all-time high in sales dollar volume in 2018 as shrinking affordability spread across Central Texas, according to year-end data in the latest Austin Board of REALTORS® (ABoR) report. Central Texas REALTORS® sold 30,713 homes in 2018, generating $11.9 billion in sales dollar volume, the December and Year-End 2018 Central Texas Housing Market Report found. “2018 was the highest-grossing year on record, and for the first time ever, the median price for single-family homes in the Austin-Round Rock MSA (metropolitan statistical area) stayed above $300,000 for 10 consecutive months,” Kevin P. Scanlan, the 2019 Austin Board of REALTORS®president, said. “While much of the region is benefitting from these higher numbers,…

27Dec 2018 by admin

Record-Breaking Sales Continue

Austin Area, Real Estate News

Austin-area housing market on track for record-breaking sales AUSTIN, TX–As single-family home sales continue to rise, another record-breaking year is expected for the Austin-area housing market, according to the latest monthly report from the Austin Board of REALTORS®. The November 2018 Central Texas Housing Market Report released today suggests another strong showing for the region. "Sales are up 3.3 percent year-to-date for 2018,” Steve Crorey, president of the Austin Board of REALTORS®, said. “Pending sales volume in December, the Central Texas housing market is on track to have one of the highest-grossing years on record." Austin-Round Rock MSA In the Austin-Round Rock Metropolitan Statistical Area (MSA), sales volume slightly increased 0.7 percent year over year from 2,185 sales in November 2017 to 2,201 sales last month. Sales dollar volume increased 5.6 percent year…

30Nov 2018 by admin

Getting Ready to Move? This Checklist Should Help!

Buying, Home Care Tips, Real Estate News, Selling

Moving Checklist The best way to organize your move is to set your move-in date then use this guide to keep you on track from two months right up until you move. If you wait until the last minute, you might find yourself stuck renting a U-Haul and begging friends to tote your boxes for pizza and beer. There’s a better way. First, determine your move date, then get busy with this checklist. 60 days before move date: Sort, purge and donate – Make sure you only move things you want, need, and use. Start by tossing out anything damaged, donate what can be, give away items, and purge the unusable. Find a mover – The process is more intense for a long-distance move, and it pays to start early.…