mark sprague: Austin area real estate sales are in for December 2018
- 01/24/19 01:49 PM
The Austin Board of Realtors® just released December of 2018 market stats which showed a decrease in the median price for single family homes in the Austin-Round Rock MSA (metropolitan statistical area) by .8%. Kevin P. Scanlan the 2019 Austin Board of Realtors® stated “2018 was the highest grossing year on record and for the first time ever the median price for single family homes in the Austin-Round Rock MSA stayed above $300,000 for 10 consecutive months.”
Mark Sprague, State Director of Information Capital at Independence Title, commented “Annual sales are still ahead of where we were last year and I don’t think … (11 comments)
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mark sprague: November 2018 a Record breaking month in Austin Area real estate
- 12/21/18 10:16 AM
November 2018 is another Record breaking month in Austin Area real estate
The stats for the Austin Area are in for November 2018 and looks like the real estate market continues in an upward direction. The median price is up 2%, the number of home sales is up 1% with the total dollar of home sales up 6% to a whopping 839 million. The number of days on market is only up 3 days and inventory of homes is under 3 months therefore still a seller’s market.
Sometihing to watch is active listings are up 12% over last year and pending sales … (9 comments)
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mark sprague: Are you following the trends in Austin's real estate market?
- 11/19/18 10:22 AM
Are you following the trends in Austin’s real estate market?
The stats are out for October 2018 and same song second verse is playing. The median price is up 8%, the number of sales are up 4% and inventory is holding tight at 3 months (remember economists say 6 months is a balanced market). Active listings are up and days on market are longer as buyers take more time in making a decision to buy. They are buying single family homes if priced right and perceived as a good value.
This is an excellent time for sellers to market their home but need to … (12 comments)
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mark sprague: Demand for single family homes in Austin is insatiable!
- 09/18/18 01:32 PM
I know you are probably tired of hearing how the Texas economy is exploding but it’s so strong one of my favorite economists, Neal Spelce said “it’s so strong it has triggered action not taken in 30 years!” What action? Texas State Comptroller Glenn Hegar, by law, is the state official who decides money guidelines for the legislature to follow. He made a certified revenue estimate last year in October and it was a huge increase. Well guess what? For the first time in 30 years he had to revise his estimate! Why? Sales tax revenue is up 10.5% over 2017 … (19 comments)
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mark sprague: Did the Local Austin Housing Market Slow in July ?
- 08/17/18 02:20 PM
It’s that time of the month when figures are analyzed and reports are released on how Austin performed in the previous month. I’m checking out my 3 favorite resources (Austin MLS, Mark Sprague and Neal Spelce) to see if all are basically on the same page about the Austin housing market for July 2018. Many are expressing fear our market is slowing, that we’ve peaked and ready for a slide. Why the pessimism? Are we afraid of good news? Let’s check out the facts.
The Central Texas Housing Market Report released by the Austin MLS states that strong homebuying activity throughout the … (25 comments)
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mark sprague: Austin- Round Rock MSA Real Estate Update June 2018
- 07/17/18 12:35 PM
The first half of 2018 single-family home sales in the Round-Rock Metropolitan Statistical Area (MSA) experienced strong and solid growth but declined in June 2018 according to the June & Midyear 2018 Central Texas Housing Market Report released by the Austin Board of Realtors®.
Amidst strong housing demand we see home prices continue to increase and housing levels decrease. These consecutive years of record level sales set an unrealistic level to continue year over year. According to Steve Crorey, 2018 president of the Austin Board of Realtors®, “The Central Texas housing market remains strong and continues to move at a demanding … (10 comments)
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mark sprague: Dr. Jim Gaines says "Austin is Blowing and Going!"
- 06/29/18 09:34 AM
Independence Title recently sponsored a lively Central Texas Economic & Real Estate Forecast. Thank you Jen Clark for the invite, I appreciate you! Dr. Jim Gaines, Chief Economist for Real Estate Center at Texas A & M University was the speaker and one of my favorites. I look to Dr. Gaines, Mark Sprague and Neal Spelce for insight into what direction the wind is blowing when it comes to real estate!
Dr. Gaines said Austin is blowing and going! He told us he was going to tell us what will happen but not whenJ. Our economy has been in motion for 11 … (18 comments)
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mark sprague: Austin-Round Rock MSA Real Estate Update May 2018
- 06/20/18 08:51 AM
The May 2018 Central Texas Housing Market report from the Austin Board of Realtors has been released and no surprise here! The decreasing housing inventory paired with strong demand continues to drive the City of Austin’s growing affordability crunch! However looking at the Austin-Round Rock MSA, not much of a change; housing inventory decreased by 0.1% and the median single family home price increased 5% year-over-year to $325,000. The total dollar volume of single family homes increased 7% to 1.3 Billion!
Steve Corey, 2018 President of the Austin Board of Realtors, said “The City of Austin’s lack of housing choices disadvantages … (6 comments)
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mark sprague: April 2018: 5-county Austin metro“Hot”Housing Market not slowing down
- 05/23/18 11:11 AM
According to the latest Central Texas Housing Market Report for the Austin Board of Realtors (ABOR) the Austin area housing market’s declining inventory and robust sales trends are creating an increasingly competitive housing market across all price classes.
Steve Corey, 2018 president of ABOR said, “In the Austin-Round Rock MSA, price classes across the board are seeing an increase in demand with a decrease in inventory.”
One of my go-to local economists Neal Spelce says: “The hot housing market in the 5 county Austin metro is showing no signs of slowing. Prices are higher. Sales are at the highest they’ve ever been at … (8 comments)
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mark sprague: Canyon Creek Market Report April 2018 - Austin TX
- 05/01/18 02:27 PM
Home sales for Canyon Creek are in for April 2018! If you’re wondering if it is the right time to sell or buy a home…The answer is definitely yes! There is a 3+ months plus supply of inventory in Canyon Creek which is still a seller’s market and buyers are waiting for fresh properties to come on the market.
According to one of my favorite economists, Mark Sprague, he revised his 2018 forecast of Austin’s real estate market. He originally predicted 2018 to be essentially the same as in 2017. However, based on the increase in number of contracts they are … (7 comments)
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mark sprague: February 2018 Home Sales in Austin Finish Strong!
- 03/20/18 10:59 AM
You don’t usually think of February as a month of strong home sales but the Central Texas housing showed numbers of sales didn’t slow a bit in February 2018. The latest report from the Austin Board of Realtors (ABOR) showed areas with the highest market demand and lowest inventory experienced double digit percent price increases and annual declines in sales activity. The report showed homes sales volume across the Austin-Round Rock Metropolitan Statistical Area (MSA) grew in February! Homes sales are up 5.7%, pending sales up 14%, single family homes sold are up 6% to 1,955 and median prices are up … (8 comments)
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mark sprague: A strong market in 2018 is predicted for Austin!
- 02/22/18 12:35 PM
Despite limited inventory, the first market analysis of the year according to the Austin Board of Realtors® shows steady increases in single family home sales, signaling a strong housing market for 2018. The “thin inventory” and solid single-family home sales growth is consistent throughout the Austin-Round Rock Metropolitan Statistical Area (MSA).
According to Jim Gaines, chief economist, Real Estate Center at Texas A & M in 2018, Central Texas’ housing market will continue to see an increase in both sales and price, despite inventory levels remaining low.”
In January 2018 there was an 8.5% increase in number of single family homes sold over … (10 comments)
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mark sprague: Canyon Creek Market Report January 2018~Austin, TX
- 02/07/18 01:11 PM
Home sales for Canyon Creek are in for January 2018! If you’re wondering if it is the right time to sell or buy a home…The answer is definitely yes! There is a 2+ months plus supply of inventory which is a seller’s market and buyers are waiting for fresh properties to come on the market.
According to Mark Sprague “real estate has been traveling at light speed in residential real estate in Austin with 60% appreciation on residential real estate in the last 10 years and has “slowed but not declined.”
Eldon Rude from 360 Real State Analytics gives Austin a … (13 comments)
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mark sprague: What's on the Horizon for Austin in 2018?
- 01/22/18 02:36 PM
The big news coming from the New York Times on January 18, 2018 is Amazon named the 20 finalists in the fierce contest for its second headquarters. Frankly I was surprised at our city making the cut. Why? Downtown Austin is ranked #3 on the list for the most expensive cities to live and our transit system leaves something to be desired! Many of our city council members are still resistant to growth. These are not desirable attributes for large corporations looking to open mega headquarters.
Don’t get me wrong I love Austin and enjoy the quality of life, however, I’m being realistic. … (14 comments)
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mark sprague: How did Real Estate Sales Perform in Canyon Creek in December 2017?
- 12/29/17 02:09 PM
How did Real Estate Sales Perform in Canyon Creek in December 2017?
Home sales for Canyon Creek are in for December 2017! If you’re wondering if it is the right time to sell or buy a home…The answer is definitely yes! There is a 2+ months plus supply of inventory and buyers are waiting for fresh properties to come on the market.
According to Mark Sprague “real estate has been traveling at light speed in residential real estate with 60% appreciation on residential real estate in the last 10 years. Currently it’s important to note, residential appreciation has slowed but not declined.” … (5 comments)
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mark sprague: Austin Residential Appreciation has Slowed NOT Declined
- 12/21/17 01:09 PM
The three sources I consult and depend on to stay in the know on Austin TX real estate market are Mark Sprague, Neal Spelce and the Austin Board of Realtors®. It’s amazing they are all in agreement in their latest reports; “Austin Residential Appreciation has slowed NOT declined!”
Mark Sprague a long time observer of the real estate market in Austin in his latest post November 30, 2017 stated “Austin real estate has been traveling at light speed with over 60% appreciation on residential real estate in the last 10 years. Recently we have seen sales slow, not much, but a little. … (12 comments)
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mark sprague: Where Austin is headed after September 2017 real estate sales
- 10/24/17 12:42 PM
We’ve been anxiously waiting to see the September 2017 Central Texas Housing Market Report. It was released on October 17th by the Austin Board of Realtors®. Single-family home sales declined across most of the Austin-Round Rock Metropolitan (MSA) while inventory levels continued to increase.
The median price for single family homes increased by 5% to $291,464 and the number of single family homes sold decreased by 4% to 2,433.
The President of the Austin Board of Realtors, Brandie Guthrie, commented: “Despite last month’s dip in home sales activity, it’s important to remember that we’re comparing figures to the record - breaking … (9 comments)
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mark sprague: Where are Austin Home prices headed?
- 08/11/17 11:29 AM
According to Forbes Magazine in their July 19, 2017 article by Samantha Sharf “Texas is Home to the most Over Valued Housing Markets in America” the article states Austin housing is over-valued and a housing bubble may be on Austin’s horizon. KXAN ran the story the first of August which many of you may have seen:
According to Neal Spelce’s Austin Letter “a housing bubble implies a bursting of the bubble could have bad economic consequences.” It only makes sense we should not take these reports lightly but must delve into other sources that know and study the Austin market extensively to get … (11 comments)
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mark sprague: Austin’s numbers are not stumbling...don’t be fooled
- 03/24/17 09:55 AM
I subscribe to the Neal Spelce letter as well as read and listen to Mark Sprague State Director of Information for Independence Title for news on the Austin Economy. To get the overall Texas outlook Texas A&M Research is a good resource.
When your city is doing well there are always those who want to share unfavorable news. Recently job statistics reported the job market was slowing so jumped on Austin saying it was not on fire as so many reported. The job statistics were revised and guess what Austin’s numbers improved markedly! The revisions brought Austin to the nation’s No. … (16 comments)
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mark sprague: Austin Economy ~ Post Election Wrap
- 12/13/16 02:04 PM
Each year I look forward to the Austin economic year end wrap and projections for the next year. Mark Sprague, State Director of Information Capital for Independence Title is my favorite economist because he tells it like it is and is not overly optimistic or pessimistic!
This year he entitled his re-cap “Post Election Wrap!” With all the controversy over the Presidential election he wanted to stress how the show would go on and our Austin economy would continue to expand and grow. We need to stay focused on how to handle the influx of new residents and industry expansion and … (17 comments)
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The Austin Board of Realtors® just released December of 2018 market stats which showed a decrease in the median price for single family homes in the Austin-Round Rock MSA (metropolitan statistical area) by .8%. Kevin P. Scanlan the 2019 Austin Board of Realtors® stated “2018 was the highest grossing year on record and for the first time ever the median price for single family homes in the Austin-Round Rock MSA stayed above $300,000 for 10 consecutive months.”
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