What’s Happening in Austin Real Estate in 2024?
The Oldham Group brings you Austin news, exciting events, homes for sales and uniquely fun things happening around greater Austin. Feel free to contact us at anytime to be added to our distribution list.
Oldham Group Austin Update
Happy New Year
January 5, 2024
Texas Bright Spot in the Nation
As we excitedly move into a new year, I often get asked what I see on the horizon for the Austin economy and for the residential real estate market. Here’s an overview from economist Bill Adams at CoAmerica.
Texas was a big beneficiary of trends that swept the US economy in the early years of the pandemic. Americans moved from big coastal cities to Sunbelt suburbs, where businesses expanded and added jobs, household incomes and spending rose, and property markets boomed. The energy industry’s rebound reinforced these trends in Texas.
Most of the above mentioned positives lost momentum in 2023. Texans are likely to throttle back on consumer spending on the back of higher interest rates and cost of living pressures. The Fed’s tighter monetary policy has rippled through to more expensive mortgages and construction loans, big headwinds for homebuilders and house sales. Furthermore, in-migration is slowing, since would-be Texans are less eager to sell homes in other parts of the country and accept a higher interest rate on a new mortgage. The energy industry remains a bright spot, with U.S. energy production rising to record levels in late 2023.
While Texas’s economy will be cyclically slower in 2024, it will still grow substantially faster than the national economy. The Lone Star State’s economy is likely to gain momentum in the latter half of 2024, as inflation slows to a more normal rate, the Federal Reserve cuts interest rates, and inward migration reaccelerates. Full Article
What Does this Mean for YOU?
Here’s how these macro trends are showing up for buyers and sellers in our local residential market:
Buyers: Here’s your opportunity to lock in a little lower price, you have more leverage and negotiating power than you have in recent years. However, inventory is somewhat limited so you might need to be patient and selective. Off market properties continue to be a popular path to ownership. Contact Courtney of off-market opportunities in your area.
Sellers: It’s back to basics. Your home WILL sell in this market as there is still healthy demand. However, buyers are looking for a good deal and a high quality property. The old adage, “we have to win the price war AND the beauty contest” holds true in this environment.
Featured Properties
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
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
8554 Sommery Lane
4 BD
2.5 BA
2,085 SF
$380,000
- Sold
Just 5 miles east of downtown Round Rock, Wellspring is a boutique, gated community of 1 & 2 story homes featuring a resort amenity center, maintained private yards, three distinct finish schemes, and a wide variety of floor plan options.
Buyer Representation by: Courtney Oldham, Compass RE
214 B Smoke Tree Circle
4 BD
3.5 BA
3,697 SF
$975,000
- Sold
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
$915,000
- 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
20751 Farm to Market 969
4 BD
3 BA
2,700 SF
$899,000
- Sold
Incredible opportunity for beautiful 4.5 acre farm just 15 minutes from downtown Austin and 5 minutes from Tesla!! Gorgeous 2700 SF main house was carefully updated in 2023 – new roof, extensive kitchen and bathroom remodels including new cabinetry, quartz countertops, undermounted sink, gooseneck faucet, and appliances. The whole house was painted and the upstairs vintage reclaimed wood flooring was buffed, polished, and new luxury vinyl plank installed downstairs.
Listed by: Courtney Oldham, Compass RE
Coming Soon
SUNSET CANYON
4 BD, 2.5 BA in Sunset Canyon South. Acreage, pool and view.
STEINER RANCH
4 BD, 2.5 BA Killer deck with Greenbelt views.
SOUTHEAST AUSTIN
3 BD, 2.5 BA, 10 minutes to downtown & fully remodeled
Call Courtney at 512-809-5495 for details on these new opportunities
What’s Happening
Secret Food Tour
Friday, January 5th | Times vary
Navigate past the tourist traps and into the best restaurants on this secret tour where you’ll learn about the history of Austin’s unique cuisine. This experience will be truly memorable!
Pink Floyd Laser Show
Friday, January 5th | 7:30 PM
Pink Floyd Laser Spectacular is a multimedia show featuring the original music of Pink Floyd, carrying fans on a mind-expanding journey driven by cutting-edge laser, lighting, and video effects.
Live Music
Saturday, January 6th | 5:30 PM
Grab your family and friends and join Central Market for their weekly free live music on the patio! Pick up some bites from the store or café and sit out in the patio to enjoy the live music.
Vintage Sale
Saturday, January 6th | 8:30 AM
Get ready to explore thousands of timeless treasures at the city-wide vintage sale at Palmer Events Center all weekend long! Guests can expect to find racks of unique clothing, interior decor, and more.
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 2025 | 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.
