Austin Real Estate Market Still Brisk in 2015
January 15, 2015 by Laura Duggan · Leave a Comment
The Austin real estate market continues to be one of the healthiest in the country. Our January Market Report, a compilation of last year’s numbers, shows the statistics by price range and zip code so you can check out your particular neighborhood and price range. Although there are 7.45% more homes on the market now than last year at this time, the inventory of homes is still slim and real estate agents all over town are scratching to find good listings for their buyer clients. Now we have just under 5000 homes on the market compared to the 9000 homes we had on the market at the end of the years 2008-2010. Consider that we now have 1.8M people in our area, so the pressure continues to build on the housing market here. Home prices and rents are still rising with the demand.
In his annual forecast, Angelo Angelou, a local economist with AngelouEconomics, reported that 66,000 people moved to Austin in 2014 and that 39,100 jobs were created primarily in the professional and business service sectors, and the hospitality industry behind that. He projected that Austin will add 69,400 new jobs in 2015 and 2016. Even though housing prices are up, the average cost being almost $300,000, our population and job growth are fueling the economy and driving the home market rather than creating a bubble once driven by speculation. However, water, traffic and affordability are issues that could dampen the outlook in the future.
In it’s recent post, Best Buy Cities: Where to Invest in Housing in 2015, Forbes.com called Austin the #1 city to invest in the housing market because of it’s population growth rate 0f 8.9% between 2010-2013, its 3.6 annual job growth rate and it’s vibrant tech scene.
As always, the real estate market is constantly changing. We continue to research the market each month and plot the statistics so that we can predict trends, helping our clients make the very best real estate decisions. You’ll find our Market Reports posted each month on our website at WestAustin.com
Katy Freshour, Gail Boston and I would like to wish you a very happy and healthy 2015. It would be our pleasure to assist you in any way with your real estate needs.
Posted by Laura Duggan, President, West Austin Properties, 3312 River Road, Austin, TX 78703, 512-750-2425, homes@westaustin.com
Austin’s Real Estate Market Report: September 2014
September 12, 2014 by Laura Duggan · Leave a Comment
As summer ends and fall begins, we are starting to see a change in the seasonality of the Austin real estate market. What has been a hot, hot, summer and actually a hot last two years of of real estate, defined by multiple offers, increased sales prices, low inventory and increased demand, has in the past two months shifted. The past two months have shown us that the Austin market may have reached its peak for the year, as prices, inventory and demand start returning to Normal.
In March of 2012, the overall Austin market began to move from a Normal to an Extreme Sellers Market. This shift created high demand for the limited homes for sale and caused home values to rise. The rise of demand and home values continued for almost 28 months. However, two to three months ago, the Austin market began to slow, and home values began to stabilize overall. While the Austin market is still a Seller’s Market overall, it is clear that the market is changing. Each Price Range and Zip Code have their own characteristics. For the most recent statistics for your neighborhood, check out our latest MARKET REPORT.
While we are currently still in an overall Extreme Sellers Market, the Months of Inventory is rising and we are getting closer to moving from an Extreme Seller’s Market to a Normal Sellers Market. In three months, the Months of Inventory have moved from 2 months to 2.6 months. Overall, it is now less of a Seller’s Market than last year at this time.
- Very few homes are now for sale under $100,000.
- There remains a strong demand for home prices from $100,000 to $400,000 and home values continue to slowly increase.
- Homes priced over $700,000 are entering a Balanced Market, with over 6 Months on Inventory; which means home values are holding steady. However, sellers are not currently seeing this market shift to normalcy and are still expecting home values to increase. This is causing many sellers to price their homes above market value.
- Last month, 6 homes sold out of 205 for homes priced over $2 Million,
- In the last two months, zip codes that are in an Extreme Sellers Market have decreased from 15 to 11.
- For the third month in a row, June through August, fewer homes sold this year than sold last year. For the fourth month in a row, May thought August, fewer homes are for sale than last year. For the last ten months in a row, from November to August, the number of Pendings have been lower than last year.
- The Median price of a home in Austin has been continuing to rise for 28 straight months, since March 2012. However, for the last two months, the Medium price has fallen below the Median price of June 2014.
- The Average price of a home in Austin has been continuing to rise for 29 straight months, since February 2012. However, for the last two months, the Average price has fallen below the Average price of June 2014.
- The Average days a sold home was on the market was at its lowest level in six months from February to June of this year. During the last two months, July and August, Days on Market are higher than last year during the same two months.
Buying and selling in this market requires a deep understanding of the history and pressures in each area of town and price range. We hope the West Austin Properties Advance Market Report, with detailed information by price range, zip code and area, helps you make the best decision for you and your family. It is our pleasure to deliver it to you so together we can spot trends and prepare for the future. Please contact us if we can provide you any additional information; Laura Duggan, West Austin Properties, 512-750-2425 or laura@westaustin.com.
July Event Calendar: Our Top 5 Austin Events!
July 1, 2014 by Laura Duggan · Leave a Comment
Austin Symphony July 4th Concert and Fireworks
Who: Austin Symphony Orchestra
What: H-E-B Austin Symphony July 4th Concert and Fireworks
When: Friday, July 4th
Where: Circuit of The Americas
Cost: Free
Spend this Independence Day with thousands of your closest friends and your Austin Symphony Orchestra at the beautiful Circuit of The Americas (COTA)! While Auditorium Shores is under renovation, COTA has generously offered to host the Austin Symphony Orchestra’s July 4th concert and fireworks. Thousands of Central Texans will hurry to claim prime viewing with the Austin Symphony Orchestra this July 4th for one of the largest Independence Day Celebrations in the state. The spectacular H-E-B Austin Symphony 38th Annual July 4th Concert and Fireworks is planned, produced, and performed entirely by the Austin Symphony Orchestra, with the help of our generous sponsors. Tens of thousands of families will be decked out in red, white, and blue and heading to COTA’s award-winning Austin360 Amphitheater for an amazing event complete with a fireworks display, symphonic patriotic classics, and even a little auto-themed music for the race fans in attendance.
COTA will host a variety of fun, old-fashioned July 4th holiday activities, including interactive games and contests for the whole family, starting at 6:00 PM. The orchestra will perform at 8:30 p.m., followed by “mile-high” fireworks at approximately 9:30 p.m. The event is free and open to the public.
Capital City Comic Con
Location:
The Palmer Events Center
900 Barton Springs Rd.
Austin, TX
Parking:
Parking at the event center is $7.00 per day.
Convention Hours:
* Friday July 11th 11:00am-7:00pm
* Saturday July 12th 10:00am-7:00pm
* Sunday July 13th 11:00am-6:00pm
* VIP Entry 30 Minutes Early
Capital City Comic Con will take place at the Palmer Events Center, in downtown Austin, Texas. International artists, comic book dealers, and original art with over 250 artist alley tables. Capital City will also feature 100+ vendor booths, panels, celeb area and an art auction for various charities. Cosplay will be the main attraction, so make sure to dress accordingly! Kids under 12 are free, food trucks are nearby and also local breweries will be showcased.
Bastille Day Festival
SATURDAY, July 12, 6-10pm with Christine Albert’s French Band
The French Legation Museum on San Marcos Street will host a Bastille celebration on behalf of the Alliance Française D’Austin with live music, dancing, contests, jugglers, face painting and other exotic antics. Expect to find your share of French-inspired fare, including pate, baguettes, macarons, eclairs, wine, beer and a host of other bites, beverages and pastries.
Proceeds from this Fundraiser go to Scholarships & cultural events.
July 21-27, 2014
Make plans to dine out during the seventh annual GO TEXAN Restaurant Round-Up! Local restaurants from all over Austin will be featuring the flavors of Texas as GO TEXAN restaurants highlight the finest Lone Star food and wine. Participating restaurants include: 24 Diner, Arro, Taco Deli, Trudy’s, Cafe Josie, Chez Zee, Easy Tiger, Olive and June, Parkside, Searsucker and many more! Restaurants also will be making donations to food banks across the state.
To see a list of all of the participating Austin restaurants: Click HERE
The Wildflower Center goes all out Sunday, July 27 to honor their founder, Lady Bird Johnson, and all she has done for our nation’s treasured environment. Admission will be FREE for visitors. Enjoy exhibits, children’s activities and more during extended hours from 9 a.m. to 5 p.m.
Lunch, drinks, snacks and ice cream are available in the Wildflower Café.
SPECIAL PROGRAMS FOR THE WHOLE FAMILY
Participate in crafts in the Visitors Gallery.
A one-day only silent auction will be held of books from Lady Bird Johnson’s library. All proceeds benefit the Wildflower Center.
Explore the gardens.
Bring your camera to take a photo with a life-sized likeness of our founder.
Go behind the scenes to see the Center’s hidden treasures during an interior guided tour.
Enjoy Storytime in the Little House.
Visit The Store and obtain signed copies of Lady Bird Johnson, Deeds Not Words and Lady Bird Johnson: An Oral History.
June Event Calendar: Our Top 5 Austin Events!
June 2, 2014 by Laura Duggan · Leave a Comment
My, oh my, it’s June in Austin! While we haven’t quite seen our crazy hot days of summer, the humidity has given us a little taste of what’s to come! But until then, let us enjoy the amazing Austin weather by getting outside and enjoying some of the many festivals upon us this month! This week I bring you one the the HOTTEST events Austin has ever been lucky enough to host, the X Games, sure to bring many spectators and fans to our city! If BMX and rap music aren’t your fancy, head on over to Zilker Park with your family for a free concert series hosted by the Austin Symphony; this month they will remember the music of the 70s! Then mark your calendars and be sure not to miss one of the craziest things Austin is known for, the ROT Rally, holding a Guinness World Record for longest parade of motorcycles! It’s unbelievable! ENJOY!
X Games Austin
Friday, June 6: 11am – 8pm CT
Saturday, June 7: 10am – 8pm CT
Sunday, June 8: 10am – 6pm CT
Celebrating 20 years of X Games, ESPN will bring all the action to fans in downtown Austin on Thursday, June 5 to kick off the inaugural event in front of the iconic State Capitol building. Fans can get up close to the action with free admission to the Skateboard and BMX Vert competitions. The Vert ramp will be located at the intersection of 10th Street and Congress Ave in front of the Texas State Capitol building.
Starting that day and through Sunday, June 8, 20 hours of live X Games action will be aired on ESPN and ABC, which will also be accessible via WatchESPN and WatchABC to viewers who receive their video subscription from an affiliated provider. An additional 7.5 hours of competition will be carried on ESPN3 as well as the latest coverage across ESPN digital platforms, including XGames.com, X Games apps, X Games pages across Twitter, Facebook, Instagram and more.
After X Games demos around the world in 2013, Tony Hawk & Friends will bring the show to Austin for a 30-minute demo before the BMX and Skateboard Vert finals. In addition to Hawk, the demo will include Skateboard and BMX legends and current athletes, including Mat Hoffman, Neal Hendrix, Kevin Robinson, Kevin Staab, Elliot Sloan, Alex Perelson and more.Following the competitions, X Games and Myspace will kick off three days of concerts with Myspace Presents: Holy Ghost! hosted by Dos Equis– a free show at Austin’s famed ACL Live at Moody Theater venue.
Zilker Pops Concerts
June 6-7, Friday and Saturday 8 PM
Zilker Park Hillside Theater
Free concerts at Zilker Park featuring the Austin Civic Orchestra. This year’s theme is “That 70’s Concert,” featuring pieces popular during that decade. When we think of the 70s, what comes to mind? Let’s see … the Vietnam War, Watergate, the Arab oil embargo, bell bottoms, hot pants, leisure suits, disco balls, shag carpet, and things colored orange, gold, and avocado. But politics, economics, and fashion aside, the 70s was a golden decade for pop music. For its annual free Pops Concert at the Zilker Park Hillside Theater, the Austin Civic Orchestra will perform music from 70s movies and musicals, including Star Wars, Saturday Night Fever, and Jesus Christ Superstar, from 70s rock bands like Led Zeppelin and the Who, and more. The concert will conclude with Sousa’s rousing Stars and Stripes Forever conducted by a raffle winner from the audience!
10th Year Anniversary Maudie’s Moonlight Margarita 5K Run
June 12, Thursday 8 PM
Lady Bird Lake
The Maudie’s Moonlight Margarita Run and Party began in 2004 to bring two of Austin’s favorite things together – running and margaritas! This event has served as The Trail Foundation’s largest annual fundraiser and this year will be no exception! The event raises critically needed funds for Austin’s beloved Butler Hike and Bike Trail. Over the years, there have been many wonderful local sponsors as well as dedicated participants who have come out to support the work of TTF. The Trail Foundation wouldn’t be able to complete these projects without the help of Austin’s loyal supporters. No other event in town is more fun!
Starting at 8:00pm runners depart on a 5K course traveling along the streets bordering Lady Bird Lake finishing in front of the American Legion Hall on Veterans Drive. Upon crossing the finish line, (of age) runners are greeted with a refreshing margarita and snacks, thanks in part to our sponsors. Those attending the post-race party (a separate event within an event) will enjoy margaritas and catered dinner with Maudie’s Tex-Mex under the live oaks of the American Legion Hall. To finish the night, post-race party attendees dance and mingle to live music from one of Austin’s favorite musical acts. Not to be outdone by years past, they’re expecting up to 2,000 runners and 600 party attendees!
Republic of Texas Biker Rally
June 12-15
Travis County Expo Center
ROT Biker Rally is the largest “turnstile” motorcycle rally in the USA and one of the most highly-anticipated motorcycle events in the entire country. Thousands of motorcycle enthusiasts flock to Central Texas to enjoy amazing motorcycles, Austin nightlife and the beautiful Texas Hill Country.ROT Rally promoters are thrilled to bring Sammy Hagar to town as our Saturday, June 14th headliner performing on the main stage at the Travis County Expo Center!
For over ten years the City of Austin has joined in the ROT Biker Rally action by closing off 50 blocks of downtown Austin for a huge motorcycle parade and party on Congress Avenue the Friday night of Rally weekend—this year being held on Friday, June 13th. A “rolling closure” will be in effect for Congress Avenue and the parade will continue south across the Congress Avenue bridge where it will culminate at the NEW ROT Biker Rally Downtown, presented by Austin 360, located at 305 S. Congress Avenue in the Austin American-Statesman parking lot.
Prior to the arrival of the parade from the Travis Co. Expo Center, pre-parade activities such as the Mexican Motorcycle Acrobat Team will keep everyone entertained until approximately 8:15pm when the parade arrives at Congress and 11th street. The downtown parade is expected to draw approximately 200,000+ spectators who gather to greet the riders as they enter Congress Avenue. Afterwards all are welcome to join in the fun at the new FREE venue where vendors are open and music will be playing late for your enjoyment.
Free Movies and Concerts
Also, as we get into Summer, don’t miss the 101X Summer Cinema Series with free movies behind Central Market North (next one is Wednesday, June 18th) and make sure to watch the Austin Symphony-Hartman Foundation Concerts in the Park every Sunday night at the Long Center for a free concert! Go out and enjoy everything free and fun in Austin this month!
May Event Calendar: Our Top 5 Austin Events!
May 1, 2014 by Laura Duggan · Leave a Comment
Happy May Day! Here are our TOP 5 Events for May. From festivals to food to fitness, there is so much going on this month in Austin; the weather is beautiful and it won’t stay this way for long! Make sure you head outdoors for some fun; whether it’s paddle boarding on Lake Austin, running Lady Bird Lake, relaxing at Barton Springs, hiking the Greenbelt, or cycling the city during National Bike Month, this is the month to do it! Join us this month, as we enjoy the beauty that is Austin, Texas!
Pecan Street Festival
Saturday, May 3: 11am-10pm
Sunday, May 4: 11am-8pm
Admission: Free
The Pecan Street Festival, one of Central Texas’ oldest and most popular events, is a free two-day arts festival held each spring and fall in downtown Austin’s charming Sixth Street Historic District, a National Register of Historic Places site. On the first weekend of May and the last weekend of September, the street fills with hundreds of local and national artisans offering handcrafted creations in all sorts of two and three dimensional media. More than 60 of Austin’s finest musical acts bring three stages to life, and family-friendly activities from street magicians to a petting zoo delight both adults and children. Thirty food vendors provide both healthy and indulgent choices, often supported by and benefiting charitable partners.
16th Annual Mighty Texas Dog Walk
Saturday, May 17, 9:00am – 2:00pm
Cost: $30 per dog
The 16th Annual Mighty Texas Dog Walk’s WAG & SWAG is moving indoors! Join us for a stroll around the beautiful Palmer Events Center overlooking Auditorium Shores and lots of exciting entertainment, giveaways, games and the chance for your dog to be a STAR…all inside! Help us fetch even more Guinness World Records, including the return of our Guinness World Record Holding Fur Ball.
Participating pooches will enjoy the latest in dog food samples, advice from top veterinarians, games of canine skill and even a doggie psychic. 100% of the proceeds benefit Service Dogs, Inc. celebrating its 25th anniversary of transforming shelter dogs into assistants for disabled individuals free of charge. Take advantage of early bird discounts by registering online at http://www.servicedogs.org/.
Kerrville Folk Festival
May 22 – June 8, 2014
Founded by Rod Kennedy, the Kerrville Folk Festival has run annually since 1972. It is the longest continuously running music festival of its kind in North America. For 18 straight days and nights each May and June, over 30,000 guests come from all over the world to experience the magic of what we simply call “Kerrville”. The Festival is known internationally as a Mecca for singer songwriters of varying musical style. It’s a place where those just developing their skills have the opportunity to play their music along- side master craftsmen.
Over 1500 outstanding singer-songwriters have been presented on the Festival’s stages since the beginning. More than just a “folk music” festival, Kerrville offers music of many styles including traditional folk, bluegrass, acoustic rock, blues, country, jazz, and Americana. The common thread is songwriting. The focus of the festival is to promote emerging artists while giving our audience exposure to both new and recognized, seasoned talent.
Capital of Texas Triathlon
Monday, May 26
5:30am-11:30am
Life Time Tri CapTex was founded in 1991 and has become one of the most popular multisport races in the country. The “Premier Texas Triathlon” is now part of the Life Time Triathlon Series and fills the streets of Austin on Memorial Day, selling out with 3,000 participants. Life Time Tri CapTex attracts all levels of athletes from top ranked professionals to first-time triathletes.
Life Time Tri CapTex includes sprint and international distances, SuperSprint distance, and sprint and international distance relays. We look forward to hosting all of our athletes and spectators on race weekend!
Trailer Food Tuesdays
Tuesday, May 27
5pm-9pm at The Long Center
Austin’s premier mobile food event, Trailer Food Tuesdays presented by Real Ale, is back for another season! Sample the delicious food trucks of Austin in one easy location. Try popular local favorites, and enjoy something new every last Tuesday of the month from 5pm – 9pm at The Long Center.
