ūüĖ§ Austin Luxury Prices Jump 24%, Pandemic Pool Frenzy & Rates Sub 3% ūüē∂

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Austin In the Luxury Club

Now one of hottest spots in the country, Austin has officially joined the luxury real estate destination list. Here’s a look at this week’s curated luxury news from all over the country.

Austin High Dollar Homes Jump 24% from 2020
High-end home prices jumped 14.3% year-over-year nationwide within the three months prior to April 30, the same tier of homes in Austin spiked 24%, the most of any area in the country.

Southern California Doesn’t Skip A Beat
Amid the current pandemic and social climate, Southern California saw more than 10 properties come to market for over $30 million within the past 30 days.
Hamptons Luxury Rental Market Skyrockets
As wealthy city dwellers flee to summer hot spots like the Hamptons, rental prices have soared with rates as high as $600,000 per month for luxury properties.

We are your connection to luxury¬†all over the country¬†through Compass’s Luxury Network. Want to see more luxury homes? Call Courtney 512-809-5495.¬†

Mortgage Rates Drop Below 3%

Mortgage rates dropped further this week. Specifically, the 30-year fixed mortgage rate fell to 2.96% from 2.99% the previous week. With rates at or below 3% for the last 8 weeks, more homebuyers benefit from these low rates

Meanwhile, layoffs continue to fall to their lowest level since the onset of the pandemic. In fact, Iowa (-6%), Kansas (-16%), South Carolina (-23%), South Dakota (-10%) and Vermont (-40%) reported fewer layoffs than pre-pandemic. 

As more people return to the workplace, the demand for housing is more likely to increase as Americans set their sights on homeownership.

Pandemic Pool Frenzy

Now that temperatures have hit triple digits, it’s pretty obvious why Austin’s hottest home outdoor amenity is a backyard pool. The pandemic has brought a huge wave of interest and increased desirability for stay-at-home entertainment, but homebuyers and owners should be prepared to pay a premium for a house with a pool or to have one installed. Not only will it cost more, but you’ll likely have to wait a while. Pool contractors were already busy with unprecedented demand when the Texas freeze came along causing tons of damage to pools and equipment putting¬† additional stress on an already tight pool market.¬†

Despite it all, we think a pool is worth the cost and wait. Especially in Texas…so dive on in!!¬†
Here’s are¬†75 Houzz Examples¬†of why you’ll want to put in in a pool!
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It doesn’t happen by accident! You can count on Courtney’s in-depth local knowledge, deep relationships and industry expertise to give you a competitive edge when it matters most.

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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.

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Team Oldham Group | Moving Austin Forward | Courtney Oldham