Austin's Job Creation Fuels Demand & Stability
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Austin Job Creation Fuels Demand &
Stabilizes Housing Pricing
April 14th, 2023
Monthly Indicator Report Highlights Austin's Job
Creation, Demand and Stability.
A quick look at some national statistics…
- The median existing-home price for all housing types in March was $375,700, a decline of 0.9% from March 2022 ($379,300). Price climbed slightly in three regions but dropped in the West.
- Home prices continue to rise in regions where jobs are being added and housing is relatively affordable.
- Total housing inventory at the end of March was 980,000 units, up 1.0% from February and 5.4% from one year ago (930,000). Unsold inventory sits at a 2.6-month supply at the current sales pace, unchanged from February but up from 2.0 months in March 2022.
- First-time buyers were responsible for 28% of sales in March; Individual investors purchased 17% of homes; All-cash sales accounted for 27% of transactions; Distressed sales represented 1% of sales; Properties typically remained on the market for 29 days.
- Mortgage Rates, April 20, 2023. “After declining for 5 consecutive weeks, mortgage rates rose this week…to 6.39% from 6.27%.”
Source: National Association of Realtor Research
Courtney’s Commentary: The news in Austin this week was all about jobs! The Austin Chamber published their monthly Economic Indicator Report and Austin outperformed other Central Texas MSA’s – that performance is highly connected to job creation. Job creation drives demand and stabilizes residential housing pricing.
Want to know how today’s market conditions have impacted the value of your home? Let’s connect. 512-809-5495.
Homestead Exemption
DEADLINE TO FILE IS APRIL 30
An exemption removes part of the value of your property from taxation and lowers your tax bill. In order to qualify for the online Homestead Exemption filing, the property owner must have owned and occupied the property as of January 1st of the current tax year.
If you bought a home in 2022, or if you have never filed before or want to check your status, make sure to file your Homestead Exemption form by April 30th.
Featured Listings
3504 Arrowhead Drive
12212 Brigadoon Lane #128
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
3408 Stratford Hills Lane
555 E. 5th Street #901
2800 Joe DiMaggio #104
Listed by: Courtney Oldham, Compass RE
What's Happening
Field Guide Festival
Saturday, April 22nd | 1:00 PM
Fiesta Gardens Park
Foodies, this one’s for you! 30+ local chefs and farmers are coming together to create dishes exclusive to the Field Guide Festival using in-season produce. Your ticket includes all food and beverages so that you can try everything! Tickets
Travel & Golf
Come and experience where Palm Beach style meets breathtaking amenities. You’ll love the guestrooms, suites, and cottages at our reimagined resort. Plan early and soak up this special advance purchase offer and save up to 20% for your next getaway. Book
Old Settler's Festival
Here’s the lineup Old Settler’s Music Festival lineup for their 36th annual event taking place April 20-23, 2023, at the Old Settler’s Homestead, a 145-acre ranchland located at 1616 FM 3158 Dale, Texas 78616, less than an hour from Austin! Tickets
You Grill Girl!
Thursday, April 27th This female-focused celebration features some of Austin’s best chefs and grillmasters for a day of fun, feasting and fundraising at Franklin Barbecue. You Grill, Girl! is a one-of-a-kind culinary event that celebrates women and their passion for grilling. Tickets
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.
Courtney Oldham
- Broker Associate, Oldham Group
- 512.809.5495
- 512.575.3644
- [email protected]
© 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.
A Few Oldham Group Specialties
The Oldham Group is a team of real estate agents affiliated with Compass. Compass is a licensed real estate broker and abides by all applicable Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
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