Courtney Oldham
- Broker Associate, Oldham Group
- 512.809.5495
- 512.575.3644
- [email protected]
🏠 Is Austin Insulated? 📈
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.
The impact of a shifting market can be felt differently in the same city or even in the same neighborhood. This is experienced both at a micro and macro level. The National Observer: Real Estate Edition, published an article entitled How the US housing market is shifting, by region this week. The article highlights how in-migration, job growth, and inventory play a role in how a market will stand up against inflation and interest rate increases. Here’s what I’m watching in Austin.
MORTGAGE RATES
Today Freddie Mac’s benchmark rate for a 30-year fixed rate mortgage is 5.51%, up 0.21 percentage points from last week. We expect mortgage rates to land in the ~6% range if there are no surprises from the Fed. We’re already seeing mortgage companies react with buy down programs and other incentives to keep buyers in the market. With more inventory to choose from and innovative loan options, buyers can finally jump in!
JOB CREATION
According to Opportunity Austin, there have been 28 relocation and 47 expansion announcements with companies pledging to create 7,669 jobs in 2022. If that pace continues, we would end the year with 18,406 jobs announced. The latest headline grabber is the 295,000 SF CelLink factory in Georgetown. Add this to a mind-blowing 2021 that included Tesla, Samsung, Meta and others.
DIVERSIFICATION
The diversity of companies relocating to Austin amazing! We’ve long been known as the Silicon Hills with plenty of tech jobs but today’s announcements include automobile manufacturing, the life sciences, finance and even hydroponic produce. The diverse job base adds to the city’s ability to withstand a shift.
RESIDENTIAL INVENTORY
The June numbers are in and we continue to be in a sellers’ market. We have 2.3 months of inventory, a normal market is closer to 6 months. We are expecting to see even more inventory come on the market so things will likely become more balanced in the coming months.
IN-MIGRATION
Relocations and expansions mean more jobs and people. Not all of these newcomers can buy as rising prices and interest rates have put some on the sidelines. However, demand for the hottest Austin neighborhoods remains strong with continued price increases. Other areas of the market are starting to correct.
INSULATED?
It starts with jobs! Austin is one of the nation’s hot spots for a large number of diverse corporate relocations and expansions. With a healthy amount of in-migration, we continue to see demand for Austin real estate. Sales volume is slowing, largely due to higher interest rates. Overall it remains a strong sellers’ market but with more opportunities for buyers to jump in.
Let’s talk about your summer real estate plans.
📞 Courtney 512-809-5495
NATIONAL ICE CREAM DAY
WHOLE FOODS MARKET – LAMAR
Whole Foods Market has teamed up with New York Times Bestselling children’s book author and mom Camila Alves McConaughey for a delicious National Ice Cream Day celebration. Whole Foods is bringing a fun pop-up ice cream experience to Austin shoppers on National Ice Cream Day, Sunday, July 17 at 11 AM. MORE
SOUND OF MUSIC
ZACH THEATER
ZACH THEATER
The hills are alive in this intimate and modern reimagining of the beloved musical. The Von Trapp Family comes to life in a ZACH360 experience where The Topfer is transformed into a lively biergarten. Maria’s sunny nature and passion for music bring joy and laughter back into the grieving Von Trapp home. MORE
MARBLE FALLS PRO RODEO
CHARLY TAYLOR ARENAThe Marble Falls Pro Rodeo will be held on Friday, July 15th – Saturday, July 16th, 2022 in Marble Falls, Texas. This Marble Falls rodeo is held at Charles Taylor Arena. Get your jeans starched and your boots polished, it’s Rodeo Time! MORE
BROOKLYN BAGEL SHOP
7800 S. FIRST AUSTIN TX
In 2017, Ryan and his wife Jessica made the decision to leave New York and move to Austin. During his time working at the Peached Tortilla, Ryan became inspired by owner Eric Silverstein’s own story and it sparked the idea to open a breakfast sandwich trailer. In 2019 that dream became a reality. YUMMY!
BREEZE BLOCKS
CLAY IMPORTS
CLAY IMPORTS
Besides being pretty to look at, these architectural pieces can actively raise your comfort level. Their main purpose is to balance the impact of sunlight and provide welcoming ventilation. We love how our blocks define space – outdoors and indoors. Use it as a partition wall, a focal point or as a bar face! MORE
Sold
5413 Meg Brauer Way
Village of Western Oaks | 3 BD | 2 BA | 1624 SF
Sold
908 Nueces #28 | Celia’s Court
2 BD | 2 BA | 1249 SF | $750,000
Just Listed
Rim Rock View
LOT 1 | 3.69 Acres | $575,000
New Price
3602 S. 2nd Street
Galindo | 3 BD| 2 BA | 1399 SF | $915,000
Under Contract
2516 Simond Ave #A | Mueller
Buyer Representation | New Construction
Thank you to our friends @1708Media for capturing some summertime fun on camera. We covered the incredible Travis Heights Neighborhood and featured a beautiful Jack Boothe Construction new build.
Check out 1135 Gillespie Austin TX 78704. Call me to schedule an appointment to see it!
Can’t wait for y’all to see the next episode!
MORE RESOURCES
AUSTIN AREA MARKET STATS: For those who love a good spreadsheet, here are latest Austin market stats broken down by month and zip code. MAY 2022 MARKET DATA
FINAL JUNE 2022 REPORTS coming soon
BUYER GUIDE: It’s not easy buying in a market with rising prices and limited inventory. We can help you through the process. BUYER GUIDE
SELLER GUIDE: How do you make sure you get the most money for your home? From pricing to marketing, we’ll customize a plan to ensure you get the most money for your home. SELLER GUIDE
© 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.
© 2024 The Oldham Group
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