Happy Thursday,

We hope everyone had a relaxing Easter. We are just a few days away from experiencing total coverage. This weekend, people from all over the country will be heading to central Texas, with over a million visitors expected to arrive in the greater Austin MSA.

To start off this week's report, we are sharing the ultimate guide to the 2024 Solar Eclipse Events in Central Texas. Additionally, we have a breakdown of the first-look stats and an explanation of why the stats and market dynamics indicate that mid-April is the best time to sell a house in 2024.

For our investors, we have some valuable insights as well. Check out the top single-family rental markets in 2024 according to ATTOM Data. We hope you enjoy, and feel free to share!

Highlights for the 5-county MSA!

Units Sold:

2527 down 8.54% from March 2023

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

Average Sales Price:

$577,744 Up 2.28% from March 2023

Average Days on the Market:

68 days down 2 days from March 2023

Median Sales Price:

$445,000 up 1.11% from 1 year ago

Highlights for the City of Austin!

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

Units Sold:

876 down 4.37% from March 2023

Average Sales Price:

$762,789 Up 3.78% from March 2023

Average Days on the Market:

59 days no change from March 2023

Median Sales Price:

$570,000 down 3.12% from last March

March's Key Insights:

1. Both the MSA and the city witnessed an uptick in average and median sales prices, despite rates remaining a full point higher than last year. Additionally, pending contracts surged by 10% in the MSA and 8% in Austin.
2. Inventory levels have increased in both areas, reaching 4.3 months in the Metro and 4.5 months in the city. This is about a full month more than 2023 which benefits buyers, offering more options, as new listings continue to rise with pent-up inventory hitting the market.
3. Average days on the market, which has been steadily climbing for two years, is now showing signs of stabilization. In fact, the MSA experienced a 2.8% decline, while Austin saw no change from 2023. This trend suggests a potential reversal in the market's direction.

Highlights (Month-Over-Month)

• Avg Days to Sell Dropped 11 days in the MSA. In the city days on the Market dropped to 59 from 72 days in February
• Median Sold Price Increased in the MSA by .91% to $445K from $441K in February, and increased in the city by 4.20% to $570,000
• Pending Contracts increased by +11.68% in the MSA and by +15.80% in the City (Huge Jump from February)
• Months of Inventory went from 4.0 to 4.12 months in the MSA and from 4.44 to 4.57 in the City
• New listings increased from last month 20.36% in the MSA and by 22.47% in the City

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