Austin Metro - Snapshot
SALES - ONE MONTH
6.11.2024: The metro appears to be declining softly in sales, already, which matches 2023 trends.
2.21.2024: Incremental improvements in sales activity approaching the spring selling season.
1.08.2024: Likely greater decrease in activity due to xmas and new years falling on weekends.
12.26.2023: Relatively consistent through Week #3, December.
12.18.2023: Slight trend downward; however, activity is picky up as we close out the year. Interest rates continue to tick down.
12.12.2023: There was a noticeable increase in sales activity post-Thanksgiving; however, this was followed by a decline in sales through Week #2 of December. Improving interest rates and late-year builder activity should counter this trend through the end of 2023.
6.11.2024: Sales activity appears to have peaked, which matches 2023 trend and is seasonally one-two months early for the metro.
2.21.2024: Small rebound from January lows in sales activity.
1.8.2024: Lowest activity during this 6-month period.
12.26.2023: Consistent downward trend.
12.18.2023: Sales activity peaked in July 2023 and has seen a steady decline through December (Week #3).
6.11.2024: Again, peak sales for 2024 which matches 2023.
2.21.2024: Sales activity is improving f1om their Jan 2023 lows
1.08.2024: Below our year-over-year activity -- interest rates ticked up slightly around 6.6% for the last week of the year.
12.26.2023: 2023 has experienced its challenges, most notably, consistently high interest rates. Sales activity peaked in July and has seen a steady decline through December (Week #3). The Fed has just announced future interest rates cuts, possibly three in 2024), which should spur and increase in both supply and demand
Sales Volume # - Austin Metro
6.11.2024: June may be off to a rather slow start.
2.21.2024: This is a new additional to our dashboard. As you can see, we are seeing limited sales in all four major counties. January 2024 was just shy of January 2023 total sales and February will likely result in the same.
(NEW CHART) Media Sales Price by County
6.11.2024: Travis and Williamson counties seeing increases in median prices -- largely due to their share of new construction which includes large sales concessions.
2.21.2024: We are starting to see steady increases in Bastrop county for median sales price. I might do a greater deep dive to see where the activity is happening.
Sales Volume # - Austin Metro month over month trending.
6.11.2024: Williamson and Travis below their Year-over-Year numbers.
2.21.2024: New chart, this is to better illustrate overall trend in total sales by county. As seen, a steady decline in activity from May 2023 onward — largely due to mortgage interest rates.
1.8.2024: Added a 60-day trend, above, which may replace this view.
12.26.2023: More consistency in pricing trending above 90%.
12.18.2023: Pricing has improved from early 2023 where seller expectations were too high and agents appeared to struggle with anticipating market conditions in the early 2023 selling season.
6.11.2024: Decline in List-to-Price ratio is significant. Trend inline with prior year.
2.21.2024: Pricing has been more realistic through the winter months. Days on market is likely improving with limited supply.
1.9.2024: NEW CHART. slight improvement in ratio through end of 2023. Likely due to increases in builder concessions.
6.11.2024: Seller concessions for new construction are moving up over $10K.
2.21.2024: No major movement in new construction seller concessions. At best, it is leveling off at around $10,000 for those transactions that offer these concessions.
8.2024: Irregularities in new construction concessions due to limited sample size to end the year.
12.26.2023: Still consistently hitting the $10K mark with new construction.
12.18.2023: We are seeing increases in builder concessions to finish out 2023.
12.12.2023: The median builder concession paid is approximately $10,000 since late October 2023. This is approximately $1700 more than the resale market. These numbers represent only transactions which report seller concessions.
6.11.2024: Relatively stable seller concessions for resale properties.
2.21.2024: As pricing has improved under this high-interest rate environment, so has seller concessions for resale properties. We’ve seen a 15% decline in these seller concessions since the start of 2024.
1.8.2024: Concessions above median ($9K) for final week of 2023.
12.26.2023: Slight uptick in seller paid concessions for resale. Median is closer to $9K.
12.18.2023: The median builder concession paid is approximately $8300, slowly declining since late October 2023. This is approximately $1700 below what builder are offering. These numbers represent only transactions which report seller concessions.
MARKET TRENDING - 30 DAYS - TRAVIS COUNTY
6.11.2024: Shifting this to a scatter plot in future versions to see volume (or lack of).
2.21.24: We may add an additional factor here as we do see some irregularities, largely due to limited sample sizes on some days that make it appear there’s a larger bounce. We are still relatively flat if you take a longer look at this trend.
1.8.2024: Desperation resales likely what make up the market volatility between xmas and new years.
12.26.2023: Median sales price took a dip this last week in Travis.
12.18.2023: Median sales price is trending upward through Week #3 of December. Sales concessions are also increasing, especially in new construction which would keep values high.
12.12.2023: What is most curious about this graph is how it relates to the neighboring county of Williamson, below, which shows the opposite trendline. Properties in Travis County are seeing a slight increase in sales price over the last 30 days.
NEW vs RESALE - TRAVIS COUNTY
6.11.2024: This graph has solidified itself at around 19% for new construction in Travis County, relative to 40% new construction activity in Williamson County.
2.21.2024: It is interesting to see this small, incremental decline in new construction (relative to all sales). A decent indicator that the market is ready for improved activity.
1.8.2024: Decline downward to 19.6% for new construction sales.
12.26.2023: No real change in mix.
12.18.2023: New construction sales represent 21.6% of the sales activity in Travis County. This is 21% less than neighboring Williamson County.
Average Living Space - TRAVIS COUNTY
6.11.2024: Illustrative of the change in demand for the square footage of homes.
1.8.2024: The graph demonstrates the overall trend in the size of homes since 1920. These are based on sales activity (current demand) and not what is on the ground.
Notice the recent trend downwards for smaller, likely more affordable, homes.
MARKET TRENDING - 30 DAYS - WILLIAMSON COUNTY
6.11.2024: Shifting this to a scatter plot in future versions to see volume (or lack of).
2.21.2024: Due to limited volume, we are likely shifting this look to a week-over-week analysis. Limited sales data on various days of the week can create irregularities in the data.
01.8.2024: Finished 2023 on the upswing.
12.26.2023: Continued positive trending where builder concessions remain high.
12.18.2023: A slight uptick in median sales prices through Week #3 of December - this could relate to an increase in builder concessions.
12.12.2023: This small decline in value trending is likely due to new construction activity. Many builders are slashing prices on inventory homes to unload by years end. Interest rates did tick downward in the last week, which could flatten this trendline in the coming weeks.
NEW vs RESALE - WILLIAMSON COUNTY
6.11.2204: This has remained relatively stable in 2024 at approximately 40% new construction sales. This number is actually much higher as it does not include off-market builder sales.
2.21.2024: Steady, incremental decline in the new construction share of sales. To be expected as we lead up to the spring selling season.
1.8.2024: Slight uptick in new-con to 43.7%
12.26.2023: No real change in mix.
12.18.2023: New construction sales represent 43.1% of the sales activity in Williamson County. This is 21% higher than neighboring Travis County.
Average Living Space - WILLIAMSON COUNTY
6.11.2024: Illustrative of the change in demand for the square footage of homes.
1.8.2024: The graph demonstrates the overall trend in the size of homes since 1920. These are based on sales activity (current demand) and not what is on the ground.
Notice the recent trend downwards for smaller, likely more affordable, homes.