Mortgage Applications Up as Rates Dip

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The Oldham Group Austin | Courtney Oldham

Mortgage Applications Up & March Stats

April 14th, 2023

The Oldham Group Austin | Courtney Oldham

Mortgage Application Increase in
Response to Dip in Rate

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%
Resale Only
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.

Featured Listings

555 E. 5th Street #901

555 E. 5th Street #901

2 BD | 2 FB | Corner Unit | 1,389 SF
JUST LISTED
 
Welcome home to the 5FiftyFive located in the Residences at the Hilton! This spacious 2 bedroom and 2 bathroom condo is move-in ready with recently upgraded wood floors and paint. Floor to ceiling windows provide captivating views to the north and east. Entertain friends or relax with a cup of coffee on the wrap around porch! Connected to the Hilton Hotel, the residences have a private entrance with 24-hour concierge services, with access to restaurants, bars, and the Starbucks coffee at the lobby level.
 
Listed by: Courtney Oldham, Compass RE

3504 Arrowhead Drive

5 BD | 4 FB | 4,517 SF | $1,950,000
UNDER CONTRACT
 
Mid-century modern gem in Highland Park West! Incredible find with 1950’s architecture with vaulted ceilings, large windows, tons of natural light and spectacular views! Downstairs in the walk-out basement, oversized patio and 1/2 acre lot!
 
Buyer Representation: Courtney Oldham, Compass RE

3408 Stratford Hills Lane

5 BD | 5 FB | 3 HB | 1.23 AC | $5,200,000
AVAILABLE
 
Stunning sophistication in Stratford Mountain. This private estate is perfectly positioned on a generous 1.235-acre lot with views of Lake Austin from the spacious second floor balcony. Amazing attention to every detail – exquisite trim work, elegant iron details and resort-like outdoor spaces.Award-winning Eanes School district just minutes from downtown and Zilker Park.
 
Listed by: Courtney Oldham, Compass RE
12212 Brigadoon Lane #128

12212 Brigadoon Lane #128

2 BD | 2 FB | 1 HB | Corner Unit | $399,999
JUST LISTED
 

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

Milwood
3 BD | 3 BA | 1448 SF | $625,000
Southwest Austin
3 BD | 2 BA | 1250 SF | $1,999,999
Tarrytown
LOT 53 AND 1/2 OF 54 | $1,295,000
Round Rock
3 BD | 3 BA | 1820 SF | $399,995

What's Happening

After the Gold Rush

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

38 Restaurant Recs

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

Waterloo Greenway

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

Craft Beer Festival

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

WHAT IS YOUR HOME WORTH?

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.

The Oldham Group Austin | Courtney Oldham

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.

Thank you for your interest, we will be in touch shortly!

Team Oldham Group | Moving Austin Forward | Courtney Oldham