Sixth Street Scoop - April

Sixth Street Scoop - April

Hello there!

 
Welcome to your monthly trip into Austin’s ever-evolving real estate scene! As we forge ahead in 2024, staying informed about market trends is crucial, whether you're stepping into the housing market for the first time, searching for the perfect investment, or planning to sell your Austin gem.
 
This month, we're slicing through the numbers to uncover the subtle shifts and steady patterns shaping our local market. Curious about what these changes mean for you? Stick around as we decode the complexities of Austin's real estate dynamics, offering you the clarity needed to make savvy decisions. Let’s get started!
 

Market Snapshot

Quick Glance at Austin's Current Real Estate Trends
 
As we push further into 2024, the Austin real estate market presents a nuanced picture influenced by a blend of factors. March's numbers give us a clear view into these ongoing trends, highlighting both steady aspects and noticeable shifts.
 

 

  • March Housing Market Highlights:
    • Units Sold: 2,563 🔻 less than 1%
    • Average Sales Price: $450,000 ➖ unchanged from last month
    • Average Days on the Market: 80 days ➖ unchanged from last month
    • Months of Inventory: 3.8 🔼 up 0.7 months from last month
    • Average Close to List Price: 94.8% 🔺 compared to 90.3% in March 2023
 

Analysis

The small decrease in homes sold compared to last year suggests that buyer interest is stable. With the sales price and days on the market not changing, the market conditions seem steady, providing a predictable environment for both buyers and sellers.
 
An increase in inventory suggests the market is leaning slightly towards buyers, giving them more options and time to make decisions. However, with homes selling closer to their list prices than before, sellers are still seeing strong returns on their listings, indicating that well-priced homes are still in demand.
 
These trends hint at a balanced market where both buyers and sellers can find opportunities. With the summer months approaching, we may see changes due to seasonal activity and broader economic factors.
 

What does this mean for potential buyers?

With inventory slightly up at 3.8 months, the Austin market is leaning a bit more towards buyers now. This means you have more choices and less rush to make a decision. Prices and the time homes stay on the market are stable, making the buying process more predictable. However, prices might start to rise soon. The average home price has leveled off after previous drops, and with summer approaching, prices typically increase due to seasonal demand. We're already seeing multiple offer situations and fast-moving markets in our brokerage, indicating that competitive conditions are returning.
 
Buyers should act with purpose, especially when they find a well-priced home in a great location, as these properties might still draw multiple offers. It's important to act quickly before prices potentially rise.
 

What does this mean for sellers?

For sellers, the market conditions are quite positive. Homes well-prepared and priced right are selling near their asking price, which is great news. This shows that quality homes are still in demand. If you're considering selling, now is a good time to prepare, especially if you want to capitalize on potential price increases. Preparing your home for the market can take some time, and once listed, the closing process, including escrow, usually takes at least 30 days.
 
Sellers should focus on making their homes appealing and setting a realistic price to attract serious buyers. Although the market isn’t as fast-paced as before, homes aren't sitting unsold for too long, as long as they're priced correctly. This is a good time to sell without having to drop your price unexpectedly.
 
 

Sixth Street Highlights

News and Updates from Our Brokerage
 
Our Community Commitment:
 
 
This month, Sixth Street Realty is proud to launch a heartfelt initiative aimed at tackling hunger right here in Central Texas. We've partnered with the Central Texas Food Bank for a community-wide food drive that goes beyond the basics of giving— it's about creating real impact where it's needed most. Stay tuned for a deeper dive into this campaign in my personal note later in this newsletter.
 
Can't wait to contribute? You don’t have to! Click HERE to join us in making a difference today. Your support helps ensure no table in our community goes empty.
 

Featured Listings

Handpicked Properties Just for You
 

2810 Scenic Dr

Discover your dream of luxurious lakeside living in Tarrytown, Austin. This stunning 5-bedroom, 5½-bathroom home, designed by the acclaimed Ryan Street, spans nearly 9,000 square feet on a lush half-acre by Lake Austin. From its locally sourced limestone walls to its architectural harmony with Texas nature, this residence blends sophistication with comfort. Offering privacy and prime lake access, the home is tucked away in a serene cove near Laguna Gloria, away from bustling waters.
 
Inside, natural light floods through expansive two-story windows, showcasing incredible lake views. The home is perfect for entertaining, featuring a recently updated dining room with custom fittings and a sprawling primary suite with lake-view bay windows and an opulent bath. The lower level hosts a vast game room and a unique sunken home theater. Additional luxuries include a library, office, meditation room, and a fully equipped outdoor kitchen.
 
Plans for a future guest house and an upgradeable boat slip offer further potential. This home isn’t just a place to live—it's a masterpiece waiting for its next chapter. Click to explore what might be the most impressive listing on the market!
 
 
 

1501 New York Ave

 
Experience the pinnacle of urban luxury in East Austin, where the Austin skyline unfurls before you in a dazzling display of light from sunrise to sunset. Positioned just a mile from Downtown, this home offers unobstructed views from every angle, whether you’re waking in your bedroom, sipping coffee on one of the two rooftop decks, or lounging by the swimming pool.
 
This 3-bedroom residence, with a convertible 3rd-floor space ideal for a fourth bedroom or guest suite, boasts 4 full bathrooms and is brimming with high-end finishes. Enjoy white oak cabinetry, precision-crafted millwork, and unique fixtures that elevate every room. The gourmet kitchen is outfitted with top-tier Miele and Wolf appliances, and the home includes a swimming pool, 2-car garage with an EV charger, and a comprehensive irrigation system, all secured by an automatic gate.
 
Located a stone’s throw from Downtown, Dell Seton Hospital, and the University of Texas, this home puts you at the heart of Austin’s vibrant scene. Local gems like Franklin's BBQ and El Tigre Coffee are just a walk away.
 
 
For more listings, look here.
 

From My Desk

 
A Personal Note from Adam
 
This spring, I’ve embarked on an adventure that’s a bit different from the usual house-hunting escapades—though, in its own way, it's about ensuring everyone has a place at the table. Literally.
 
Imagine this: while we might debate over the merits of quartz vs. marble countertops, many in our beloved community are wondering whether there’ll be enough on their countertops come dinner time. It’s a stark contrast and one that truly hit home for me.
 
That's why this month, Sixth Street Realty isn’t just in the business of homes—we’re in the business of hope. We've teamed up with the Central Texas Food Bank for a food drive. Not the kind where you simply drop a can in a bin (though every can counts). We’re doing it with a little more heart.
 
If you need a donation bag, holler at me. I’ll swing by faster than a slider at the bottom of the ninth, bag in hand, ready for you to fill with goodies. Leave it out, and consider it picked up. And for those who prefer the digital swing—there’s a QR code in our newsletter linking directly to a place where your bucks make more bang. Just $10 can line the shelves of a neighbor’s pantry for a month.
 
Why am I doing this? Because community isn’t just about property lines and shared fences—it’s about shared struggles and support. It’s about meals, memories, and yes, even the marble countertops where we gather to make both.
 
So, as we spring into this season of renewal, let’s renew our commitment to each other. Let’s fill plates, fill pantries, and fill hearts. After all, isn’t that what really makes a house a home?
 

DONATE HERE

PS. Here's an unrelated photo of our baby :)

 


 

Get in Touch

 
I'm here to assist with all your real estate needs! If you have questions about the market or would like help preparing to list your house, I will gladly take the time to chat with you. Let me know your situation and I'll get back to you ASAP!
 
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