Happy Thursday,

For a minute it Looked like we May be finally transitioning from showers to flowers, hopefully, a bit brighter weather next week, especially after these Mother's Day thunderstorms, Ugh...

This week we dive into the first look at the April Market Stats, highlight UT's prestigious dare we say Ivey league recognition by Forbes, and present Live Music Capitol's outdoor concert series guide as well as all the great Mother’s Day celebrations, and things to do with mom, a lot is unfolding this Spring.

For our investors, we’ve got the latest insights on strategic property enhancements and current market dynamics according to the latest Redfin report to ensure you're informed to take the right moves. If you or someone you know is navigating the Austin real estate landscape, consider this us a go-to resource.

Highlights for the 5-county MSA!

Units Sold:

2,761 homes sold, marking a 7.85% increase from last April

(This number is preliminary and may increase as sales are reported in MLS)

Average Sales Price:

Home prices edged higher to $602,584, a growth of 1.61%

Average Days on the Market:

Homes sold faster, with days on market reducing to 57, down 9.52%

Median Sales Price:

Remained stable at $465,000, showing no change from April 2023

Highlights for the City of Austin!

(Rollingwood, West Lake, and Sunset Valley are included in our City of Austin stats )

Units Sold:

A total of 1,003 homes were sold, up by 9.74% from the previous year

Average Sales Price:

Increased to $808,294, up by 2.99%

Average Days on the Market:

59 days no change from March 2023

Median Sales Price:

Increased to $594,000, marking a 1.71% rise

April's Key Insights

1. Both the MSA and the city of Austin observed growth in average and median sales prices, reflecting a robust market despite interest rates remaining elevated compared to last year. Specifically, in the MSA, the median sales price rose by 4.49% to $465,000 over the last month. In Austin, the average sales price climbed by 5.97% to around $808,294, with the median sales price also up by 4.21% to $594,000, since last month
2. The inventory levels experienced some shifts as well, with the MSA's months of inventory slightly decreasing by 2.10% to 4.20 months, suggesting a steadier market. Conversely, Austin saw a minimal reduction in inventory, maintaining a supply close to previous months at 4.52 months. This level is roughly consistent with the previous year, offering buyers a stable range of choices as new listings continue to enter the market.
3. The market is showing signs of increased efficiency, with average days on the market decreasing notably as we wrap up the school year, folks are on the move. In the MSA, properties are now selling 16.18% faster than in March, taking an average of 57 days to sell. Similarly, in Austin, the average days on the market decreased by 16.95% to 49 days.

Highlights (Month-Over-Month)

• In the MSA, average days to sell dropped to 57 days, down significantly from 68 days in March.
• Median sold price in the MSA increased by 4.49% to $465,000 from $445,000 in March, and in Austin, it increased by 4.21% to $594,000.
• Pending contracts remained steady in the MSA, with no change from March, while in Austin, they decreased slightly by 1.44%.
• Months of inventory in the MSA decreased slightly from 4.29 in March to 4.20, and in Austin, it showed a minor reduction from 4.57 to 4.52.
• New listings increased significantly, with a 8.66% rise in the MSA and a 12.57% rise in Austin from March

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 weekly? Reach out and let us know