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enior Vice President & Director of Research at REOC Austin

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November surges with home sales

redhouseoutlineCentral Texas home sales soared nearly 16 percent in November over the same month last year, keeping the Austin area on track for a sixth straight year of record volume, according to the Austin Board of Realtors.

In its latest report, the board said 27,107 houses have been sold through the end of November, 3.7 percent more than during the same period in 2015. Once December’s sales are tallied, the board expects 2016’s sales to top last year’s 29,068 transactions, which marked the fifth year in a row of record sales in Central Texas. …Read Entire Post

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Goodnight mixed-use development to add 3,500 homes, retail, parks

goodnightAU_logo

The first 107 of 3,500 homes completed as of June, much more to come in the following years.

Members of the Goodnight family and Benchmark Development have begun constructing the first lots of what will be 3,500 homes in the Goodnight mixed-use development on East Slaughter Lane in the Onion Creek area in May.

Goodnight, formerly known as Goodnight Ranch, is a 700-acre development with homes for sale in various price ranges, 225,600-square-feet of retail and business space and land for a future Austin ISD school. Construction of the development is expected to take 10-15 years.

…Read Entire Post

Goodnight Ranch's new dawn: housing, mixed-use project to South Austin

Goodnight Ranch development plans

Goodnight Ranch development plans

Some 3,500 homes are poised to be built during the next decade or two on the former dairy farm near East Slaughter Ln. and Old Lockhart Rd, across I-35 from Southpark Meadows, the largest shopping complex in the region.

Retail and commercial office development are part of Goodnight Ranch’s mix—at least 226,000 sf. Apartments and condos will be added. One elementary school is already built to serve the community and another school site has been set aside. …Read Entire Post

Lake Travis area alive with activity

lakewaySignWith plans in the works for major projects in Bee Cave, Lakeway, Hudson Bend and Four Points, a wave of new construction along the RR 620 corridor during 2014 points to continues growth for the region in the coming year.

Some of the highlights are listed below but read the entire article for more details.

Lakeway

Oaks at Lakeway (175,000 sf) – Neighborhood Center anchored by H-E-B; to open Oct. 30th

Lakeway Medical Village – Under Construction  …Read Entire Post

Austin real estate market in for another stellar year

The local real estate market is in for another stellar year – that was the overriding message of the 2014 Austin Housing Forecast.

The Austin metro area’s population has been growing throughout the recession and is about 1.87 million today. That number is projected to rise to 2.3 million by 2020.

The presentation covered a lot of territory from office space absorption to apartment construction to resale home statistics to new home supply.

The Austin Business Journal summarized the data highlights, including:

• From 2006 through 2013, the area has added 343,832 residents, but apartment …Read Entire Post

Austin area home sales reach seven-year high

The volume of home sales in the Austin area rose again in November, according the latest data from the Austin Board of Realtors.

Last month was the busiest November for Austin-area home sales since 2006. It’s also the 30th-straight month that sales volume has increased.

Nearly 1,900 single-family homes were sold locally, a 14 percent rise over …Read Entire Post

Round Rock grows by annexation

Paving the way for new housing and business development, the Round Rock City Council recently approved the annexation of more than 412 acres of unincorporated land along University Boulevard in east Round Rock.

The council also established special zoning standards on the land and set up a development agreement to allow the construction of hundreds of …Read Entire Post

Housing boom bigger in Texas

Texas, known for its open spaces and cheap property, is experiencing the types of real estate bidding frenzies seen in tightly built markets from New York to San Francisco as job gains generate a suburban land rush. Existing-home prices in Dallas and Houston are rising faster than at any time since the oil boom of the 1980s. Homebuilders, caught off guard by the ferocity of buyer demand, are exhausting construction-ready lots as they struggle to recruit workers to complete houses quickly.

The boom shows that the U.S. real estate market’s rebound is extending beyond areas such as Arizona, Florida, California and …Read Entire Post

Austin-area home sales hit all-time record in July

redhouseoutlineHere’s how hot the Central Texas real estate market is right now: July was the busiest month for home sales in the history of the Austin metro area, according to new data from the Austin Board of Realtors.

A total of 3,135 homes were sold in July in the Austin area, making last month the highest-performing month on record since the board began tracking home sales since the 1960s. The previous monthly record was 2,993 sales in June 2006, the board said.

July’s 3,135 home sales were also a 35 percent jump over the 2,328 sales in July 2012. …Read Entire Post

Austin home sales sizzle; inventory at critical level

redhouseoutlineThe Austin housing market is growing so tight, it could be reaching critical levels, according to the latest report from the Austin Board of Realtors.

Inventory in June dropped to 2.9 months, a decrease of 1.5 months from June 2012. A healthy market should have about six months of inventory. …Read Entire Post