Austin’s Real Estate Resilience
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Oldham Group Austin Update
Austin’s Real Estate Resilience
April 12, 2024
Austin Real Estate Resilience
A long time ago, a wealthy client told me, “Never bet against the US!” While we are bombarded daily with negatives about our economy, we’re reminded that while our debt levels are unsustainable, and inflation remains sticky, we should also note:
- U.S. GDP grew 2.5% in 2023, significantly outpacing other developed economies…
- Inflation in Canada is 3.9% and 5.9% in Germany. While it’s 3.5% in the US.
- The US labor market remains resilient
- US equity markets are close to all-time highs
- The dollar remains strong. (CNBC)
Along with these other high notes, the Austin residential market has been incredibly resilient, continuing to stabilize. Here are the numbers from March.
- The Avg Sold Price in the Metro area saw a slight increase of +2.2% Year Over Year (YOY)r, while the Med Sold Price experienced a slight decline of -1.1%.
- Months of Inventory increased to 4.2 from 3.8 in March 2023 and 4.0 in Feb 2024.
- Avg Days on Market ticked down slightly to 68 days.
- Total Sales and Total Under Contract /Pending were relatively flat YOY.
- Mortgage rates remained stable in the high 6% / low 7% range.
Curious about what it would take to get your home sold?
Featured Properties
800 W. 5th Street #503
2 BD
2 BA
1,538 SF
$989,900
- New Price
This gorgeous Austin City Lofts residence has never been on the market…until now! Here’s your chance to enjoy the classic loft lifestyle and all this premium downtown location offers – walk to award winning restaurants, shop at luxurious galleries & boutiques, explore healthy eating at Whole Foods & Trader Joe’s and jump into the active lifestyle on Shoal Creek Trail & Lady Bird Lake. It’s all outside your doorstep! This gorgeous two bedroom, two bath unit has amazingly high ceilings, polished concrete floors, fabulous floor to ceiling windows and ample natural light.
Listed by: Courtney Oldham, Compass RE
1603, 1621, 1647, 1665 & 1670 Headwaters Blvd
80 x 145
$275,000
- Just Listed
Nestled in the sought-after Headwaters community of Dripping Springs, these 5 builder ready lots are available directly from the developer. The award winning neighborhood offers a unique blend of modern farmhouse architecture, picturesque parks, and an inviting community center boasting a dynamic lifestyle program. With miles of scenic walking trails and breathtaking Hill Country vistas, these lots present an unparalleled opportunity for builders ready to start construction. Catering to a discerning clientele, the homes within this development are anticipated to fall within the price range of $1.2 to $1.3 million. All builders welcome!
1011 Sunset Canyon South
4 BD
2.5 FB
2,952 SF
$900,000
- Pending
Welcome to your hill country oasis in Sunset Canyon, Dripping Springs! This exquisite modern home, built in 2008, showcases timeless Hill Country Craftsman architecture, blending seamlessly with its natural surroundings. Step inside to discover the warmth of rich wood flooring that guides you through the spacious interior with soaring ceilings and abundant natural light. Designed for relaxation and entertainment, the home features captivating porches where you can unwind and soak in the tranquility of the surrounding landscape. As you explore further, you’ll be drawn to the expansive 2.77 acre outdoor area, where a large pool awaits!
1412 Fairhaven Gateway
4 BD
2.5 FB
2,477 SF
$419,000
- New Price
Welcome to Fairhaven! This fabulous Georgetown community boasts of great amenities including a large pool with splash pad, pickle ball courts, playground, pavilion, walking trails. This gorgeous two-story home has an open-concept kitchen with oversized island, breakfast bar, exceptionally large pantry, granite counters, ample cabinets with crown molding & stainless appliances! Upgrades include vinyl plank flooring throughout the lower level, ceiling fans, blinds, alarm system, security door system and smart WiFi thermostats.
11921 Bittern Hollow
4 BD
2.5 FB
2,695 SF
$575,000
- Sold
Nestled in the Gracywoods neighborhood of North Austin, this charming two-story home epitomizes convenience and style! Step inside to discover a spacious haven boasting 2695 sq. ft. of living space adorned with gleaming wood flooring and gorgeous updates! Entertaining is a breeze with a separate dining and living areas, perfect for hosting intimate gatherings or festive dinners. Enjoy lazy afternoons or al fresco dining on the covered patio overlooking the lush backyard oasis on a large corner lot.
Listed by: Courtney Oldham, Compass RE
214 B Smoke Tree Circle
4 BD
3.5 BA
3,697 SF
$1,150,000
- New Price
New custom home built by Schwartz Custom Homes in the sought after Hilltop section of the award-winning Headwaters Community. Enjoy a three car garage, fine finishes, generous outdoor living spaces and views for days!! Dripping Springs ISD.
Listed by: Courtney Oldham, Compass RE
What’s Happening
Texas Edge
Y’all…this small business produces unique, and edgy Texas jewelry like bracelets and rings, Texas chokers, and even hair jewelry! I need this Austin Skyline piece!! The headquarters is in Plano so shipping is super fast!
Live Fire!
Live Fire!, Austin’s favorite cookout, returns with a dynamic lineup of chefs. This year, Live Fire! is celebrating global culinary traditions with a party showcasing open-flame cooking, premium wine and beer, and cocktail craftsmanship. Top-notch chefs from across the state will showcase the versatility of Texas beef!
Kite Festival
ABC Kite Fest, the largest and longest-running festival of its kind, will mark the 96th edition of one of the most celebrated gatherings of the Austin community! With kites flying at the center of festivities, guests will have access to a variety of fun, all-ages activities, as well as food and drinks from local vendors.
Just for Laughs
Moontower Just For Laughs Comedy Fest is delivering huge stars, fan favorites, comics to watch, and beloved local talent to Austin this April. The festival will span over a two week period and host shows around Austin featuring over 20 headliners and dozens more comics.
Ready to Make a Move
The first step is EASY! Call or text Courtney.
We’ll set up a time to carefully evaluate all options and put together the BEST plan & timeline for you and your family. We’ve helped thousands of clients navigate buying and selling in Austin over the last 17 years. We’d be honored to help you, your friends and colleagues.
Courtney Oldham
© Compass 2024 | All Rights Reserved by Compass | Made in NYC
The information contained herein does not purport to be complete nor, necessarily, accurate and should be independently verified; nor does it represent or constitute a legal analysis or financial advice. All of the financial projections and/or conclusions are provided for illustration purposes only. Compass and its agents disclaim any and all liability for representations and warranties, express or implied, contained in, or for omissions from, the information contained herein or any other written or oral communication transmitted or made available to the recipient. This represents an estimated sale price for this property. It is not the same as an opinion of value in an appraisal developed by a licensed appraiser under the Uniform Standards of Professional Appraisal Practice.
