Austin Real Estate Update & Newsletter | September 2016
 

 

Greetings!

 

I hope this newsletter finds you well.

 

This edition includes my latest Featured Listing, market updates about both BartonPlace and Spring Condominium, as well as Austin news and events - enjoy!

 

Featured BartonPlace Listing

Coming Soon - Rare, Corner Penthouse
Residence 5604 | 1 Bedroom, 1 Bath| $375,000
Rare BartonPlace Penthouse offering - gorgeous corner residence with 16' barrel-arched ceilings. Stunning floor-to-ceiling glass offers an east-facing treed view.  Custom built-in cabinetry throughout, including thoughtful kitchen sideboard storage, deep pull-out drawers, and key bathroom storage.  Notable included upgrades: Tailored motorized shades, stainless LG fridge and full-size LG washer & dryer, Nest thermostat and unique garage storage unit.  Live where Austin plays with Zilker park just blocks away and the hike & bike trail just out your front door.  Welcome Home!  




1A Floor Plan
 
 
Please contact me for more information or to schedule your personal tour!

 
REALTOR, CLHMS, GRI, CNE
C: 512.247.8788
***Over 90 BartonPlace Condos SOLD***
BartonPlace Market Update
  
Live the best of both worlds at BartonPlace - see below for current availability:

Two Bedrooms:



For more information, or to schedule a personal tour, please contact:

 
REALTOR, CLHMS, GRI, CNE
(512) 247-8788

My Recent BartonPlace Sold & Leased Residences:

    #4202 - 2 Bedroom, 2 Bath - Sold: September 2016 - Seller Representation      
       
Spring Market Update

 

Live in the middle of it all, above it all at Spring - see below for current availability: 

Two Bedrooms:

Three Bedrooms:

42nd Floor Penthouse:
 

For more information, or to schedule a personal tour, please contact:
REALTOR, CLHMS, GRI, CNE
(512) 247-8788
ABOR Market Update - Home sales volume declines in Central Texas for the second time in 2016, prices continue to rise
 From: www.abor.com


AUSTIN, Texas - Aug. 18, 2016 - Single-family home sales volume declined in the Central Texas area for the second time in 2016, according to the July 2016 Central Texas Housing Market Report released today by the Austin Board of REALTORS®. Across the Central Texas region, 4,230 single-family homes were sold in July 2016, a decrease of 3.1 percent compared to July 2015.

"When it comes to sales volume, we've grown very used to seeing year-over-year increases every single month, but it's important to remember that 2015 had the strongest summer selling season in the region's history," said Aaron Farmer, 2016 President of the Austin Board of REALTORS­®. "The value of Central Texas real estate has continued to increase, which is good news for homeowners, but those rising prices could start to have a cooling effect on sales volume in the market amidst growing affordability challenges."

The median price for single-family home sales in Central Texas was $260,000 in July 2016, a 6.1 percent increase compared to the same month of the prior year. Over the same time period, Central Texas inventory levels were statistically unchanged at 3.6 months and homes spent an average of 48 days on the market, three days less than July 2015.

A closer look at regional home sales among various price classes showed drastically different housing market conditions between the lower- and higher-end segments of the market. Across the Austin-Round Rock Metropolitan Statistical Area (MSA) in July 2016, inventory for homes priced between $100,000 and $200,000 was virtually non-existent at less than one month of inventory. Conversely, homes priced above $400,000 had more than four months of inventory, with homes priced $1M and higher well within a buyer's market at more than 13 months of inventory.

Farmer continued, "The City of Austin's high development costs make it virtually impossible for homes under $250,000 to be built within city limits. In return, this pent-up demand is driving home prices up in surrounding areas in where lower-priced housing stock can be built. The result is a catch-22 of housing development, where the homes that can be developed are largely in price classes where both prices and inventory are higher, while the much-needed housing stock under $250,000 goes un-replenished."

Focusing on the five-county Metropolitan Statistical Area (MSA), single-family home sales dropped 4.9 percent year-over-year to 2,900 home sales, while the median home price increased 5.6 percent to $285,000. Monthly housing inventory within the Austin-Round Rock MSA was 2.8 months in July 2016, statistically unchanged compared to the year prior.
"Home prices are at their highest level in history in the Austin-Round Rock MSA, and as a result more existing homeowners have been putting their homes on the market this year," saidJonathan Smoke, chief economist at realtor.com®. "But by contrast, the Austin-Round Rock MSA remains hot relative to the U.S. In July, listings in Austin moved 20 days faster than the US overall and received 39 percent more views compared to the U.S. average on  realtor.com®."

Narrowing in on the City of Austin specifically, the median price hit $345,000 in July 2016, a 4.6 percent increase from the year prior, while home sales volume declined by 7.3 percent to 870 homes sold. Housing inventory rose from 2.1 months in July 2015 to 2.4 months in July 2016 and homes spent four more days on the market than the previous year.
Looking further north, the median price in Williamson County rose 6.6 percent annually to $262,000 and home sales volume decreased by 6.5 percent to 1,010 home sales. Homes spent two days fewer on the market in Williamson County and inventory decreased from 2.5 months of inventory in July 2015 to 2.4 months this year.

South of Austin, Hays County saw the largest year-over-year dip in sales volume by 7.4 percent with 339 homes sold in July 2016. The median price hit $237,900, which is up by 3.5 percent year-over-year. Housing inventory increased by .4 months to 3.2 months inventory and homes spent 16 fewer days on the market compared to July 2015.
Free Day of Yoga - September 5
   

All day  Monday, Labor Day, September 5, 2016  , participating studios across the Austin area offer free classes as an opportunity for people of every age and fitness level to:

  • Try yoga for the first time
  • Experience a new style of yoga
  • Visit a new studio or take a class from a new instructor
  • Share yoga with friends and family
  • Discover the benefits of yoga
  • Pecan Street Arts Festival - September 24 - 25
     From: www.pecanstreetfestival.org


    The Pecan Street Festival is a FREE, bi-annual juried music, arts and crafts festival held on historic Sixth Street. The show proudly features over 300 artisan vendors from all over the world who display and sell homemade art and craft work.

    History of Pecan Street
    Likely Texas' best known street, the seven block's of 6th Street between Congress and IH 35 are certainly Austin's entertainment center. With a little help from it's many like-minded sister streets, 6th Street is the heart of Austin's live entertainment scene and the capital of third coast music.

    When Edwin Waller designed Austin's street grid, he named north-south streets after Texas rivers and recommended numeric designations for east-west streets. Instead, they were named after trees. That decision was later reversed, and they were renamed with numbers. Though Pecan Street became Sixth Street, the festival honors its original name.
    Sixth Street (formerly known as Pecan Street) is lined with many historical houses and commercial buildings dating from the late 1800's and early 1900's. The storied old buildings now house numerous bars, a host of live entertainment venues, tattoo parlors, art galleries, casual cafes, upscale restaurants, and the elegant Driskill Hotel. Live music of every genre abounds. From jazz, blues, and country to rock, hip-hop, beat, progressive, metal, punk and derivations of these, there's something to whet everyone's musical pallete. Great food is a staple on Sixth Street, featuring such regional staples as chili, ribs, and Tex-Mex plus steak, seafood, cajun-cooking, and deli.

    Sixth Street draws an eclectic bunch including endless streams of mostly single UT students, the YUP's, the burb's, some interesting street folk,and lot's of out of town visitors. It's not uncommon to spy some celebrity type taking in the sights on 6th. From film folk to politicians, to music men and women, Sixth Street rubs elbows well. Dress code, yeah right. You'll see cowboys and punks, surfers and suits. On Halloween anything goes, and during Mardi Gras, everything goes !

    Going West from the entertainment area, West Sixth Street offers another suprise with antique stores, art galleries, hair salons, restaurants, and lot's of eclectic shops.
    Sixth Street is Austin's entertainment showpiece, and deservedly so. Great events like the Pecan Street Festival, SXSW, The Republic of Texas Bikers Rally, and Sixth's Street infamous Halloween celebration all make for great times with great people.

    Featured Barton Springs Trailer

    StriveGreen

    Just moved in at 1631 Barton Springs Rd: StriveGreen, sustainable fashion boutique.

    StriveGreen founder, Julie Bennis, set out to influence how we think about fashion after 7 years of working in retail buying. The textile industry is a major player in world pollution, animal cruelty, and inhumane labor. Fast fashion has taken over the world's malls and is hugely impacting the state of our environment. Sometimes it is all too easy to overlook the true cost of fashion when searching for the next big deal. 

    StriveGreen is proving that eco-friendly fashion can be both fashionable and affordable by supporting only brands that are socially responsible and conscious of their carbon footprint using green manufacturing practices to minimize or eliminate waste, organic and renewable resources, low-impact dyes, and fair trade policies.  

    Mention that you heard about us here and save 10% at the shop!

    I look forward to staying in close contact with you.  Please remember to visit my website  to see all of my current listings, past sales history and client testimonials.
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    Sincerely,
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