July 2019: Austin-area home sales break July records

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

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

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

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…
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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…
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December 2018: Record-breaking sales & housing affordability

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,…
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Record-Breaking Sales Continue

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…
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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.…
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Can Landlords Limit Certain Dog Breeds Because of Insurance?

Real Estate News
Q. I manage a property with a no-pets policy and am in the process of leasing it. The landlord decided to lease to a hearing-impaired tenant who is requesting her dog, a pit bull, be allowed as her assistance animal. The owner of the property has a homeowners insurance policy that prohibits "vicious" breeds, including pit bulls. What can the landlord do? A. Generally speaking, the landlord must grant a reasonable accommodation, unless an exception applies. An accommodation is unreasonable if it imposes an undue financial or administrative burden on a housing provider’s operations. According to a 2006 memo from the U.S. Department of Housing and Urban Development, if a housing provider’s insurance carrier would cancel the insurance policy, substantially increase the costs of the insurance policy, or adversely change…
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October 2018 “If Priced Correctly, It’s Going to Sell”

October 2018 “If Priced Correctly, It’s Going to Sell”

Austin Area, Real Estate News
Home Sales Start Strong in Fourth Quarter Early demand for single-family homes in the fourth quarter led to a record-breaking month of home sales for Central Texas, according to the October 2018 Central Texas Housing Market Report released today by the Austin Board of REALTORS®. Single-family home sales in the Austin-Round Rock MSA were the highest on record for any October, generating more than $900 million in sales dollar volume—another record for October. “Over the past several years, Austin's housing stock and home sales have become opposing forces that are widening our housing gap,” Steve Crorey, president of the Austin Board of REALTORS®, said. “We saw slight inventory increases across the market, particularly in the suburbs, but they’re not enough to offset ongoing demand.” Crorey added, “With the strong passage of the…
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