Happy Thursday

Happy Cinco de Mayo, this weekend!! We are hopeful to see a break in the showers, with some Tequila! 🎉 and Flowers. This is multifamily stats week, breaking down the residential multiplex market. Local news, Elon Musk has an outlook on Austin's growth, why he's bullish, and his tips for investing now! and why Texas is expected to feel a weather-induced financial squeeze.

For Investors, we have the hottest Sunbelt markets, and we'll take a ride with the FED on the mortgage rate roller coaster, lastly, we indulge in our guide to the tastiest tacos and margaritas in town.

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Our Multi-family Data includes Duplexes, Tri-Plexes, and Quadruplexes in the 5 county area Metro. We pulled it from the Austin MLS on 05/01/2024

• Significant Month-over-Month Increase in Market Activity: The data shows a substantial surge in market activity from February to March 2024, with total sales of residential multifamily properties increasing by an impressive 48.00%. This surge indicates a sudden uptick in buyer interest and transactions within a relatively short timeframe, reflecting heightened demand and possibly a favorable market environment for those MF sellers.
• Mixed Pricing Trends with Year-over-Year Growth in Sales: While there are fluctuations in pricing metrics such as average and median sold prices, the year-over-year comparison reveals a remarkable increase of 94.74% in total sales almost doubled March 2023, an uptick is expected for spring season, but this is more than just seasonality. The overall trend suggests a strong and very active market, with a healthy volume transacting, lots of new inventory, a sustained demand and continued momentum in this sector, despite potential shifts in pricing dynamics, if you've been waiting to sell your MF investment property now is just as good a time as any.

YOY Highlights for the Austin MSA Res Multifamly!

Units Sold:

37 units sold, soaring up by a 94.74% from March 2023

Average Sales Price:

$655,361, solid growth of 6.29% compared to March 2023 

Average Days on the Market:

64 days, a reduction of 7.25% compared to March 2023

Pending Contracts:

41, a substantial surge of 70.83% from March 2023.



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