Are Buyers Coming Back this Fall?
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Oldham Group Austin Update
Are Buyers Coming Back this Fall?
September 13, 2024
Are Buyers Coming Back this Fall?
The August residential figures have arrived! Some key points: homes are taking longer to sell, with the average days on market now at 70 days—a 12.9% increase from last year. We’ve also seen an increase in inventory, currently at 4.6 months, up 21.1% from last year. This change gives buyers more negotiating leverage, while sellers encounter increased competition.
Total Sales: Down -10.3% YoY, with 2,629 homes sold in August 2024 compared to 2,930 in 2023.
Pending Contracts: Slight decline of -2.4%, with 2,480 homes under contract.
New Listings: Dropped -4.2% YoY
Active Listings: Up +13.1% to 12,100 homes, providing buyers with more choices
Withdrawn/Expired Listings: Increased +12.5%, indicating challenges for sellers.
The available inventory of homes for sale inched down across the nation this week so it’s possible that the long stretch where inventory has been growing compared to a year ago is now over. With interest rates projected to go down, we may see a more active Fall with buyers entering in the market in Q4 rather than waiting until Spring.
For personalized insights and expert guidance on navigating the luxury market, contact Courtney.
Featured Properties
2609 W 49th Street
4 BD
3 BA
2,805 SF
$1,549,999
- Sold
A modern masterpiece in the coveted Rosedale neighborhood. This expertly remodeled home boasts of soaring ceilings that create an expansive and luxurious atmosphere. With over 70 windows, natural light floods every corner, highlighting the home’s exquisite design and attention to detail.
Listed by: Courtney Oldham, Compass RE
1623 Waterston Avenue
4 BD
3.5 BA
2,838 SF
$3,450,000
- Available
The Modern Bungalow of Clarksville. Elegant. Intentional. Harmonious. Located one block from Jeffrey’s, Josephine House and Fresh Plus Grocery, Cafe Medici, Taco Flats and 1/4 of a mile to Downtown Austin – the proximity of this home is second to none. This stunning 4-bedroom, 3.5-bathroom house, designed by Side Angle Side and built by Cobb Development, is a beautiful blend of craftsmen details outside with modern, luxurious finishes throughout inside.
Listed by: Compass RE
2004 E. 9th Street Unit A
4 BD
2 FB
1,511 SF
$650,000
- Sold
Nestled in the heart of the vibrant Blackshear/Prospect Hill neighborhood of East Austin, this charming two-story bungalow seamlessly blends classic character with modern updates. The property features newly renovated bathrooms, complete with contemporary vanities, elegant lighting fixtures, and stylish hardware, providing a luxurious and comfortable living experience.
Listed by: Courtney Oldham, Compass RE
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
What’s Happening
BBQ Fest
Texas Monthly is excited to bring TM BBQ Fest benefitting Feeding Texas back to Lockhart during the first weekend of November. The historical downtown will create the backdrop for the third annual BBQ World’s Fair on Saturday, November 2, and the Top 50 Picnic will return to Lockhart City Park on Sunday, November 3.
Dust Up Denim
Howler’s Dust Up Denim Snapshirts have been selling out arenas and kicking up dust for a minute now, and the act’s gotten even stronger with a dialed in fit. These 100% midweight cotton denim toppers sell out quickly due to their rugged nature and versatile style.
Contemporary Austin
Callie Milbrandt, Founder and CEO of Bloom by Callie, will lead you through a water aerobics class to tone and strengthen your muscles. Enjoy complimentary access to the pool for the rest of the day. The event is $35 per person and includes all-day access to the pool.
Drop In Dance Class
Nearly every type of dance is at your fingertips — or should we say toe-tips — at the Butler Center For Dance & Fitness. You can learn modern, contemporary, Hawaiian, West African, heels, hip hop, and more. Here’s the SCHEDULE.
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
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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.
