All Forum Posts by: Bryan Noth

1900 acre project North of New Braunfels with the first homes expected to be completed in 2023

The Article mentions the following details:

https://www.bizjournals.com/au...

@Nicolas Thatcher

https://www.kvue.com/article/m...

@Isaac Hayes

The most recent numbers showed a gain of 184 new residents per day for the period of July 2019 to July 2020, which is the most recent comprehensive data according to the US Census Bureau (https://www.census.gov/newsroo…).  That amounts to 67,197 new residents for that period.  Assuming the average household size of 2.47 per the census data for the Austin MSA, that equates to 27,205 new households transplanted.  

To make that data more applicable, consider a Metrostudy completed by the Austin Business Journal.  There were 16,404 new home starts in 2019 and 20,517 in 2020 (https://www.bizjournals.com/au…).  More precise data shows that in the Austin MSA there were 21,653 new home permits for 2020 (https://eyeonhousing.org/2021/…).  That's quite a deficit for the same calendar year that saw an increased need of 27,205 households with only 21,653 homes built.  

I agree with @Joe Scaparra that as long as the population is growing and jobs are being created the seller's market will likely persist.   

June data was released today regarding the Central Texas housing market and the data trends performed as anticipated

The The City of Austin saw an increase in median home price from $565,000 to $575,000, n increase of $10,000 from the preceding month and a 42% increase from the previous year. The Austin-Round Rock MSA saw an increase in median home price from $465,000 to $482,364, for a month to month increase of $17,364 from the preceding month and a 43% increase from the previous year.

The following infographics and data is courtesy of the Austin Board of Realtors:

The most notable change here is the housing inventory levels. Compared to the prior month, and indeed the preceding nine months, there has been an increase in available inventory, albeit slight. The MSA saw a 6% increase to 0.6 months of inventory. This has allowed buyers to spread their prospecting across a larger array resulting in fewer offers per property and less aggressively advantageous terms for sellers on contracts. Hays County to the South saw the largest respective increase at 44% increase in new listings.

To emphasize, inventory levels are still quite low. As a benchmark, six months of housing inventory is considered a balanced market between buyers and sellers. The Austin MSA is currently sitting at 0.6 months which keeps the needle well in the seller’s market classification.

The Austin MSA has been under three months of housing inventory for nearly 10 years according to Texas A&M Real Estate Research Center. Even on the heels the economic downturn in 2007-2008 the Austin MSA housing market only gently moved into a buyers market realm, peaking at 7.1 months of housing inventory. By 2011 that data had shifted back towards a seller’s market and has quite comfortably stayed in that range. Even during 2020 the highest level of housing inventory was 2 months for the entire MSA.

Williamson and Travis county continue to be strong leaders and drivers of the five county Austin MSA statistics with low inventory and climbing prices. Both the City of Austin and the MSA on a whole saw decreased days on market, down to 13 days, highlighting that inventory is moving quickly when available.

Disclaimer: The information provided here is for educational purposes only, past performance is never a guarantee of future performance.

Additional sources:

https://www.recenter.tamu.edu/data/housing-activity/#!/activity/MSA/Austin-Round_Rock

HEB would be a tremendous boon to that area indeed @Ryan Kelly

Austin's first 'Tesla Solar' neighborhood explained

The Article reports on a new partnership between Tesla Energy, Brookfeild Asset Management and Dacra. This partnership will focus on building homes with the Tesla Solar panels and battery walls. The first wave of these homes are excepted to be ready for move in by the end of 2021.

This community is located in South East Austin, West of the ABIA and COTA.

Article Linked below:

@Vivek Sapre as many have mentioned here your Realtor should be able to easily grab these from the MLS. Austin has a particularly active MLS and most rental listings get posted there resulting in the most comprehensive rental data.

@Jaron Walling The clickbait videos and news stories are popping up everywhere.  

To answer precisely, prices are still climbing overall but not at the rate of escalation we saw from Q4 of 2020 - Q2 of 2021. Official Austin MSA data will be released in a week and I will post that report when it’s available. 

I pulled some data yesterday on North Austin, Round Rock and Cedar Park (northern suburbs) and more than 50% of homes are going for over asking price. However, we are seeing approximately 30% go much closer to the asking price, often within $25k. And near 10% sell under the list price which was a mythical event earlier this year for the area. Austin has experienced a recent uptick in inventory which has helped cool the bidding wars. Where previously a property could and did receive 100 offers it's now generally under 10 in most cases.

@Jaron Walling and @Carson T. the comments are on point

It would seem that the few dozen job postings in Austin for the Boring Co. and now the linked entity land grab East of Austin indicate Elon is setting up multiple shops in the region.  

Article lInk below:

https://www.bizjournals.com/au...