Market Data

February 2018 Market Report

Easter Sunday pushed this post a few days late, but the February market report is here! In the Austin area, the median price of single-family homes was $290,900, a 1.36% increase from last February. There was a slight increase in the number of homes sold compared to last February.

Inventory of total available homes is still sitting at just under 2 months. This is under the ideal amount of homes for sale in a balanced market, but also is one of the slower months for buying and selling real estate. Buyers can likely expect rising home prices and higher competition due to the inventory shortage, while sellers can expect to encounter a larger pool of buyers as we near the summer months.

February Market Report

February 25, 2018

Buy | Rent | Resources

What’s Going On in East Austin?

If you’ve taken a drive downtown lately, you may notice that there’s a ton of new construction going up in East Austin.

The City of Austin has zoned almost everything from Airport to Downtown to be redeveloped. The impact this has had on East Austin is massive. It’s drawn flocks of investors to the East corridor for home teardowns, renovations, and new projects.

If you’re thinking of living or investing in the next trending Austin neighborhood, here’s a couple new developments to keep on your radar.

1. Tyndall Condos

On the east side of I-35 next to AMLI and Eleven apartments, a new 176-condo complex is well underway. Renowned designer Joel Mozersky has created gorgeous interiors, and the builders angled Tyndall so that almost every condo has a downtown view. Pricing just increased with the announcement of a new Whole Foods just blocks away, but units can still be purchased under $350,000.

2. Plaza Saltillo

Where will the new Whole Foods be? Plaza Saltillo! What was once a series of distressed blocks is now zoned to become Central East Austin’s first office tower. The plaza will also hold 800 apartment units and more than 100,000 square feet of retail space by mid-2019.

3. Osten Hall

Just a block east of I-35 is an old parking lot and warehouse recently approved to become a five-story creative office building with ground-floor retail. The project will be a loft-based design with a variety of community spaces. To accommodate cyclists and commuters, there will be an open-concept lobby that integrates with the sidewalk of East Sixth.

4. Main Street Hub 

Main Street Hub is moving from Downtown to East Austin. The new building will be constructed on East 6th between Chicon and Robert Martinez, Jr., and is slated to open in 2019. The building will have 114,000 square feet of office space, an outdoor balcony, rooftop patio, bicycle storage, and showers. There will also be designated parking for food trucks.

These are just a few examples of what’s coming to East Austin. If you are interested in talking investment details or are thinking of eventually buying in the area, contact me to talk about what timeline makes the most sense before prices rise.

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February 21, 2018