May Market Update – Positive Inflation News & Strong Demand
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Oldham Group Austin Update
May Market Update
May 17, 2024
Inflation Eases for the First Time in Three Months
Good news!!! The most anticipated economic report of the month showed that inflation cooled down a little in April, bringing relief to investors and housing industry professionals. Consumer prices in April were up 3.4% from a year earlier, down from 3.5% in March, according to data released by the Bureau of Labor Statistics on Wednesday. The reading, which came on the heels of the past three stronger-than-expected CPI releases, aligned with economists’ forecasts.
Core inflation, the Fed’s preferred inflation measure, fell to 3.6% annually in April, down from 3.8% in March. The Fed’s target for core inflation remains 2%. On a monthly basis, the index increased by 0.3% in April, down from 0.4% in March.
This news is having a positive impact on mortgage rates. As of yesterday, the 10-year treasury rate was down only 3 bp from a week ago. The stock market is liking the news, too. All three indexes are showing gains of 0.5% or better as of yesterday. Housing Wire
Demand for housing in Austin remains strong. Homes are staying on the market a bit longer and in some cases, price reductions and/or buyer incentives are necessary to get a deal to paper and to the closing table. Showing activity has shown improvement over the last several weeks as we are in height of the spring selling season.
Looking for information and guidance on your specific home selling strategy reach out to Courtney
Travis County Park Acquisition
As a Board Member for the Travis County Parks Foundation, I’m pleased to share the recent acquisition of the RGK Ranch by Travis County Parks. The acquisition of this incredible 1,506 acres property off Texas 71 between Bee Cave and Spicewood was made possible by the voters’ approval last November of a $276 million bond for parks and land acquisition. This piece of property along with the separate purchase of the 475-acre Castletop property furthers the possibility of a parkland network running from Texas 71 to Hamilton Pool Preserve.
Thank you to the voters of Travis County, the Travis County Parks staff and to our elected county officials for your work in making Travis County an area rich with outdoor treasures than enhance our quality of life.
Texas Monthly Article and Austin American Statesman Article
Featured Properties
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
1741 Spyglass Drive, Unit 1-333
1 BD
1 FB
821 SF
$350,000
- Sold
Welcome to your Austin dream! Nestled right off Barton Creek, this 1 bedroom, 1 bath condo boasts a loft space, just minutes from downtown. Step inside to discover a meticulously updated interior featuring sleek wood flooring and a modern kitchen adorned with Corian countertops, under-mounted stainless steel sink, and new appliances. The top-of-the-line custom cabinetry ensures ample storage for all your culinary needs. Embrace the vibrant city life while enjoying unparalleled access to nature with the Barton Creek Trail and Zilker Park at your doorstep.
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
10902 Medfield Court
5 BD
3.5 FB
3309 SF
$925,000
- New Price
Within the charming Circle C subdivision of southwest Austin, this stately brick home exudes elegance. Positioned on a tranquil cul-de-sac, enveloped by mature trees, it offers a serene retreat. Upon entering, guests are greeted by luxurious travertine stone floors, a testament to the home’s quality craftsmanship. The primary suite boasts cherry wood flooring, providing a warm and inviting ambiance, while secondary bedrooms feature stylish seagrass flooring for added comfort. Don’t miss the exceptional screened in pato.
Listed by: 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.
1603, 1621, 1647, 1665 & 1670 Headwaters Blvd
80 x 145
$275,000
- Just Listed
Nestled in the sought-after Headwaters community of Dripping Springs, these 5 builder ready lots are available directly from the developer. The award winning neighborhood offers a unique blend of modern farmhouse architecture, picturesque parks, and an inviting community center boasting a dynamic lifestyle program. With miles of scenic walking trails and breathtaking Hill Country vistas, these lots present an unparalleled opportunity for builders ready to start construction. Catering to a discerning clientele, the homes within this development are anticipated to fall within the price range of $1.2 to $1.3 million. All builders welcome!
What’s Happening
Tea at Tillie’s
Join Tillie’s in Dripping Springs for a delight in a three-tiered spread of traditional English scones, dainty sweets and exquisite finger sandwiches, along with premium and traditional teas and refreshing sparkling wine.
Summer Drinks
As temperatures rise in Austin, staying cool while exploring the city can be a challenge. For those looking to escape the heat, local swimming spots provide a refreshing respite, while neighborhood bars and restaurants offer another way to cool down with their frozen cocktails.
Austin FC
Cheer on Austin FC this weekend as they face Kansas City in a thrilling game at Q2 Stadium. Experience the passion for soccer, indulge in local food and beverages during half-time, and join in the enthusiastic support.
Crawfish Boil
Join The Pitch for their third annual Neighborhood Crawfish Boil! Guests will be able to enjoy music, beer, games and most importantly, crawfish!
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.