Updates Friday May 6, 2022 | The Oldham Group

🌹 Mint Juleps, Mom & the Market 📈

The Oldham Group brings you Austin news, exciting events, homes for sales and uniquely fun things happening around greater Austin. Feel free to contact us at anytime to be added to our distribution list.

Austin Spring Market Update

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:

APPRECIATION

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.

INTEREST RATES

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.

LOWER SUPPLY

At last check there were just over 3400 residential units on the Austin area MSA. That number is about 30% of the the 9000+ we’re used to seeing but approximately 10% higher than the market low. This incredibly short supply coupled with slightly lower demand means that the market environment will feel relatively unchanged.

SELLERS

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.

BUYERS

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.

Do you have questions about your specific market or situation? We’d absolutely love to help! 📞 Courtney 512-809-5495

Under Contract

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

Sold

7800 Southwest Parkway #410
Buyer Representation | Multiple Offers

SOLD

Tyndall | Residence #216
1 BD | Study | 865 SF

Sneak Peek

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

AUSTIN EASTCIDER 🍺

The best cider comes from Texas! Could we move to an apple producing region, grow our own apples and make cider? Sure, but it wouldn’t be the delicious and complex cider we make today in good ol’ Texas. The most important thing to us is sourcing the best cider apples and using only high-quality natural ingredients. Check out the new Passion Fruit Flavor!

THE DERBY & MINT JULEPS 🌹

If you’re planning drinks for the Kentucky Derby, there’s really only one option: a mint julep. Fortunately, it’s a really easy cocktail to make. The “Greatest Two Minutes in Sports” will be run on this weekend. The 148th annual Kentucky Derby happen on Saturday, May 7th on NBC. Coverage begins at 2:30 ET. MORE

ENCHANTED ROCK 🥾

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

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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.