Happy Thursday,

Hope you're all recovering from the slightly underwhelming solar eclipse on Monday. Don't worry, though the'll be another one in texas in ~21yrs so save your Glasses.

This week we take a quick look at the Q1 year-to-date market stats for 2024. We'll explore the slowing construction of office spaces in Austin and delve into the latest developments in HOME initiative housing discussions at the city council. For our investors, we've got some insights lined up from the profitable allure of senior housing to tax-deductible home improvements, we've got you covered.

Austin's Slow and Stable Market Stats

March 2024 paints a picture of nuanced shifts compared to its 2023 counterpart. Units sold stand at 2,907, marking a slight dip of 5.92% from the previous year, which is significantly lower than the previous 3 years. However, the average sales price tells a different tale, climbing by 1.56% to $560,215. These fluctuations underscore the dynamic nature of the housing market, the increase in price shows evidence of the stabilization we're seeing, with high-interest rates, it's comforting to see we're back in the positive range year over year appreciation.

So the latest Q1 data for the year-to-date period spanning January to March 2024 brings some intriguing insights. Average sales prices have shown a slight uptick, nudging up by 0.48% to $543,170, with a median price of $428,656. Comparing these figures to the same period in 2023, where the average stood at $540,601 with a median of $435,000, we note a modest yet notable increase. These subtle shifts reflect the ongoing ebb and flow of a wildly shifting housing market in the past, stabilizing, while preferences and market dynamics continue to change.

Updates on the Current Inventory

In the realm of current inventory, the real estate market is buzzing with activity, boasting a whopping 11,596 active listings. With an average list price of $836,378 and a median of $540,322, these properties offer a diverse range of options for potential buyers. Notably, luxury homes priced above one million make up a significant portion, comprising 18.6% of all active listings. Among these, the most prevalent segment falls within the 1 to 1.9 million range, reflecting the enduring appeal of high-end properties in today's market. If you're seeking further insights into the luxury market landscape, reach out, as we have reports tailored to your needs.

The " Under Contract " Update

Turning our attention to active under-contract listings, we find a dynamic market in motion. Although not included in the Inventory Report, these listings provide valuable insights into the market's pulse. Presently, there are 1,978 active under-contract listings, with an average list price of $637,906 and a median of $487,000. Among these, properties priced between 1 to 1.9 million dominate, showcasing continued interest and engagement in this price bracket. With a diverse array of options available, now is an opportune time for buyers to explore the higher-end price points in our Market.

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Also don't forget every week we analyze hundreds of properties for positive cash-flowing investor deals.

We're finding gems, packaging them up, and sending them out on a silver platter!

Want to see these deals? Reach out and let us know