Housing Market Floods: What Record Inventory Levels Mean for You.
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Oldham Group Austin Update
Residential Inventory Floods Market
July 26, 2024
Inventory Levels Hit Record High
The Austin real estate market is experiencing an unprecedented surge in inventory levels, hitting a record high.
In June, the number of active listings skyrocketed to 14,727, marking a significant milestone for the region. This influx of homes has resulted in a highly competitive environment for sellers. The average list price stands at $792,403, with a median price of $525,000. Notably, homes in the luxury segment, make up 16.8% of the market, reflecting Austin’s growing appeal among affluent buyers.
This substantial inventory provides buyers with a lot of options, intensifying the competitive pressure on all listings. As a result, sellers must strategize carefully to make their properties stand out in a crowded market. While buyers are finally experiencing more choices and potentially more negotiating power, they also require sellers to be more aggressive in pricing and marketing their homes to attract attention.
For those interested in understanding how these dynamics affect their real estate decisions, diving into the specifics of current inventory trends is crucial. For personalized insights and expert guidance on navigating this unique market, contact Courtney, 512-809-5495 who can provide comprehensive details and strategies tailored to your needs.
Featured Properties
2609 W 49th Street
4 BD
3 BA
2,805 SF
$1,549,999
- Sold
A modern masterpiece in the coveted Rosedale neighborhood. This expertly remodeled home boasts of soaring ceilings that create an expansive and luxurious atmosphere. With over 70 windows, natural light floods every corner, highlighting the home’s exquisite design and attention to detail.
Listed by: Courtney Oldham, Compass RE
6203 Lost Creek Circle
5 BD
4 FB
4,675 SF
$3,695,000
- Available
This masterpiece blends timeless elegance with modern comfort, featuring expansive living spaces, a gourmet kitchen, and a luxurious primary suite. Plus, it’s located within the prestigious Eanes Independent School District, perfect for families looking to settle in before school starts.
Listed by: Compass Real Estate
100 Sequoyah Street
3 BD
2 FB
1,450 SF
$510,000
- Under Contract
Downtown Buda living! This updated 3-bed, 2-bath home with a bonus/flex room sits on over a half-acre corner lot with mature oak trees within walking distance to shops, restaurants, and festivals. Enjoy cool, shaded mornings under two large oak trees and breathtaking evening sunsets from the back patio and kitchen
Buyer Representation: Courtney Oldham, Compass RE
1412 Fairhaven Gateway
4 BD
2.5 FB
2,477 SF
$375,000
- Sold
Welcome to Fairhaven! This fabulous Georgetown community boasts of great amenities including a large pool with splash pad, pickle ball courts, playground, pavilion, walking trails. This gorgeous two-story home has an open-concept kitchen with oversized island, breakfast bar, exceptionally large pantry, granite counters, ample cabinets with crown molding & stainless appliances! Upgrades include vinyl plank flooring throughout the lower level, ceiling fans, blinds, alarm system, security door system and smart WiFi thermostats.
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
What’s Happening
Flo’s Wine Bar
Flo’s offers a comfortable spot for locals to gather and enjoy wine. The bar features a selection of 20 wines by the glass and around 200 bottles for retail, curated by Clemons, who has a background in the wine industry. In addition to wine, Flo’s also includes Allday Pizza, salads, meatballs, and gelato!
Art at The Loren
The Loren at Lady Bird Lake and The Contemporary Austin are proud to announce their collaborative partnership starting with the new Jones Center mural by Austin-based artist, Manik Raj Nakra. The Loren will be sponsoring the mural on the corner of Congress Avenue and 7th Street, which will be unveiled in early December.
Fastest Growing Counties
Texas is only getting bigger… Recent census data from 2020 to 2023 support this claim with a boom in population growth. According to the latest U.S. Census Bureau figures, Texas cities, counties and metro areas make up most of the top 10 lists of annual numeric growth.
Tecovas | The Abby
Sueded exotic Nile crocodile wraps the vamp and counter of this limited edition version of The Abby, and beautiful, thread-embroidered desert poppies climb its 17” bovine shafts. A classic “0” toe and 2” heel round out its tall cowgirl profile.
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.