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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
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?
908 Nueces #28 | Celia’s Court
2 BD | 2 BA | 1249 SF | 1 Parking
2516 Simond Ave #A | Mueller
Buyer Representation | New Construction
7800 Southwest Parkway #410
Buyer Representation | Multiple Offers
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 🍷
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
OLDHAM GROUP PRESS:
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
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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.