Updates Friday May 13, 2022 | The Oldham Group

📈 Subtle Market Shift? Hard to Feel in Austin 🤠

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Subtle Shift: Hard to Feel, Especially in Austin

The April 2022 numbers are in and across the United States, it looks like we saw the smallest decline in the amount of inventory since 2019! To put that in perspective, in March we saw a national decrease of in active listings of almost 19%. Indications of that number slowing down means that more housing inventory is VERY SLOWLY becoming available – that’s good news! In Austin, things are little different. Here’s why:

INVENTORY IN AUSTIN PROPER

If you look at our 5-County Metro area (the Austin MSA), it appears that our inventory numbers ticked up slightly in April. However, that number is a bit deceiving as it includes new home construction in the extreme suburbs. If you are a buyer in the Austin City Limits, the number of available homes is actually down approximately 13%.

SALES VOLUME DOWN

According to data from the Austin Board of Realtors, total sales decreased -16.09% in the Austin area MSA and -16.53% in the City of Austin. Along with limited supply, the driving forces behind this number are interest rates and prices. Higher interest rates are impacting buyers, especially at the entry levels. Prices have done nothing but go up and that’s STILL the case, effectively pricing some buyers out of the market.

WHAT DOES IT FEEL LIKE?

So what does all this mean…specifically here in the City of Austin? There’s still not a lot on the market to choose from which means that we’re still seeing lots multiple offer situations and prices are still headed upward. However, it does feel like things have cooled a bit, maybe a few buyers have been priced out of the market?

Real estate is both situational and specific. The national and local trends we cover in our newsletter are important to watch, but they are not a substitute for an individual consultation based on your specific neighborhood, market data, and personal situation.

If you’re thinking about a move, let us help you put the right strategy together. We’d love to help! 📞 Courtney 512-809-5495

Coming Soon

908 Nueces #28 | Celia’s Court
2 BD | 2 BA | 1249 SF | 1 Parking

Under Contract

2516 Simond Ave #A | Mueller
Buyer Representation | New Construction

Sold

7800 Southwest Parkway #410
Buyer Representation | Multiple Offers

SOLD

1101 Lakeside Drive in Wimberley
Buyer Representation | 13 Acres

Here are 5 Things I’m LOVING ❤️ this week!

TEXAS WHISKEY FESTIVAL 🥃
Star Hill Ranch
Friday, May 13th | 6:00 PM

This event will feature over 100 whiskeys from 36 distilleries. It doesn’t matter if you are an avid whiskey drinker or think you might like whiskey. You will have the opportunity to sample new whiskey, meet friends, and enjoy food, cigars, and music. Learn more here!

AUGUSTA VIN WINERY 🍷

Wine should be celebrated, experienced and enjoyed. Augusta Vin provides an opportunity to bring people together—with each other and with nature. At Augusta Vin, our mission is to set a new standard for the Hill Country winery. We hope to captivate you with superior hospitality and an unparalleled ambiance accentuated by our lush gardens and breathtaking natural views. MORE

TEXAS MONTHLY | HAT BARS 🤠

Always a source of inspiration, Texas Monthly published “Get a Feather in Your Cap at These Seven Hat Bars” by Jacqueline Knox. In the article, Knox tells all about the latest trends in custom hats including feathers, burning, charms and more! Photo courtesy of Teressa Foglia TEXAS MONTHLY ARTICLE

THOMPSON HOTEL OPEN 🛏️

Whether you come to lay back, lean in, or get immersed in the flavors and culture of the live music capital of the world, you know something memorable is about to happen at Thompson Austin. A place for locals and visitors to let loose poolside or at our restaurants and bars, where the luxe, contemporary vibe is signature Thompson. MORE

MIMOSA FEST 🍾

This year’s Mimosa Fest will be filled with champagne to celebrate life, yummy brunch options, live music, and much more. A few vendors will be present as well, such as CycleBar, Bryan Anthonys, and Fairy Fire Candles. It’s the perfect time to sip and shop for some great goodies! Click here to buy your tickets.

Refer a FRiend

MORE RESOURCES

OLDHAM GROUP PRESS:

Our latest mention in the Austin Business Journal

FULL ARTICLE

AUSTIN AREA MARKET STATS: For those who love a good spreadsheet, here are latest Austin market stats broken down by month and zip code. MARKET STATS

ULTRA LUXURY REPORT: Enjoy this complimentary compilation of the most prestigious properties Compass has to offer. LUXURY REPORT

CELEBRITIES ON THE MOVE: Here is the latest in celebrity real estate transactions. CELEB

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

Courtney Oldham

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.