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The preliminary November data is showing Austin area price appreciation is flat and in some areas has moved to depreciation. Since price is a lagging economic indicator, it was just a matter of time before we started to see pricing correct, following leads, sales volume, listing inventory and days on market.
However, it’s good to note this price correction is not a free fall. Austin still has solid fundamentals. Job creation and population growth will continue to drive the need for residential housing.
Many buyers are ready to get back in the market. Some have been on the sidelines since the pandemic, and now that prices are cooling and interest rates are at a manageable 6.3%, this seems like the perfect window of opportunity – especially if they can beat the spring rush! There are more opportunities at better prices than we’ve seen in quite some time.
How does today’s market impact your future real estate plans? Let’s talk ☎️ 512-809-5495
5 BD | 5 FB | 3 HB | 1.23 AC | $5,495,000
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.
Ideally situated in a walkable neighborhood and award-winning Eanes School district just minutes from downtown and Zilker Park.
4 Lots | 2.1 to 3.9 Acres | Starting at $525,000
Incredible gentleman’s ranch in a private hill country setting. Mature trees, flat building areas, and gorgeous sunsets! Move into the cute guest house while you design and build your dream home! Bring your own builder. No timeframe to start construction.
Fabulous location just 20 minutes to downtown Austin and near popular Fitzhugh Road attractions like Treaty Oak and Jester King. Convenient to Belterra Village.
6 BD | 5 BA | 2 HB | 6393 SF | $5,795,000
Gracious living spaces flow in this ideal floor plan with six bedrooms, plus a separate office and gym. This breathtaking Westview home is the perfect destination for lively entertaining and busy daily life.
Exquisite designer details, lovely wall coverings, three fireplaces. Enjoy al fresco get-togethers on the covered patio surrounded by a pool, spa and spectacular new landscaping by GardenDesign Studio.
Listed by Phyllis Patek, Compass RE
.259 AC LOT | TARRYTOWN | $1,450,00
This is an incredible building opportunity in one of the most desirable neighborhoods in Austin, Tarrytown. It’s located on a walkable street across from Tarrytown Neighborhood Park with convenient access to Mopac. It’s all of lot 53 (.1778 acres) and half of lot 54 (.0814) for a combined .2592 acres. The current duplex structure has an A & B unit to provide rental income while building permitting is in process.
HOLIDAY MARKET AT HOTEL SAN JOSE
Saturday, Dec. 10 | 12-5 p.m. | Hotel San Jose, 1316 S. Congress Ave.,
Grab a Frosé and join the Hotel San Jose for this year’s Holiday Market in the courtyard, featuring tons of giftable items from Austin’s local vendors alongside food and drink specials such as a Coquito spiced rum and Hot Toddy, while jamming to tunes by DJ Sunset Canyon.
Start your December with a blast of holiday cheer by visiting Mozart’s Coffee Roasters’ iconic Christmas Light Show. There’s no better way to kick the jingle-bell spirit into overdrive than by grabbing a hot chocolate and cookie at this long-established city tradition featuring a musically coordinated display. Click here to learn more.
TRAIL OF LIGHTS
Now-Friday, Dec. 23 | 6-10 p.m.
Zilker Park, Barton Springs Rd.
The most beloved, and longest running holiday tradition of its kind in Texas’ capital city, Austin Trail of Lights powered by H-E-B, welcomes hundreds of thousands of guests from Central Texas and around the world each year for its jubilant displays of lights. Click here for more details.
Saturday, December 10th | 2:00 PM
Pease Park Conversancy presents Southern Lights, a winter solstice celebration that features the SnoRide SnoHill and SnoPatch, photo opportunities, book bus, crafting, dance classes, the Southern Lights sunset light show, musical performances by Summer Stock Austin and All Rhythms, and more. Click here to learn more.
If you want to discuss the real estate market and how it could impact the value of our home and your future plans, give me a call.
🍂 Courtney 512-809-5495
MORTGAGE: We have several trusted mortgage relationships to help you on your home buying journey. Please reach out to Courtney for the best fit for your needs. MORTGAGE REFERRAL
PROPERTY TAX PROTEST: Use a trusted professional, Home Tax Shield to protest your taxes. HERE
LUXURY DESIGN AND INTERIORS: We work with a wide variety of designers and would love to introduce you to a great partner.
© 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.