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The Spring Residential Market in Austin in 2022 is tracking just slightly below the sales volume of 2021. The April numbers are still being tabulated, but if March is a leading indicator, these are the salient points for your real estate discussions and decisions:
The prices increases we saw in 2021 are nothing short of AMAZING. While it was an exciting year, those numbers are not sustainable. Historically, we were used to seeing Austin appreciate between 8- 10% annually and the appreciation numbers are now headed back toward the historical average rate. However, keep in mind that we’re still higher than normal by most measurements. Median Sold Price in the Metro increased +22.64% and +20.45% in the city.
In March of 2022 our total sales number decreased -10.5% in the Metro and -12% in the city when compared to 2021. This indicates a slight decrease in demand, which is likely tied to rising interest rates. When interest rates rise, there is a correlation to a decrease in inventory, sellers also choose not to sell.
As Austin economist Mark Sprague recently said, “You’re in the best market in the world.” You will fetch a high price for your home, but the gains over 2021 will be less than the gains from 2021 to 2020. With a well-designed and executed sales strategy, multiple offers and over list price are still the normal in highly-sought after areas. Call Courtney to discuss the specifics of your home and neighborhood.
The market remains very tight and competitive, but it is loosening up in some areas. It’s critical to do research in your submarket and to have a well-defined strategy to determine your offer price and terms in each situation. In prime locations, we are still seeing many homes go well over list in some instances but that’s not across the board.
2516 Simond Ave #A | Mueller
Buyer Representation | New Construction
7800 Southwest Parkway #410
Buyer Representation | Multiple Offers
Tyndall | Residence #216
1 BD | Study | 865 SF
EARLY BIRD ACCESS | VIP PRICING
Wellspring in Round Rock
Courtney has secured an exclusive opportunity for Oldham Group clients to review the Wellspring project BEFORE it opens to the public. The townhome community will feature over 200 residences and resort style amenities. Pricing will start in the $400’s and construction is slated to begin in Spring 2022.
RSVP to [email protected] for your VIP appointment.
Here are 5 Things I’m LOVING ❤️ this week!
CELEBRATE MOM 💐
Compass 20% Discount Code
A mother is someone who loves with all her heart…a Mother’s Day flower delivery is the perfect way to celebrate all the ones who have proudly earned the title, Mom. For them, make it a beautiful gift of flowers for Mother’s Day. With next-day and same-day Mother’s Day flower delivery, you can trust us to find a unique gift she’ll love. ORDER
State Natural Area in Fredericksburg Magical, Mystical, Enchanted: Climb the ancient dome for amazing Hill Country views. The massive pink granite dome rising above Central Texas has drawn people for thousands of years. But there’s more at Enchanted Rock State Natural Area than just the dome. The scenery, rock formations and legends are magical, too! RESERVATIONS
AUSTIN FIT MAGAZINE 👙
18th Annual Swimsuit Issue
The May issue of Austin Fit Magazine hit the stands! This is the magazine’s popular swimsuit issue, and I had the opportunity to model for the feature. It was a great opportunity to meet some incredible Austinites and to showcase Austin’s fit lifestyle! We shot at the Rowing Dock and on Lady Bird Lake. SEE SWIMSUIT ISSUE
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
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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.