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According to Mortgage News Daily, “Mortgage applications increased last week for the fifth time in six weeks. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of mortgage loan application volume, increased 5.3 percent on a seasonally adjusted basis compared to the previous week and was up 6.0 percent before adjustment.” Today’s prime rate is 6.39% for a 30 year fixed rate. Full MND article
Austin’s March Numbers
Single Family Sales
2023- 2,699 2022- 3,256 Change –17.1%
2023- 2,534 2022- 3,319 Change –23.7%
Average List Price
2023- $568,187 2022- $601,503 Change –5.5%
Median List Price
2023- $449,990 2022- $489,000 Change –8%
Average Sold Price
2023- $550,211 2022- $628,383 Change –12.4%
Median Sold Price
2023- $437,750 2022- $505,000 Change –13.3%
Days on Market
2023- 69 days 2022- 21 days Change +231.9%
Source: Austin Board of Realtors
Courtney’s Commentary: I’m experiencing strong demand for Austin’s most popular neighborhoods. In fact, it’s not uncommon to see multiple offers on homes especially in price points under $700K as that has become “entry level” for close in locations and are attractive to investors and first-time buyers alike. In the luxury price points, buyers are more price sensitive trying to make up some of the expense of higher interest rates. An average of 69 days on the market is indicative of both strong buyer demand and light inventory.
Want to know how today’s market conditions have impacted the value of your home? Let’s connect. 512-809-5495.
Beautifully remodeled corner unit townhouse with a great floor plan, soaring ceilings, huge walk-in closets and a fenced private yard. Open living area with a cozy fireplace and fresh laminate flooring that flows effortless into a dining area and upgraded kitchen. Every chef will love the stainless appliances, designer tile backsplashes, quartz countertops, fresh gray cabinetry and breakfast bar. Just minutes to the Domain and Arboretum!
Listed by: Courtney Oldham, Compass RE
April 1 – 30, 2023 -There is a burgeoning artist community in Austin doing incredible work. Check out The After the Gold Rush collection including Antonio Savarese’s Back of Beyond, Oil on Canvas, 24 x 24” is on display at Vaughn Art Agency + Gallery MORE
Austin’s Eater 38 aims to provide a restaurant recommendation for any situation. This list covers the entire city, spanning numerous cuisines and budgets, and collectively satisfies every restaurant need, from taco trucks to finer dining spots. These are the restaurants and food trucks that truly define Austin. ARTICLE
April 10-June 28 at the Moody Amphitheater at Waterloo Park Weekly Workouts at Waterloo are back! Join the fun as they kick off their FREE health & wellness series. All classes are FREE and open to the public! View the full schedule and RSVP at waterloogreenway.org/events
Saturday, April 15th | 12:00 PM
2023 Hill Country Craft Beer Festival 30+ Texas Hill Country Breweries will be serving up their best craft beers this Saturday at the 2023 Hill Country Craft Beer Festival! In attendance this year are Alstadt Brewery, Austin Beerworks, Ghost Note Brewing, Jester King, and more! TIX
Knowing what your home is worth is important information to have if you are thinking of selling your home. Call Courtney 512-809-5495 for a current pricing analysis and a customized strategy for selling your property in today’s market.
© Compass 2023 | 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.