Market Updates

Found 10 blog entries about Market Updates.

Austin has been making the rounds in the media these days, featured on multiple top 10 lists throughout the nation. Most recently, Austin was awarded the title of being the number one major metro area in the U.S. to invest in real estate. Real estate investors have been keeping their eyes on Austin for quite some time, and they like what they've been seeing. From the city's diverse economy, growing population, highly educated labor force, minimal affects from the global financial crisis, and Austin's undeniable 'hip' factor, it's no wonder Austin's real estate market has become the talk of the country. 

Read on to discover why Austin is the top real estate investment market in the U.S.!

Thriving Culture And Population

The secret is out:

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best place to buy a home austinAre you looking for a home in the Austin area? If so, you're doing it at a great time. Recently the good people at SelfStorage.com took a close look at 60 of the largest metropolitan areas in the country to determine which one was the best place to buy a new home. Austin came out on top as the Number 1 city for potential home buyers!

So what factors did they consider when they made this decision? Lets have a look:

  1. Economic Growth. The study looked at the numbers from 2003-2013. In that time, Austin had the best long term job growth and the second best overall economic growth of any of the top 12 cities on the list.
  2. Availability of New Housing. This metric focussed on the percentage of new housing built in 2000 or later. Austin came in at a
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affordable housing austinAustin’s home prices have been well on the rise for the past few years, especially from 2014-2015. A report released this week from the Austin Board of Realtors confirms that the housing market is now more expensive than it ever has been, making it increasingly difficult to pin down affordable housing for a wave of new residents drawn by the growing economy.

While the home prices skyrocket, incomes are increasing slowly, and the gap is getting difficult to close. All of that aside, homes are still selling, and fast. So if you’re looking to move to the city, how do you take advantage of the growth?

Investing in Austin real estate could be well worth the initial compromises, such as cutting back on unnecessary spending to prioritize your mortgage

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At the beginning of January, we wrote about the sale of a 75 acre tract of land in Bull Creek. It spans from Bull Creek Road and along W 45th Street, and at the time, the new owners were tight lipped about future plans. The former Texas Department of Transportation land now has a future in mind, thanks to the bid winners, MileStone Community Builders.

the grove at shoal creek
Image courtesy of MileStone Community Builders

As is gaining traction among Austin home builders, the mixed-use development angle was one rumored to be applied to the land, and in this case the whispers were true. The Grove at Shoal Creek will be home to green spaces, single family lots, retail, office, and multi-family units. Concerns raised before the plans were launched included notes that the land

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pemberton heights homeA classic farmhouse in the community of Pemberton Heights, Natalie Maines’ former Austin home has been sold to new owners. For seven years, it was home to the Dixie Chicks singer and her husband Adrian Pasdar—well-known for his roles in Agents of SHEILD and Heroes—and their children. Maines and Pasdar also recently sold their New York condo.

The home has a rich history. Built in the 1930s, the farmhouse has been expanded to almost five thousand square feet, and each room has a unique take on rustic modernity. It’s not uncommon to find similar homes in Pemberton Heights, a heritage district developed in the late 1920s that has graced the pages of home décor magazines and attracted the successful since its initial construction.

The $1.82 million sale

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real-estate-imagingOver pixelated listing pictures are no longer the standard, and in a city with a strong inventory, agents are using every trick up their sleeves to create a unique listing for their clients. This is where Virtuance steps in, the leader in real estate imaging and the company making waves in the limited cities in which it operates. This month it opened its Austin doors, and it looks like they'll be boosting the competitive edge of the homes for sale in Austin.

According to Virtuance, homes with their pictures get 2-3 times more viewings than those that used other photography services, and the baseline packages start at just $149—a small price to pay for a marketing bump like that.

The secret behind these images is their in-house HDReal™ system. It

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austin real estateWhat was an amazing year for Austin real estate is now being followed up by another 52 weeks of prosperity. Sales were at record levels in December and Forbes recently listed the city as one of the best for investing. So it's no surprise that the real estate sphere is chock-full of new listings and ambitious developments. And on that note, here are a couple of stories that have made the news this week.

Pflugerville

Approved on January 20, Sunshine Village Town Center is the future beacon of lifestyle, dining, and entertainment in Plfugerville. Slated for completion in just five years, this mixed-use development will be at the heart of many new homes by the time 2020 rolls around.

Austin's growth is the catalyst for projects of this type, as the

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austin luxury real estateLuxury home sellers are finding out that the Austin market is well worth the sometimes lengthy wait. While many homes listed at over $1 million take longer to sell, the sales in this bracket have been climbing.

According to the Texas Association of REALTORS® chairman Scot Kesner, it’s the growing population and employment prospects that are behind the luxury market boost. Austin has been the subject of immense growth characterized by a booming center, new housing developments, and an increase in hotel construction. The city’s economy is drawing residents from across the nation, and a handful of those newly minted Austinites, along with the stalwart homegrown residents, are looking to invest in homes above the one million dollar mark.

luxury real estateIn a city where

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The year 2014 has marked tremendous growth in Austin real estate, including major hotel developments, new communities, and neighborhood revivals. There’s been plenty of buzz  surrounding the new hotels in particular. From the JW Marriot opening early 2015 to the Westin Austin set to open shop next summer, this past year has been one of build and boom. The entire city has been sparked with growth, and these additions to the skyline will welcome all of those who seek to find out why Austin is heralded as weird.

For more permanent Austinites, developments like the Bowie Apartments presented intriguing rental endeavors. Not to mention that the housing developments surged in both the inner-city and surrounding communities. In fact, Barrington Oaks was

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It's been a busy week for the team at Keller Williams Austin. Over three decades, KW Austin has strived to provide the best for our clients, but that spirit stems from the many outstanding employees that make it all happen. This week our efforts on all sides came full circle, and we are honored to have received such immense recognition from our community and our team members.

FAVE Award

Presented by the Austin Young Chamber of Commerce, the FAVE award can be won in a number of categories. This year, the Favorite Austin Venture of Enterprise (FAVE) in the Local Living Company category was presented to Keller Williams Austin, as nominated and selected by the Austin community.

Keller Williams Austin is elated that our community presence has prompted

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