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Eleven Oaks Realty is proud to present their June 2019 Austin Condo Price Report measuring activity in the Austin condo market. Our June 2019 Austin Condo Price Report covers all condominiums and townhomes in the City of Austin.

Number of Austin Condos Sold Down 16%

In June 2019, 275 condos sold in Austin compared to 328 in June 2018, marking a 16% (53 condo) decrease in year over year numbers. Again this month, we’re seeing a slow down in the condo market. We’re also seeing a slow down in the single family home market, which could be causing buyers to opt for single family homes if they can buy those versus condos. Working in the market, it seems buyers aren’t as frantic as they have been in years past. Whether that means they’re opting for homes in the suburbs versus condos in the city of Austin or if we really just have less demand, time will tell.

3% Decrease in the Number of Condos Under Contract

In June 2019, there were 310 condos that went under contract (pending) in Austin compared to 318 in June 2018, showing a 3% (8 condo) decrease in year over year numbers. Though we saw a slight decrease from year over year numbers, we didn’t see an abnormal decrease from April to June. It could just be buyers found what they were looking for earlier in the year.

Time to Sell an Austin Condo Saw No Change

In June 2019, it took 38 days to sell a condo in Austin compared to 38 days in June 2018 marking no change in year over year numbers.

Austin Condo Inventory Down 11%

In June 2019, we had 2.3 months of inventory on the Austin condo market compared to 2.6 months in June 2018, showing an 11% decrease in year over year inventory numbers. With a significant decrease in supply, we are seeing inventory numbers inch down. Even though there are fewer buyers in the market, they will still feel the spring/summer home buying pinch.

Number of Austin Condos Listed for Sale Down 8%

In June 2019, there were 382 condos and townhomes listed for sale in Austin compared to 416 in June 2018 marking an 8% decrease in year over year numbers. Fewer sellers are making their moves to sell this year than last.

Number of Condos on the Austin Market Down 11%

In June 2019, there were 1,104 condos and townhomes for sale in Austin compared to 1,245 in June 2018, marking an 11% decrease in year over year numbers.

Median Sold Price of Austin Condos Up 13%

In June 2019, the median sold price of a condo in Austin was $304,000 compared to $270,000 in June 2018, marking a 13% ($34,000) increase in year over year numbers.

Median For Sale Price Up 7% vs Median Sold Price Up 13%

In June 2019, the median price of a for sale condo in Austin was $375,631 compared to $350,000 in June 2018, marking a 7% increase. The median sold price of a condo in Austin went from $270,000 in June 2018 to $304,000 in June 2019, marking 13% increase.

Number of Austin Condos Taken off the Market Down 23%

The number of expired condos in Austin (number of condos that were taken off the market) was down 23% or 20 condos in year over year figures. In June 2019, there were 67 condos taken off the market compared to 87 in June 2018. With fewer condos being listed, buyers are snatching more inventory and requiring fewer sellers to take their units off the market. It will be interesting to see how this affects fall numbers.

Austin Condo Supply Down 11% and Condo Demand Down 16%

This month we saw an 11% decrease in the supply (number of condos for sale) and a 16% decrease in demand for Austin condos. Again this month we saw a decrease in both supply and demand. With demand down more, you would think it would have the opposite affect on time to sell and inventory.

Source: Clarus Market Metrics, ACTRIS Sold Data

June 2019 Austin Condo Numbers

In June 2019, there were 257 condos and townhomes that sold in Austin. Condos ranged in size from 368-4,516 sq ft with 1-4 bedrooms and 1-4 bathrooms. The most expensive condo that sold in Austin sold for $2,795,000 and the least expensive condo sold for $95,000. It took, on average, 36 days to sell a condo in Austin and sellers received, on average, 97.86% of their original list prices. The average price per square foot of a condo sold in Austin in June 2019 was $306.83.

Bed Bath SqFt List $ LP/SqFt Sold $ SP/SqFt SP/LP SP/OLP ADOM
Min 1 1 368 $108,000 $114.65 $95,000 $119.56 86.83% 78.72% 0
Max 4 4 4,516 $2,795,000 $991.30 $2,795,000 $932.26
117.88% 125.25% 264
Avg 2 2 1,225 $363,499 $310.68 $359,184 $306.83 98.89% 98.07% 36
Med 2 2 1,081 $300,000 $281.68 $300,000 $278.60 99.07% 98.60% 14
Search Criteria
Status Sold Sold Date Jun-19
Property Type Condos & Townhomes Number Sold 257
Source: ABoR Sales Data Area Austin
Time to Buy? Sell?

As we always say, the time to buy or sell a condo in Austin is when it’s right for you. Trying to time your condo purchase or sale for the market is next to impossible. The only way to know we’ve hit the peak or the bottom of the market is when it’s behind us. The most important factor in the decision to purchase is are you financially and emotionally ready to own a condo? Work with professionals who can help you wade through your finances and living situation and help you make an informed decision.

If you are looking strictly at the numbers, it appears as though the recommendation is – it is time to sell. Though demand is down, inventory is also down, which means buyers aren’t seeing as many choices as they have in years past. Sellers who position their home well will attract the motivated buyers in the market. Be prepared to give it a little more time and you’ll find a qualified buyer. Remember, median price is up 13%, so buyers are willing to pay more for the condos they see as a value.

If you need to sell, we are in the middle of the best time of year to do so. Make your condo stand out as a value compared to the competition and you will be successful at getting an offer quickly. Remember, positioning your condo as a value doesn’t just mean pricing lower. If you’re looking to sell a condo in Austin, spend some time preparing your condo to meet the market. The best condos are still selling quickly and for more money than they were last year. With some preparation and market appropriate pricing, you’ll have no trouble finding a buyer. Check out our Condo Marketing Plan, which we know is the best in Austin for how our team will sell your home faster and for more money than any other team in Austin.

Remember, if you’re looking to buy, now is the time of year when you’ll have the most choices. More sellers list their condos during the summer months than any other time of year. Start your search early and you’ll have time to wait for the right opportunity. Deals are out there if you pay attention. Scout new listings as soon as they are listed. Buyers today are getting complacent and waiting days to see condos when it is convenient for them. The problem is the best units are gone by then. Make house hunting a priority and you’ll have some extra time to make a decision. Also, don’t be afraid to make offers. If a unit is worth what the owner is asking, find out if they’re willing to take your number. You never know how motivated a seller might be until you put an offer in front of them they’ll have to turn down. If you’re looking to buy, our team of experienced buyer’s agents can help you find the right condo in the right complex for you and your family. Because we know the market, we’re also pretty good at negotiating good deals as well. Check out our Austin Home Buyer Representation Program for more info about how we’ll consult you to a thoughtful purchase, rather than hard sell you the first condo we see.

How Much is My Condo Worth?

If you’re considering selling and want to know how much your condo is worth, our Market Snapshot Tool is perfect for you. Simply put in your address below and we’ll email you a detailed report with sold prices, time to sell and market activity in your complex.

Questions About the Austin Condo Price Report?

Do you have questions about our Austin Condo Price Report? Looking to buy or sell a condo or townhome in Austin? Call us at (512) 827-8323 or email us at info@11OaksRealty.com and we’ll help you in any way we can. If you’re looking to buy or sell Austin condos, don’t forget to check out our Austin Buyer Resources and Austin Seller Resources for more tips.

The post June 2019 Austin Condo Price Report appeared first on Austin Neighborhoods | Austin Home Buyer Representation | Selling.

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Eleven Oaks Realty is proud to present their June 2019 Austin Real Estate Price Report measuring activity in the Austin single family home market.

Austin Median Home Price Up 7%

The biggest story this month: median home prices in Austin up again this month. We sound like a broken record, but month after month, the median price in Austin goes up. The median price of an Austin home in June 2018 was $400,000 compared to $428,426 in June 2019, up 7% ($28,426) in year over year numbers. For another month, we’ve seen median price outpace the previous year. Some months we see a more significant increase than others, but it is a consistent uptick for the past several years now.

Median home price helps us see the distribution of homes sold and does not really give us an indication of the increase or decrease in a particular home’s market value. To analyze market value, we’d have to take an in depth look at a neighborhood. If you’re looking for something like that, please check out our Austin Home Values Report.

What does this mean to buyers? Prices have steadily increased and this month pretty significantly given demand and supply are both down. If you’re waiting for prices to trend back down, you might be waiting several more years. The influx of high paying jobs to our area from much more expensive cities have caused prices to increase at a much faster rate than they have in decades past. Austin is booming and it doesn’t even hint at slowing down. If you’re thinking of buying a home, getting in the market sooner rather than later seems to be the best strategy. Though we’re seeing less inventory, you only need to find one house. Get your ducks in a row now and be ready to pull the trigger when something you like is listed.

What does this mean to sellers? Even though demand is down, supply is down more, so we are still in an extreme seller’s market. Though buyers aren’t coming out in numbers they were last year, they are still willing to pay more and are taking less time to make decisions. Catch them before they get distracted with back to school to have the best chance of making the most money on the sale of your home.

19% Decrease in Time to Sell Home in Austin

In June 2019, it took 29 days to sell a home in Austin, on average, compared to 36 days in June 2018, marking a 19% (7 home) decrease in year over year numbers. Buyers are not afraid to pull the trigger on homes they see as a value. Though there is less competition, buyers are more decisive than they’ve been in years past. If you price your home right and expose it to the market, you should not have a problem finding a qualified buyer in a reasonable period of time.

Number of Homes Taken Off the Market Down 5%

In June 2019, there were 206 homes taken off the market compared to 217 in June 2018. This marked a 5% (11 home) decrease in year over year numbers. Though we do see homes sell quickly that are priced well (and some for over asking price), Austin is still a price sensitive market. Homes that buyers feel are priced over the market don’t sell. For sellers who have a set number in mind, they’ll simply take their homes off the market rather than reduce the price.

If you need to sell and your home was priced right, maybe there was something else going on. The biggest culprits we see are incorrect info in the MLS and poor marketing. Check out our Austin Home Marketing Plan to see how your homes would be marketed.

Having trouble selling your home? Check out our Austin Home Not Selling resources page to find out why.

Number of Sold Homes in Austin Down 9%

Austin saw a 9% decrease in the number of homes sold from June 2018 to June 2019. In June 2019, we saw 1,195 homes sell in Austin compared to 1,311 in June 2018 marking a 9% (116 home) decrease in year over year numbers. This year has been significantly slower than last year. It could be that buyers are a little hesitant with rising prices. Or, they aren’t finding what they’re looking for with the reduction in supply. Either way, sales are down from last year’s numbers.

19% Decrease in Austin Housing Inventory

In June 2019, we saw 1.9 months of inventory on the market, compared to 2.3 months of inventory in June 2018, showing a 19% decrease in year over year numbers. Though we saw fewer sales, the decrease in new listings has caused inventory numbers to decrease, making buyers feel the pinch of the spring/summer home buying season.

Austin Homes Under Contract Up 3%

In June 2019, 1,260 homes went pending (under contract) in Austin compared to 1,219 in June 2018, marking a 3% (41 home) increase in year over year numbers. It will be interesting if this uptick in pending sales translates to a busier end of summer.

10% Decrease in Number of Homes on the Market

In June 2019, we had 3,819 homes for sale in Austin, compared to 4,232 in June 2018, showing a 10% (413 home) decrease in year over year numbers.

6% Decrease in Number of Homes Listed for Sale

In June 2019, we saw 1,485 homes introduced to the market compared to 1,580 in June 2018, marking a 6% (95 home) decrease in year over year numbers. We haven’t seen as many sellers in the market this year as in year’s past. Even though prices are going up and demand is strong, sellers are staying put.

Supply Down 10% and Demand Down 9%

This month we saw a 10% decrease in supply (number of properties for sale) and a 9% decrease in demand (number of sold properties).

Median for Sale Up 6% vs Median Sold Price Up 7%

This chart compares the Median for Sale Price vs the Median Sold Price to show their relationship. In Austin, we saw a 6% increase in the median for sale price and a 7% increase in the median sold price of a single family home in year over year numbers.

Source: Clarus Market Metrics, ACTRIS Sold Data

June 2019 Austin Real Estate Price Report – Strictly Numbers

For those of you who prefer to see the actual numbers, we’ve included the figures for June 2019 Austin home sales below. The most expensive home that sold in June 2019 sold for $3,240,000 and the least expensive home sold for $80,000. Homes ranged in size from 560 sqft – 13,052 sqft with an average size of 2,319 sqft. The average price per square foot for a home that sold in Austin in June 2019 was $238.36 with the lowest being $88.50/sqft and the highest being $1,642.86/sqft. It took, on average, 31 days to sell a home in Austin and sellers received, on average, 98.60% of their original list prices.


Beds Baths SqFt List Price LP/SqFt Sold Price SP/SqFt SP/LP SP/OLP ADOM
Min 1 1 560 $119,900 $93.41 $80,000 $88.50 66.72% 53.51% 0
Max 6 8 12,052 $3,399,000 $2,060.44 $3,240,000 $1,642.86 126.58% 126.58% 545
Avg 4 3 2,319 $543,917 $241.16 $535,607 $238.36 99.06% 98.06% 31
Median 3 3 2,063 $425,000 $207.11 $427,713 $204.21 99.60% 99.05% 9
Search Criteria
Status Sold Sold Date Jun-19
Property Type Single Family Homes Number Sold 1,211
Source: ABoR Sales Data Area Austin
Time to Buy? Sell?

As we always say, the best time to buy or sell a home is when you need to buy or sell. If you have a house to buy, buying when its a sellers market may hurt you on the buying end, but you’ll make it up on the selling end. If you’re trying to get into the market for the first time, the only way you’ll know that we’ve “hit bottom” is when its in the rear view mirror. Work with professionals who can help you analyze your financial and lifestyle to determine if now is the right time to buy or sell.

Looking strictly at the numbers, it appears the recommendation for this month is – it’s time to sell. Though demand is down, supply is down more so we are still in an extreme seller’s market. With just under two months of inventory and fewer new listings coming online, buyers are having to make concessions or pay more for properties that meet their needs. Demand is hinting at increasing, so this might be the perfect storm to get your home sold this year. Sellers who are dragging their feet might miss the prime selling season. We expect to see a slow down as we enter August and September, so get your home on the market now and capitalize on the summer buying season.

If you’re a seller who needs to sell now, work with a professional Realtor who can help you position your home as the best value on the market. Though we aren’t seeing as much activity, median price is still healthy, showing there are still highly motivated buyers in the market. Check out our 88 Ways to Sell Your Home Faster and For More Money for some tips on how you can prepare your home to meet the market. For more info about our Home Selling Program and why it is the best in Austin, check out Sell My Austin Home.

If you’re looking to buy, know that there are fewer buyers in the market this year than last year. That could make the other buyers a little more complacent. If you have listing alerts set and scope out new listings as soon as they’re listed, you’ll beat other buyers to the best homes. As we get deeper into spring, we expect demand to increase, so if you’re looking to buy, get in the market now. You’ll start to see more inventory as motivated sellers list their homes. And, if you can catch it before demand picks up, you might find a seller who needs to move on. Remember, even though there are fewer buyers, the best homes are still selling quickly. You’ll want to give yourself ample time to make a decision. Get your search set up and start looking at new listings now. If you’re looking to buy, we can help you be successful. We know the market and know how to get the best deal for a buyer. For more info about buying a home, visit Buy a Home in Austin.

Curious How Much You Could Sell Your Austin Home For?

Our Market Snapshot Tool is for you. With just your zip code, we’ll email you a detailed report showing what homes in your neighborhood sold for, how long it took to sell and how the market is trending. Though our Austin Real Estate Price Report is helpful in gauging the overall trend of the market, it doesn’t address neighborhoods specifically. If you’re looking for that type of report, put in your name and zip code below and our system will email you a Neighborhood Market Report.

Questions About the Austin Real Estate Price Report?

Do you have questions about this Austin Real Estate Price Report? Call us at (512) 827-8323 or email us at info@11OaksRealty.com and we’ll help you in any way we can. If you’re looking to buy or sell Austin real estate, don’t forget to check out our Buyer Resources and our Seller Resources for more tips.

The post June 2019 Austin Real Estate Price Report appeared first on Austin Neighborhoods | Austin Home Buyer Representation | Selling.

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When you’re selling your Austin home, you should have a set game plan for last minute showing requests. With a game plan, everyone in your household knows exactly what needs to be done to get your home ready to show quickly.

To help you prepare your home for showings, here is a list of the 6 most important things to remember when an Austin home buyer is coming to see your home.

1. Make Sure Everything is Neat and Tidy

The easiest way is to pack everything you don’t use on a regular basis and either put it in storage, or neatly stacked in your garage. A prospective buyer understands you’re moving and can see past boxes in the garage. What they can’t see past are the stacks of toys, clothes and clutter throughout your home. The more you can remove from sight, the better. This gives your home a sense of space and makes it easier on you when you have to get things cleaned up for a showing.

2. Turn on All Lights

Most buyers are looking for a home with warmth and don’t want to live in a cave. Open the shades and turn on all the lights to give your home a bright and warm feeling. We also recommend installing the highest wattage bulbs in all of your lamps and fixtures. This gives an even brighter appearance and makes your home look even bigger. Also, don’t forget to turn on any outside lights, especially if the showing is in the evening.

3. Make your Home a Comfortable Temperature

There’s nothing that gives a prospective buyer a sense of uneasiness than if a home is too hot or too cold. Use your central heat or central air conditioner to regulate the temperature to a comfortable setting. Put away all portable heaters and air conditioning units. We know a lot of you use these to mitigate heating and cooling costs. But, when a buyer sees too many portable units they’re not thinking the seller is trying to save some cash. They’re thinking what’s wrong with the heating or AC unit?

4. Clean Up Leaves or Debris from Your Yard

You want your home to have a nice curb appeal. If a buyer doesn’t like what they see when they pull up, they may not even get out of the car to look inside. Spend a little time and make the outside of your home look as nice as the inside. Clean up any debris or leaves, cut the lawn and remove any weeds or overgrown brush.

5. Leave 15 minutes Before Scheduled Showing

Buyers will stay longer and look more seriously at homes where the seller is not home. Leave at least 15 minutes before the scheduled showing time to give buyers the privacy to look without feeling pressured or rushed. Make a list of coffee shops, parks or shopping areas you can go if you need to get out fast.

6. Don’t Forget to Bring Your Pets!

We know your pets are very friendly and wouldn’t hurt anyone. But, the rest of the world doesn’t know that. Many times when people see pets, they either turn around before going inside, or they rush around and get out as quickly as possible. Don’t give someone a reason to leave before they even come in.

Why Take the Time to Prepare Your Home to Sell?

Spending some extra time preparing your home to meet potential new owners can mean the difference between your home selling and not selling. This is especially important if your home is in a neighborhood with several homes for sale. You want to make your home memorable to a buyer. Make them see how they’ll enjoy living in your home. You just might impress them enough to make an offer!

Selling Your Home?

If you need to sell your Austin home, check out our Austin Home Sellers section for more tips. There you can also find out how we sell homes faster and for more money than any other Realtor in Austin. Call us at (512) 827-8323 or email us at info@11OaksRealty.com to schedule a no obligation consultation.

How Much is Your Austin Home Worth?

Our Market Snapshot tool can help you estimate what your Austin home might be worth. Unlike most other online home value estimators that base their estimates on unreliable public records, our Market Snapshot tool bases the analysis on the same data Realtors use, making the value much more accurate. If you’re curious to find out how much your Austin home is worth, all we need is your address and your email. Simply fill out the form below and we’ll get the Market Snapshot for your home sent to you right away. Need a more detailed analysis? Try our Qualified Home Evaluation.

The post Game Plan to Prepare Your Home for Showings appeared first on Austin Neighborhoods | Austin Home Buyer Representation | Selling.

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Eleven Oaks Realty is proud to present their May 2019 Austin Real Estate Price Report measuring activity in the Austin single family home market.

Austin Median Home Price Up 8%

The biggest story this month: median home prices in Austin up again this month. The median price of an Austin home in May 2018 was $400,000 compared to $430,000 in May 2019, up 8% ($30,000) in year over year numbers. For another month, we’ve seen median price outpace the previous year. Median price increases have steadied, but are still on the upswing.

Median home price helps us see the distribution of homes sold and does not really give us an indication of the increase or decrease in a particular home’s market value. To analyze market value, we’d have to take an in depth look at a neighborhood. If you’re looking for something like that, please check out our Austin Home Values Report.

6% Increase in Time to Sell Home in Austin

In May 2019, it took 33 days to sell a home in Austin, on average, compared to 31 days in May 2018, marking a 6% increase in year over year numbers.

Number of Homes Taken Off the Market Down 17%

In May 2019, there were 172 homes taken off the market compared to 205 in May 2018. This marked a 17% decrease in year over year numbers.

If you need to sell and your home was priced right, maybe there was something else going on. The biggest culprits we see are incorrect info in the MLS and poor marketing. Check out our Austin Home Marketing Plan to see how your homes would be marketed.

Having trouble selling your home? Check out our Austin Home Not Selling resources page to find out why.

Number of Sold Homes in Austin Down 3%

Austin saw a 3% decrease in the number of homes sold from May 2018 to May 2019. In May 2019, we saw 1,283 homes sell in Austin compared to 1,320 in May 2018 marking a 3% decrease in year over year numbers.

16% Decrease in Austin Housing Inventory

In May 2019, we saw 1.8 months of inventory on the market, compared to 2.1 months of inventory in May 2018, showing a 16% decrease in year over year numbers.

Austin Homes Under Contract Down 1%

In May 2019, 1,275 homes went pending (under contract) in Austin compared to 1,282 in May 2018, marking a 1% decrease in year over year numbers.

10% Decrease in Number of Homes on the Market

In May 2019, we had 3,761 homes for sale in Austin, compared to 4,140 in May 2018, showing a 10% decrease in year over year numbers.

21% Decrease in Number of Homes Listed for Sale

In May 2019, we saw 1,384 homes introduced to the market compared to 1,751 in May 2018, marking a 21% decrease in year over year numbers.

Source: Clarus Market Metrics, ACTRIS Sold Data

May 2019 Austin Real Estate Price Report – Strictly Numbers

For those of you who prefer to see the actual numbers, we’ve included the figures for May 2019 Austin home sales below. The most expensive home that sold in May 2019 sold for $3,805,000 and the least expensive home sold for $110,000. Homes ranged in size from 616 sqft – 18,000 sqft with an average size of 2,3347 sqft. The average price per square foot for a home that sold in Austin in May 2019 was $238.88 with the lowest being $87.07/sqft and the highest being $750.11/sqft. It took, on average, 32 days to sell a home in Austin and sellers received, on average, 98.52% of their original list prices.


BedsBathsSqFtList PriceLP/SqFtSold PriceSP/SqFtSP/LPSP/OLPADOM
Min11616$115,000$92.06$110,000$87.0769.04%59.20%0
Max9918,000$4,199,000$798.61$3,805,000$750.11117.52%117.52%601
Avg432,334$556,883$240.61$551,329$238.8899.53%98.52%32
Median332,088$425,000$206.12$430,000$207.50100%99.58%8
Search Criteria
StatusSoldSold DateMay-19
Property TypeSingle Family HomesNumber Sold1,301
Source:ABoR Sales DataAreaAustin
Questions About the Austin Real Estate Price Report?

Do you have questions about this Austin Real Estate Price Report? Call us at (512) 827-8323 or email us at info@11OaksRealty.com and we’ll help you in any way we can. If you’re looking to buy or sell Austin real estate, don’t forget to check out our Buyer Resources and our Seller Resources for more tips.

The post May 2019 Austin Real Estate Price Report appeared first on Austin Neighborhoods | Austin Home Buyer Representation | Selling.

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A Municipal Utility District commonly referred to as a MUD is a special purpose political subdivision of the State of Texas authorized by the Texas Water Code (TWC) to provide water, sewage, drainage and other services within the MUD boundaries. A MUD can levy taxes, charge for services and issue debt for infrastructure within a well defined geographical area. MUD’s are created when there are no city utilities where they are cutting a new subdivision. Rather than the first buyer paying for the entire cost of putting in the utilities, these costs are levied as a part of the property tax and paid over several years. You can find out if the property you are considering is in a MUD on the property tax records or from the Sellers Disclosure Notice.

How are MUDs Created?

MUDs are created as follows:

  • A majority of property owners in the proposed district petition the TWC;
  • The TWC evaluates the petition, holds a public hearing;
  • Then the TWC decides whether to grant the petition;
  • Upon approval, the TWC appoints 5-temporary members to the MUD’s Board of Directors, until election is called to elect permanent members;
  • After confirmation of the MUD’s creation, it is financed by social assessment bonds. The bond funds are however funded by residents who must pay a MUD tax.
How are MUD’s Managed and Controlled?

The publicly elected Board of Directors manages and controls all the affairs of the MUD subject to the supervision of the TWC. The Board establishes policies in the best interests of its residents and utility customers. The MUD may adopt and enforce necessary charges, fees and taxes in order to provide district facilities and service.

How Much are MUD Taxes?

MUD tax rates vary according to property values and debt requirements, but rates generally decline over time as the MUD development is built our and operating and debt service expenses are allocated to more homeowners.

What Else Can a MUD Govern and/or Fund?

In addition the water and wastewater service, MUD are legally authorized to engage in conservation, irrigation, electric generation, firefighting, and solid waste collection and disposal, and the operation of recreational facilities such as parks, swimming pools and sports courts. A MUD can provide for itself the recreational amenities that are approved by its Board of Directors and funded by the District.

Who is Prohibited from Being a MUD Board Member?

Subdivision developers must petition the Texas Water Commission to create a MUD. Developers are prohibited from serving or placing employees, business associates, or family members on the MUD Board of Directors.

The 30% Rule

Developers must either pay for or deposit a letter of credit equal to 30% of the cost of subdivision utilities. This requirement ensures against “fly-by-night operators” who are not committed to the success of the MUD. The 30% rule also affords protection to MUD residents in the event the subdivision is not built according to schedule. Unless they are voting residents within a MUD, developers have no authority or control over the MUD’s Board of Directors. If they are voting members of a district. they have the same power to vote and attend Board meetings as any other resident.

Buying a Home in a MUD?

If you are considering the purchase of a property in a MUD’s jurisdiction, ask for a copy of the rules governing its activities. Ask HOA members about their experiences and solicit their opinions. It’s in your best interests to be as fully informed as possible.

Thinking of Buying a Home in Austin?

Choose a Realtor who is knowledgeable about the Austin real estate market and can help you evaluate what you’re buying. Our team of Austin Realtors specialize in representing buyers and have for the past 40+ years. Check out our Austin Home Buyers page to learn more about who we are and how we’re different. Then, call us at (512) 827-8323 or email us at info@11OaksRealty.com to schedule a no obligation conversation.

The post What is a MUD and What Do Buyers Need to Know About Them? appeared first on Austin Neighborhoods | Austin Home Buyer Representation | Selling.

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A beautifully renovated and upgraded home in the highly desirable Enclave at Westgate

Privacy, retreat, and space in a serene community await you here in this Austin home for sale.

Nestled in a suburban neighborhood, this home features 3 bedrooms, 2.5 bathrooms, and 1,577 square feet of living space. You’ll admire everything about this home, from its upgraded roof that now features TESLA Solar, to the hardwood floor installed all throughout the house.

No expenses were spared to ensure this home offers ultimate comfort.

Say goodbye to running out of hot water and paying high energy bills. This home has a Navien Tankless Water Heater for the more efficient hot water use anytime you need it.

For better efficiency, this home also offers new LG stainless steel appliances, LG refrigerator, a silent dishwasher, and top of the line convection stove and microwave.

There’s also a new Daikin HVAC and AC Unit with Interventor. The upstairs is wired for Cat6 networking and Google Fiber.

The bathrooms are remodeled and now feature new stone flooring. New tiles were installed in the remodeled powder room, and the water has new water shut off valve. Truly, this home has been done to perfection!

Set among quality homes in the tree-lined Sea Jay Drive, this Austin home offers the lifestyle you have been longing for.

Fall in love with this Austin property’s bright and airy interior

Feel right at home when you step on the entryway of this beautiful home. Thanks to this home’s open floor plan, the interior is bright and exudes a cheerful, inviting ambiance.

The right side of the foyer features a spacious great room showcasing a seamless blend of the living area, dining room, and kitchen.

Light pours in through the large windows facing the backyard, flooding the room with natural light. Set this living space with a tastefully selected sofa set, side table,  and lamp and you’ll turn this living room into a cozy spot, best for relaxing and welcoming friends and guests who are visiting.

Across the living area is a gorgeous kitchen featuring quartz counters, dual stainless steel undermount sinks, stainless steel appliances, a pantry cabinet, and lots of storage spaces.

Pendant lighting over the island with sink and breakfast bar adds a sophisticated touch to this Instagram worthy kitchen. If you love to entertain, or you enjoy cooking, this kitchen will deliver anytime!

Right next to the kitchen and just a few steps from the living area is the dining area that can comfortably fit a four-seater dining table. It’s a cozy space perfect for intimate dining moments or casual meals with friends.

For ultimate privacy and retreat, head to the master bedroom. Amply-spaced, cozy, and inviting, this master bedroom is the best place to relax at the end of the day.

The updated ensuite bathroom features a large soaking tub where you can soak and relax while enjoying your favorite drink.

A good-spaced home office/den and a laundry area complete the indoor features of this home.

A charming outdoor retreat right in your own backyard!

Feel your worries slip away when you step into the backyard of this Austin TX home. Fully fenced, quiet, and serene, this backyard is perfect for entertaining and relaxation.

Set up the covered patio with some comfortable chairs and you have a nice outdoor escape where you can enjoy the cool, fresh air.  This patio overlooks the backyard with a large fire pit.

An Enclave at Westgate home close to conveniences

This home is located in Enclave at Westgate, a brand-new, Opus-designed community that boasts of charming architecture and beautiful homes. This community is a suburb of Austin and is located off West Gate Blvd and is close to Piney Bend Park and The Cameron Center.

Austin is approximately 20 minutes away, close enough to enjoy all your favorite shows, restaurants, and shopping malls.

If you love outdoor experiences, there are plenty of things to do in Longview Neighborhood Park and Stephenson Nature Preserve and Outdoor Education Center, less than a mile away. There are several trails perfect for walking and hiking.

All local schools are within a two-mile radius of this home, and these schools are part of the Austin Independent School District, a highly rated school district.

What are you waiting for?

This home for sale in Austin TX offers the best privacy and relaxation, and it’s for sale for ONLY $372,000.

Want to know more information about this home or learn of any similar homes in the area? Visit my website http://www.AustinRealEstateHomesBlog.com/.

Homes like this don’t stay on the market long so grab this opportunity today!

Call me, Rebecca Stoklosa, at 512-529-2858 today to see this home’s amazing features.

3010 Sea Jay Drive Austin TX 78745 | Home for Sale | Call 512-529-2858 - YouTube

In case you can not view this video here, please click the link below to view 3010 Sea Jay Drive Austin TX 78745 | Home for Sale on my YouTube channel: https://youtu.be/-CH4rqTEenk

The post 3010 Sea Jay Drive Austin TX 78745 | Home for Sale appeared first on Austin Neighborhoods | Austin Home Buyer Representation | Selling.

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A beautifully renovated and upgraded home in the highly desirable Enclave at Westgate

Privacy, retreat, and space in a serene community await you here in this Austin home for sale.

Nestled in a suburban neighborhood, this home features 3 bedrooms, 2.5 bathrooms, and 1,577 square feet of living space. You’ll admire everything about this home, from its upgraded roof that now features TESLA Solar, to the hardwood floor installed all throughout the house.

No expenses were spared to ensure this home offers ultimate comfort.

Say goodbye to running out of hot water and paying high energy bills. This home has a Navien Tankless Water Heater for the more efficient hot water use anytime you need it.

For better efficiency, this home also offers new LG stainless steel appliances, LG refrigerator, a silent dishwasher, and top of the line convection stove and microwave.

There’s also a new Daikin HVAC and AC Unit with Interventor. The upstairs is wired for Cat6 networking and Google Fiber.

The bathrooms are remodeled and now feature new stone flooring. New tiles were installed in the remodeled powder room, and the water has new water shut off valve. Truly, this home has been done to perfection!

Set among quality homes in the tree-lined Sea Jay Drive, this Austin home offers the lifestyle you have been longing for.

Fall in love with this Austin property’s bright and airy interior

Feel right at home when you step on the entryway of this beautiful home. Thanks to this home’s open floor plan, the interior is bright and exudes a cheerful, inviting ambiance.

The right side of the foyer features a spacious great room showcasing a seamless blend of the living area, dining room, and kitchen.

Light pours in through the large windows facing the backyard, flooding the room with natural light. Set this living space with a tastefully selected sofa set, side table,  and lamp and you’ll turn this living room into a cozy spot, best for relaxing and welcoming friends and guests who are visiting.

Across the living area is a gorgeous kitchen featuring quartz counters, dual stainless steel undermount sinks, stainless steel appliances, a pantry cabinet, and lots of storage spaces.

Pendant lighting over the island with sink and breakfast bar adds a sophisticated touch to this Instagram worthy kitchen. If you love to entertain, or you enjoy cooking, this kitchen will deliver anytime!

Right next to the kitchen and just a few steps from the living area is the dining area that can comfortably fit a four-seater dining table. It’s a cozy space perfect for intimate dining moments or casual meals with friends.

For ultimate privacy and retreat, head to the master bedroom. Amply-spaced, cozy, and inviting, this master bedroom is the best place to relax at the end of the day.

The updated ensuite bathroom features a large soaking tub where you can soak and relax while enjoying your favorite drink.

A good-spaced home office/den and a laundry area complete the indoor features of this home.

A charming outdoor retreat right in your own backyard!

Feel your worries slip away when you step into the backyard of this Austin TX home. Fully fenced, quiet, and serene, this backyard is perfect for entertaining and relaxation.

Set up the covered patio with some comfortable chairs and you have a nice outdoor escape where you can enjoy the cool, fresh air.  This patio overlooks the backyard with a large fire pit.

An Enclave at Westgate home close to conveniences

This home is located in Enclave at Westgate, a brand-new, Opus-designed community that boasts of charming architecture and beautiful homes. This community is a suburb of Austin and is located off West Gate Blvd and is close to Piney Bend Park and The Cameron Center.

Austin is approximately 20 minutes away, close enough to enjoy all your favorite shows, restaurants, and shopping malls.

If you love outdoor experiences, there are plenty of things to do in Longview Neighborhood Park and Stephenson Nature Preserve and Outdoor Education Center, less than a mile away. There are several trails perfect for walking and hiking.

All local schools are within a two-mile radius of this home, and these schools are part of the Austin Independent School District, a highly rated school district.

What are you waiting for?

This home for sale in Austin TX offers the best privacy and relaxation, and it’s for sale for ONLY $372,000.

Want to know more information about this home or learn of any similar homes in the area? Visit my website http://www.AustinRealEstateHomesBlog.com/.

Homes like this don’t stay on the market long so grab this opportunity today!

Call me, Rebeca Stoklosa, at 512-529-2858 today to see this home’s amazing features.

The post 3010 Sea Jay Drive Austin TX 78745 | Home for Sale appeared first on Austin Neighborhoods | Austin Home Buyer Representation | Selling.

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Eleven Oaks Realty is proud to present their April 2019 Austin Luxury Real Estate Price Report measuring market activity in the Austin area single family home market priced at $1 million or over. The April 2019 Austin Luxury Real Estate Price Report covers the luxury market in the following Austin metro area counties: Travis, Williamson and Hays.

Number of Luxury Homes Listed for Sale Up 26%

In April 2019, there were 237 luxury homes introduced to the market compared to 188 in April 2018, marking a 26% (49 home) increase in year over year numbers.

Austin Luxury Homes Under Contract Up 34%

In April 2019, 139 luxury homes went pending in the Austin area compared to 104 in April 2018, marking a 34% (35 home) increase in year over year numbers.

17% Decrease in the Number of Luxury Home Sales in Austin

In April 2019, 783 luxury homes sold compared to 94 luxury homes in April 2018, marking a 17% (16 home) decrease in year over year numbers.

Austin Luxury Housing Inventory Down 26%

In April 2019, there was 4.8 months of inventory on the Austin luxury real estate market compared to 6.5 months in April 2018 – a 26% (1.7 month) decrease in year over year numbers. April 2019 marked the lowest level of luxury housing inventory in Austin in more than a year. It will be interesting to see if that trend continues.

Time to Sell Luxury Home in Austin Down 15%

In April 2019, it took 68 days to sell a luxury home in Austin, on average, compared to 80 days in April 2018, marking a 15% (12 day) decrease in year over year numbers. We saw a slight increase in time to sell from last month, but still lower than we’ve seen in months.

Austin Median Luxury Home Price Saw Essentially No Change

This month, the median home sale price of a luxury home in the Austin area saw a $1,000 increase in year over year numbers. The median home price in April 2019, when you consider homes that sold for $1 million or more, was $1,351,000 compared to $1,350,000 in April 2018.

Median home price helps us see the distribution of homes sold and does not really give us an indication of the increase or decrease in a particular home’s market value. To analyze market value, we’d have to take an in depth look at a neighborhood. If you’re looking for something like that, please check out our Austin Home Values Report.

5% Increase in the Number of Homes on the Luxury Market

In April 2019, there were 858 luxury homes for sale in the Austin area, compared to 818 in April 2018, marking a 5% (40 home) increase in year over year numbers.

Number of Luxury Homes Taken Off the Market Up 32%

In April 2019 there were 50 luxury homes taken off the market compared to 38 in April 2018, showing a 32% (12 home) increase in year over year numbers. Though more than last year, we’re still seeing a relatively low number of luxury homes taken off the market when you consider what we see during fall and winter months.

Did your home expire? Check out our Austin Home Not Selling resources page to find out why.

Luxury Supply Up 5% – Luxury Demand Down 17%

This month we saw a 5% increase in luxury housing supply (number of properties for sale) and a 17% decrease in luxury demand (number of sold properties).

Median for Sale Price Up 3% – Median Sold Price Saw No Change

In the Austin area, we saw a 3% increase in median for sale price of a luxury home, while the median sold price of a luxury home saw no change in year over year numbers. The median for sale price of a luxury home was $1,650,00 in April 2019 compared to $1,599,000 in April 2018 marking a 3% ($51,000) increase in year over year numbers. The median sold price of a luxury home was $1,351,000 in April 2019 and $1,350,000 in April 2018, showing essentially no change in year over year numbers.

Source: Clarus Market Metrics, ACTRIS Sold Data

April 2019 Austin Luxury Home Sales Map

All of the Austin luxury single family homes that sold in April 2019 were west of 35, south of 183 (with the exception of 1) and north of 290 (with the exception of 2). Here is a map of the 78 Austin luxury homes that sold in April 2019.

Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in April 2019

More Data on Austin Luxury Home Sales March 2019

Here is some additional data on the 84 luxury homes that sold in Travis, Williamson and Hays Counties in March 2019. These 84 homes sold for $1 million or more.

  • 0 luxury homes that sold were Foreclosures (Bank Owned)
  • 7 luxury homes were Waterfront
  • 42 luxury homes were in the Austin ISD
  • 2 luxury homes were in the Dripping Springs ISD
  • 16 luxury homes were in the Eanes ISD
  • 0 luxury homes were in the Hays ISD
  • 10 luxury homes were in the Lake Travis ISD
  • 5 luxury homes were in the Leander ISD
  • 0 luxury homes were in the Round Rock ISD
  • 0 luxury homes were in the San Marcos ISD
  • 0 luxury homes were in the Wimberley ISD
  • 27 luxury homes were in Gated Communities
  • 38 luxury homes were in HOA’s
  • 48 luxury homes had Pools
  • 25 luxury homes were on Septic Systems
  • 75 luxury homes that sold were located in Travis County
  • 1 luxury home that sold was located in Williamson County
  • 2 luxury homes that sold were located in Hays County

Source: ACTRIS, Home Sales in Travis, Williamson and Hays County Over $1 Million in April 2019

Luxury Homes for Sale Around Austin

Here is a map view of the 599 luxury homes currently for sale in the Austin area as of May 22, 2019. 521 are located in Travis County, 27 are located in Williamson County and 51 are located in Hays County.

Source: ACTRIS, Luxury Homes for Sale in Travis, Williamson and Hays Counties

April 2019 Luxury Real Estate Price Report – Strictly Numbers

For those of you who prefer to see the actual numbers, we’ve listed the figures for April 2019 Austin area luxury home sales below. The most expensive luxury home that sold in April 2019 sold for $5,800,000 and the least expensive luxury home sold for $1,000,000. Austin luxury homes ranged in size from 2,225 sqft – 11,622 sqft with an average size of 4,246 sqft. The average price per square foot for a luxury home that sold in Austin in April 2019 was $400.20 with the lowest being $175.15/sqft and the highest being $752.13/sqft. It took, on average, 58 days to sell a luxury home in Austin and sellers received, on average, 95.08% of their original list prices.

BedsBathsSqFtList PriceLP/SqFtSold PriceSP/SqFtSP/LPSP/OLPADOM
Min322,225$995,000$176.44$1,000,000$175.1588.95%80.03%0
Max6811,622$6,400,000$841.94$5,800,000$752.13113.9%113.9%484
Avg444,246$1,700,608$415.06$1,634,319$400.2096.67%95.08%58
Med443,925$1,359,500$389.65$1,351,000$376.9796.51%95.47%23
Search Criteria
StatusSoldSold DateApr-19
Property TypeSingle Family Homes $1MM+Number Sold78
Source:ABoR Sales DataAreaTravis, Hays, Williamson Counties
What is Your Austin Luxury Home Worth?

The Austin Luxury Real Estate Market Report is great for someone who is looking for overall trends in the luxury market. If you’re looking for a better idea of the market in your neighborhood, our Market Snapshot Tool is for you. With just your zip code, we’ll email you a detailed market report for your neighborhood including what homes actually sold for, how long it took for them to find a buyer and trends. Simply put in your zip code and the report will be emailed to you instantly!

Considering Buying or Selling a Luxury Home in Austin?

Our team of Austin luxury real estate market specialists know the market well and can help you get the best deal possible. For more info about our team and how we work, check out our Austin Home Buyers and our Austin Home Sellers sections. Then, call us at (512) 872-8323 or email us at info@11OaksRealty.com to schedule a consultation.

Questions About the Austin Luxury Real Estate Price Report?

Do you have questions about this Austin Luxury Real Estate Price Report? Call us at (512) 827-8323 or email us at info@11OaksRealty.com and we’ll help you in any way we can.

The post April 2019 Austin Luxury Real Estate Price Report appeared first on Austin Neighborhoods | Austin Home Buyer Representation | Selling.

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Eleven Oaks Realty is proud to present their February 2019 Austin Foreclosure Market Report measuring activity in the single family home foreclosure market.

Austin Bank Owned Properties Sold Up 100%

In April 2019 there was a 100% increase in the number of bank owned homes that sold in year over year figures. In April 2018, there was 1 bank owned homes that sold (closed escrow) compared to 2 in April 2019. Bank owned homes (foreclosures) accounted for 0.2% of the total home sales in Austin in April 2019 and 0.1% in April 2018. The overall market saw a 2% decrease in the number of homes sold compared to last year’s numbers.

Austin Bank Owned Homes Under Contract Saw a 67% Increase

In April 2019 there were 5 bank owned homes that accepted a contract (pending) compared to 3 bank owned homes in April 2018. Bank owned homes accounted for 0.4% of the homes that went under contract in April 2019 compared to 0.2% of homes that went under contract in April 2018, showing just how small a percentage the distressed market takes in Austin. The full market was down 1% in the number of homes that went pending compared to last year at this time.

300% Increase in Austin Bank Owned Homes Listed for Sale

In April 2019, there were 4 foreclosures (homes owned by the bank) listed for sale vs. 1 in April 2018 showing a 300% increase in year-over-year numbers. Bank owned homes listed for sale made up of 0.3% of the full market in April 2019 and 0.1% in April 2018. The full market had a 10% decrease in new listings this month.

Austin Bank Owned Homes Currently for Sale Saw an 83% Increase

The number of bank owned homes in Austin currently on the market saw an 83% increase in year over year numbers. The number of bank owned homes for sale made up just 0.3% of the market in April 2019 and 0.2% in April 2018. The full market saw a 10% decrease in the number of homes for sale this time last year.

Bank Owned Homes That Didn’t Sell Saw No Change

In April 2018 banks took 0 homes off the market vs. 0 in April 2019. Bank owned homes made up 0% of expired properties in April 2019 and 0% in April 2018. The full market saw a 5% increase in the number of homes taken off the market.

What Do Austin Foreclosure Numbers Mean for Buyers?

We can’t seem to say this enough, if you are pursuing foreclosures in Austin as part of your home buying strategy, make it just that – part of your strategy. With so few bank owned homes on the market in Austin, you should open up your search to both homes owned by the bank and homes owned by traditional sellers. Remember, the traditional seller has to compete with bank owned properties if they want to get their homes sold.

Looking to Buy a Foreclosure in Austin?

With a combined 60+ years of experience, our team knows how to get banks to accept your offers, even in a competitive market like we’re seeing here in Austin. We’ve helped several people buy foreclosures and also purchased them for our own properties. For more, check out Guide to Buying Foreclosures in Austin and our Buying a Home in Austin Guide. Then, call us at (512) 827-8323 or email us at info@11OaksRealty.com to schedule a no obligation conversation. Together we can come up with the best strategy for you to buy a bank owned home in 2019.

How Much Did Foreclosures Sell For?

How much did foreclosures sell for in the zip code you’re targeting? Our Market Snapshot Tool will reveal actual sold prices, time to sell and market trends. Simply put in the zip code you’re targeting and the report will be emailed to you immediately.

The post April 2019 Austin Foreclosure Market Report appeared first on Austin Neighborhoods | Austin Home Buyer Representation | Selling.

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Eleven Oaks Realty is proud to present their April 2019 Austin Multi Family Real Estate Price Report measuring activity in the Austin multi family market. This report includes all multi family properties (duplex, triplex and quadplex) that sold in April 2019.

Austin Multi Family Properties Under Contract Saw No Change

In April 2019, 44 multi-family properties went pending (under contract) in Austin compared to 44 in April 2018, showing no change in year over year numbers.

Austin Multi Family Property Median Price Down 2%

The median home price of a multi-family property in Austin in April 2018 was $417,800 compared to $410,250 in April 2019, marking a 2% ($7,550) decrease in year over year numbers.

Median home price helps us see the distribution of multi-family properties sold and does not really give us an indication of the increase or decrease in a particular property’s market value. To analyze market value, we’d have to take an in depth look at a neighborhood. If you’re looking for something like that, please check out our Austin Property Values Report.

7% Decrease in Austin Multi Family Property Inventory

In April 2019, we saw 1.6 months of inventory on the market, compared to 1.7 months of inventory in April 2018, showing a 7% decrease in year over year numbers. This month we saw a pretty significant drop in inventory from last month, which is what we would expect going into the busy spring market.

Time to Sell Multi Family Property in Austin Up 145%

In April 2019, it took 28 days to sell a multi family property in Austin, on average, compared to 12 days in April 2018, marking a 145% (17 day) increase in year over year numbers. Again, we see a significant increase in the numbers, but we’re still at a perfectly reasonable period to sell a property when looking at historical figures. Last year was abnormally fast to sell a multi-family home.

Number of Multi Family Properties Taken Off the Market Up 70%

In April 2018, there were 10 multi family properties taken off the market compared to 17 in April 2019, marking a 70% increase in year over year numbers. April is an odd time for sellers to take their properties off the market. It will be interesting to see if they try to resist them or if they hold off until next year.

If your Austin multi family property was priced right but it still didn’t find a buyer, maybe there was something else going on. The biggest culprits we see are incorrect info in the MLS, inaccessibility and poor marketing. Check out our Austin Property Marketing Plan to see how your homes would be marketed if we listed them. If you’d like our opinion on why your property didn’t sell email us at info@11OaksRealty.com.

Having trouble selling your property? Check out our Austin Property Not Selling resources page to find out why.

Number of Sold Multi Family Properties in Austin Up 30%

In April 2019, Austin saw a 30% increase in the number of multi family properties sold in year over year numbers. In April 2019 there were 30 multi family properties that sold versus 23 in April 2018, marking a 30% increase in year over year numbers.

Number of Multi Family Properties on the Market Up 2%

In April 2019, we had 132 multi-family properties for sale in Austin, compared to 130 in April 2018, showing a 2% (2 property) increase in year over year numbers.

36% Decrease in the Number of Multi Family Properties Listed for Sale

In April 2019, we saw 47 multi family properties introduced to the market compared to 74 in April 2018, showing a 36% (27 property) decrease in year over year numbers.

Supply Up 2% and Demand Up 30%

This month we saw a 2% increase in supply (number of properties for sale) and a 30% increase in demand (number of sold properties). Another interesting month for supply and demand. We would typically expect to see supply increase significantly more during the busy spring months. But, we only saw it increase 2%. Demand, however, was up significantly, which explains why inventory decreased. It will be interesting to see if multi family property owners meet demand and list their properties next month or if they will hold on and continue to collect rent.

Median for Sale Down 6% vs Median Sold Price Down 2%

This chart compares the Median for Sale Price vs the Median Sold Price to show their relationship. In Austin, we saw a 6% decrease in the median for sale price and a 2% decrease in the median sold price of a multi family property in year over year numbers. The median for sale price of a multi-family property in Austin went from $454,950 in April 2018 to $427,500 in April 2019, showing a $27,500 decrease. The median sold price of a multi-family property in Austin went from $417,800 in April 2018 to $410,250 in April 2019, showing a $7,550 decrease.

Source: Clarus Market Metrics, ACTRIS Sold Data

April 2019 Austin Multi Family Real Estate Price Report – Strictly Numbers

For those of you who prefer to see the actual numbers, we’ve included the figures for April 2019 Austin multi family sales below. The most expensive property that sold in April 2019 sold for $1,025,000 and the least expensive multi family property sold for $219,000. Multi family properties ranged in size from 1,212 sqft – 3,928 sqft with an average size of 2,232 sqft. The average price per square foot for a multi family property that sold in Austin in April 2019 was $224.73 with the lowest being $104.51/sqft and the highest being $419.73/sqft. It took, on average, 31 days to sell a multi family property in Austin and sellers received, on average, 96.68% of their original list prices.

Unit CountSqFtList PriceLP/SqFtSold PriceSP/SqFtSP/LPSP/OLPADOM
Min21,212$219,000$115.65$219,000$104.5182.00%82.00%0
Max43,928$1,250,000$460.24$1,025,000$419.73110.33%110.33%162
Avg22,232$500,848$231.73$486,127$224.7397.77%96.68%31
Med22,0040$420,000$196.58$404,000$192.6598.742%98.74%17
Search Criteria
StatusSoldSold DateApr-19
Property TypeMulti FamilyNumber Sold31
Source:ABoR Sales DataAreaAustin
Time to Buy? Sell?

Looking strictly at the numbers, it appears the recommendation for this month is – it’s time to sell. With demand up 30% and supply only up 2%, buyers are looking for multi family properties and don’t have too many choices. If your property presents as a value with high cash flow, buyers will compete to own it, which means more money for you.

Looking to sell? Make your property stand out as a value. When buyers are excited about the potential of your property, they’re willing to pay more. If your multi-family property is located in a desirable area or good school district, you’re in an even better position as those are very hard to find. Spend some time preparing the property to meet the market and hire a Realtor who knows how to market multi-family properties. If you’re considering selling, work with a Realtor who has strategies to help you get top dollar for your home. Check out our 88 Ways to Sell Your Home Faster and For More Money for some tips on how you can prepare your home to meet the market. We are entering the busiest time of year. Do what you can to prepare your home now and you’ll be ready at the perfect time. For more info about our Home Selling Program, check out Selling in Austin.

If you’re looking to buy, set alerts for new listings and scout them as soon as possible. Hire a Realtor who knows the multi family real estate market and has strategies for getting your offers accepted without increasing your offer price. Our team not only knows the market, but we also own several multi-family properties that have no trouble finding tenants. We can help you identify which properties will be the highest netting. Put our knowledge and experience to work for you and we’ll help you make money on your rental. For more info about buying a multi-family property, visit Buying in Austin.

Questions About the Austin Multi Family Real Estate Price Report?

Do you have questions about this Austin Multi Family Real Estate Price Report? Call us at (512) 827-8323 or email us at info@11OaksRealty.com and we’ll help you in any way we can. If you’re looking to buy or sell Austin real estate, don’t forget to check out our Buyer Resources and our Seller Resources for more tips.

The post April 2019 Austin Multi Family Real Estate Price Report appeared first on Austin Neighborhoods | Austin Home Buyer Representation | Selling.

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