On Trend Luxury, Spring Forecast & Cowboy Mardi Gras
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Oldham Group Austin Update
Luxury Trends, Spring Forecast & Cowboy Mardi Gras
February 2, 2024
What’s the Market Doing?
The Austin residential real estate market has been dynamic, often experiencing robust sales volume and price growth. Factors influencing the market include the city’s rapid population growth, fueled by job opportunities in the tech sector and a vibrant culture. The demand for housing has outpaced supply, contributing to rising prices. Additionally, low-interest rates and a strong economy have played roles in driving activity. However, in 2023 we experienced fluctuations as the fed raised rates and the economic conditions, softened. As we look to spring of 2024, we expect to see the impact of our normal seasonality, which means increased buyer activity and more inventory! Sales volume and prices are likely to increase.
If you’re ready to make a move, reach out to Courtney for a comprehensive sales strategy and/or buying approach.
On Trend in Luxury
1. Private sales in the art world are quite common and this phenomenon is being repeated in the real estate world, especially on the high end where some buyers and sellers like the quiet nature of these transactions that are not as widely known to the public. Want to know more about Austin’s private real estate market? Ask Courtney! She’s part of Austin’s most exclusive off-market networks.
2. More than 1,500 homes priced $10 million and above sold in 2023! Check out the Compass Ultra Luxury Report!
3. Closets in luxury homes are getting bigger and more expensive, as homeowners look to display increasingly extensive, curated fashion collections. Large closets that used to cost around $60,000-80,000, now are costing $200-300,000 as they grow in size and grandeur. A recent $1 million closet was a duplex with an elevator and spray-tan booth… chic! Search #luxurious closets, #celebrity closets or #dream closets for more!
Client Love
February, the month of love, and guess what? We’re head over heels for our clients! As your favorite real estate enthusiasts, we’ve got a sweet treat for you – a free market analysis! Cupid might be shooting arrows, but we’re aiming for property perfection. Whether you’re cozying up in your current home or dreaming of a new chapter, let us provide you with the latest market report that includes properties in your area which were recently listed or sold.
Featured Properties
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
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
14912 Cabrillo Way
2 BD
2.5 BA
2,304 SF
$615,000
- Sold
Impressive brick and limestone one-story home in the sought after Terra Colinas community in Lake Travis ISD. This one is better than new! It has an open floor plan with large living spaces, elegant interiors and stunning details like wide-plank hardwood flooring, designer farmhouse lighting and crown molding. The gourmet kitchen includes stainless appliances, shaker-style cabinetry with modern hardware, quartz countertops, recessed lighting and subway tile backsplash.
Listed by: Courtney Oldham, Compass RE
4503 Lyra Circle
3 BD
2.5 FB
1,736 SF
$450,000
- Under Contract
Introducing a Southeast Austin gem! It boasts of a tasteful brick exterior, a spacious backyard, and a complete remodel. Revel in the allure of the updated kitchen, adorned with sleek subway tile, stainless steel appliances, and new fixtures and lighting throughout. A perfect blend of comfort and style awaits in this meticulously crafted residence located just minutes from downtown Austin.
Listed by: Courtney Oldham, Compass RE
3700 Black Granite Dr
3 BD
2 BA
1,363 SF
$379,000
- Sold
Immaculately maintained and brilliantly upgraded- over $50k in landscape and exterior upgrades alone, plus smart home and security upgrades! Open concept, single-story floor plan and the backyard, complete with spa, was designed for maximum relaxation!
Buyer Representation by: Courtney Oldham, Compass RE
What’s Happening
ATX Open
Austin’s premier professional tour-level tennis tournament, the ATX Open, is bringing world-class women athletes and tennis action to town. The tournament is one of the first US-based events on the 2024 Hologic WTA Tour calendar.
Cowboy Mardi Gras
Cowboy Mardi Gras Celebration with great Cajun food and Zydeco music! Saturday enjoy all the colorful floats as they travel down Bandera’s main street in the Cowboy Mardi Gras Parade. Gumbo Cook-off on 11th Street, & Arts and Crafts on the Courthouse Lawn 10am-5pm.
Austin Flea
The Flea features all local handmade items and vintage wares from some of Austin’s most amazing and talented vendors. Find one-of-a-kind gifts for any occasion including jewelry, bath/body products, vintage, original artwork, paper goods, textiles, and more.
Diana Ross
ACL Live at the Moody Theater February 27, 8 p.m.
The icon herself will grace the stage at ACL Live. With a legendary career and incredible song book of hits, Diana Ross has been influencing popular culture and the music industry for decades.
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.
