October Market Stats & Highlights

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The Oldham Group Austin | Courtney Oldham

Oldham Group Austin Update

October Market Stats & Highlights

November 17, 2023

October Market Stats & Highlights

October Market Statistics

The numbers from October are in! Here are the key highlights for our residential market:

  • Months of Inventory (MOI) crept up to 4.3 in the Metro and 4.5 in the city, which remains a balanced market.
  • Total Sales remain relatively unchanged, a sign that the market has stabilized on a YOY basis.
  • Pending Units increased +11.4%, a sign the market is marginally improving on a YOY basis.
  • The 2023 Pending Unit (demand) curve remains almost identical to 2019, which is the last normal market Austin experienced. While demand is certainly more sluggish than 2019, buyers seem to have settled back into pre-pandemic behavior. This means fewer buyers (and sellers) during the holiday season and predicts a return to the market in late Q1 / early Q2 2024
  • Avg and Med Sold Price declined -5.8% and -7.5% on a YOY basis, which is an improvement over the summer months.
  • The average lender at the lowest levels in almost 2 months. Top tier conventional 30yr fixed scenarios are safely back below 7.5%, but safety can only be assessed one day at a time in this market. That said, rates won’t get their next dose of critically important data until the first week of December.
  • Even though mortgage interest rates changed only slightly, the volume of mortgage applications moved higher for the second time in as many weeks. The Mortgage Bankers Association (MBA) said its Market Composite Index, a measure of application volume, increased 2.8 percent on a seasonally adjusted basis from one week earlier and was up 0.4 percent before adjustment.

If you’re a buyer
There will likely be Black Friday deals on real estate. A normal market experiences lighter activity over the holidays and we expect that to be the case this year. There’s no guarantee that the house that you love is on sale, but you can likely find better pricing at this time of the year.

If you’re a seller
If you must sell, it’s critical to do everything right and price aggressively. This can be stressful, but a great strategy will help alleviate that stress and get a deal done sooner than later!

Austin's Pickleball Craze

Austin's Pickleball Craze

It’s not just you…we’re seeing it too! Pickleball is everywhere in Austin…from the Hill Country to downtown rooftops, in coffee shops and now there’s even a new swanky pickleball club set to open in December. If you’re still watching, it’s time to pick up a paddle!

Dreamland- 16 dedicated, lighted pickleball courts, with leagues, clinics and open play every day and night.

Other Racquet Social Club – set to open to the public in mid-December at 2717 Manor Road, boasts a full-service bar, offering a selection of craft beers, cocktails, and non-alcoholic refreshments.

Bouldin Acres- Appetizers, burgers, drinks and Pickleball. Bouldin Acres has mastered the art of socializing the game!

Soul 5 – Wine, beer, and fun pickleball leagues are fun at Soul 5!

Texas Ranchers- The Austin professional team!

Featured Properties

214 B Smoke Tree Circle

214 B Smoke Tree Circle

4 BD | 3.5 BA | 3,697 SF | $1,199,000

OPEN SUNDAY 1-3

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

800 W. 5th Street #503

800 W. 5th Street #503

2 BD | 2 BA | 3,697 SF | $1,000,000

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

2316 Sully Creek Drive

2316 Sully Creek Drive

4 BD | 3.5 BA | 2,958 SF | $773,500

AVAILABLE

South Austin has never looked so good! This stunning property in the sought-after Bridges of Bear Creek neighborhood has it all! Gorgeous gourmet kitchen with tons of counter space, fabulous pool, amble outdoor living spaces and a detached studio!

Listed by: Courtney Oldham, Compass RE

14912 Cabrillo Way

14912 Cabrillo Way

4 BD | 2.5 FB | 2304 SF | $625,000

NEW PRICE

Impressive brick and limestone one-story home in the sought after Terra Colinas community in Lake Travis ISD. This one is better than new! It has an open floor plan with large living spaces, elegant interiors and stunning details like wide-plank hardwood flooring, designer farmhouse lighting and crown molding. The gourmet kitchen includes stainless appliances, shaker-style cabinetry with modern hardware, quartz countertops, recessed lighting and subway tile backsplash.

Listed by: Courtney Oldham, Compass RE

20751 Farm to Market 969

20751 Farm to Market 969

4 BD | 3 FB | | 2700 SF | $899,000

NEW PRICE

Incredible opportunity for beautiful 4.5 acre farm just 15 minutes from downtown Austin and 5 minutes from Tesla!! Gorgeous 2700 SF main house was carefully updated in 2023 – new roof, extensive kitchen and bathroom remodels including new cabinetry, quartz countertops, undermounted sink, gooseneck faucet, and appliances. The whole house was painted and the upstairs vintage reclaimed wood flooring was buffed, polished, and new luxury vinyl plank installed downstairs.

Listed by: Courtney Oldham, Compass RE

What's Happening

Take a Hike!

Celebrate National Take a Hike Day this Saturday, Nov. 17 by hitting one of the trails featured in the guide to Texas State Parks. If you want to stay a little bit closer to home, check out our hiking guide, which is organized in order of difficulty. Learn more about Travis County Parks.

Creek Show

November 10-18 | 6:00 PM – 10:00 PM Join Waterloo Greenway for 9 nights of dazzling, illuminated art along Waller Creek this fall. Since 2014, Waterloo Greenway has commissioned site-specific work by Austin-based artists, architects, designers, and landscape architects in collaboration with AIA Austin.

Cosmic Holiday

The Junior League of Austin (JLA) returns to Palmer Events Center November 15 – 19 for A Christmas Affair 2023: Cosmic Holiday. Blast off into the holiday season and join in the spirit of giving with the 48th annual holiday market benefitting The Junior League of Austin’s signature programs.

DropShot Tourney

The H-E-B Women’s Pro Tennis Open, part of the DropShot Series of Tournaments, at the University of Texas Campus! This tournament brings together professional athletes from around the world to compete for world tennis ranking points and a $25,000 purse! Admission is FREE of charge and this tournament will benefit the New Hope Animal Rescue.

Family Yoga

This holiday season, give your favorite park lovers something they’ll adore! Explore the Travis County parks merchandise collection and support the Travis County Parks Foundation and our parks with each purchase.

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The Oldham Group Austin | Courtney Oldham

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.

Thank you for your interest, we will be in touch shortly!

Team Oldham Group | Moving Austin Forward | Courtney Oldham