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Mortgage rates peaked at 7.5% a couple weeks ago and are staying stubbornly high. Rising mortgage rates mean rising inventory…but home prices are staying pretty stable. Most years, available inventory of unsold homes on the market peaks in August. This year inventory is still climbing, sales are happening and Austin’s resilience continues.
Things to keep in minds as we navigate the fall market:
Buyers
Rates are likely to be in the high 6’s to low 7’s for the foreseeable future…prices are stabilizing in most areas so take this opportunity to review the additional inventory and pick the BEST home possible for your money. You’ve got options!!!
Sellers
We are incredibly lucky to be in Austin, Texas! Our job creation numbers and inward migration numbers remain high which means buyers are out there! Homes that are priced well and tip-top shape are still selling. It’s taking a bit longer with a few more concessions but deals ARE getting done!
Your Home
If you’re thinking of selling, this is the perfect time to meet with Courtney and put a strategy in place. She can expertly advise you on make ready, timing and pricing that will work for the nuances of this market. Call for a free listing consultation, 512-809-5495.
800 W. 5th Street #503
2 BD | 2 BA | 3,697 SF | $1,050,000
JUST LISTED
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
214 B Smoke Tree Circle
4 BD | 3.5 BA | 3,697 SF | $1,199,000
JUST LISTED
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
555 E. 5th Street #901
2 BD | 2 FB | Corner Unit | 1,389 SF | $799,999
AVAILABLE
Welcome home to the 5FiftyFive located in the Residences at the Hilton! This spacious 2 bedroom and 2 bathroom condo is move-in ready with recently upgraded wood floors and paint. Floor to ceiling windows provide captivating views to the north and east. Entertain friends or relax with a cup of coffee on the wrap around porch! Connected to the Hilton Hotel, the residences have a private entrance with 24-hour concierge services, with access to restaurants, bars, and the Starbucks coffee at the lobby level.
Listed by: Courtney Oldham, Compass RE
20751 Farm to Market 969
4 BD | 3 FB | | 2700 SF | $990,000
AVAILABLE
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
14912 Cabrillo Way
4 BD | 2.5 FB | 2304 SF | $650,000
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
2601 Sixpence Lane
5 BD | 3.5 BA | 2764 SF | $535,000
NEW PRICE
This gorgeous home on an oversized, corner lot in the coveted Commons at Rowe Lane has all the bells and whistles including a Generac home backup generator, solar panels, gorgeous outdoor living with spacious patio, pergola and storage barn! Inside you’ll enjoy an open floor plan with four beds, three baths and ample entertaining and dining spaces! The home boasts a spacious open concept kitchen with granite countertops, tile backsplash and stainless appliances, perfect for family meals and entertaining guests.
Listed by: Courtney Oldham, Compass RE
Truluck’s made a move just a block away to 300 Colorado St. The new restaurant has a sophisticated new bar, a second-story patio offering panoramic views of downtown Austin, and an upgraded state-of-the-art kitchen…so ready for that miso-glazed sea bass!!!
The Loren at Lady Bird Lake is excited to announce the launch of our annual Guest Chef Series in Austin. Going on it’s fifth year, The Loren Guest Chef Series was established to showcase unique ingredients and traditions, and share with both visitors and locals through immersive dining experiences with celebrity chefs.
The 37th Annual AIA Austin Homes Tour is one of Austin’s premiere fall events. The self-guided, curated tour showcases both new builds and newly renovated homes designed by local, best-in-field architects. This year’s program features nine homes by these award-winning architecture firms.
The bar located within the Austin Proper hotel became open to the public in May, exuding the ambiance of a European salon. Located on the second floor, customers can experience stunning views while indulging in the refined ambiance, perfect for savoring a classic spritz, enjoying live music, and sharing delectable French-inspired snacks.
Knowing what your home is worth is important information to have if you are thinking of selling your home. Call Courtney 512-809-5495 for a current pricing analysis and a customized strategy for selling your property in today’s market.
© Compass 2023 | 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.
The Oldham Group is a team of real estate agents affiliated with Compass. Compass is a licensed real estate broker and abides by all applicable Equal Housing Opportunity laws. All material presented herein is intended for informational purposes only. Information is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to accuracy of any description. All measurements and square footages are approximate. This is not intended to solicit property already listed. Nothing herein shall be construed as legal, accounting or other professional advice outside the realm of real estate brokerage.
© 2023 The Oldham Group
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