September continued to hold steady sales growth for the Austin Round Rock MSA. Compared to last year’s 5% sales decline, this year’s slight 1% decline is the product of strong summer sales growth. “Austin-area housing market activity has bucked the trend of a cool-weather slowdown over the last several years, maintaining much of the momentum from the summer months through the end of the year,” according to Steve Crorey, 2018 president of the Austin Board of REALTORS®.
Real Estate Stats At A Glance:
- Single-family home sales activity down 1% to 2,368
- The median price for a single-family home up 4% to $302,250
- Average of days on the market down to 53 days
- Average of 3.0 months on inventory no change
- New listings on the market down 2% to 2,790
- Active homes on the market up 5% to 7,706
- Pending homes on the market up 3% to 2,362
Could Amazon HQ2 Cause A Housing Price Surge Austin?
It’s no secret that the housing market in Austin is booming, but if Amazon HQ2 comes to town it is speculated to have a huge impact on the housing market. It’s projected that housing prices would rise anywhere from 8%-16% due to Amazon alone. To counter that, Austin would be tremendously impacted by this move positively as well, over 50,000 high paying jobs would be promised to the community. Austin is already home to many brand headquarters such as Whole Foods, Yeti, HomeAway, Indeed, Kendra Scott, and many more. At this time, there are still 20 cities in the running for Amazon HQ2.
1-800 Contacts Founder Turned Austin Developer?
Former entrepreneur and Utah native Jonathan Coons is planning to develop 144 acres West of the Pennybacker Bridge. This development would include single family homes, condos, a cliff top restaurant, clubhouse, and office space. This multimillion dollar project- tentatively named Camelback, is Coon’s first dip into real estate development. What inspired this development you ask? “Coon, 48, and his wife, Kristen, have long coveted Camelback since moving to Austin in 2009. The Dallas natives wanted to build a house there after their three adult children moved out. But they couldn’t afford to live there without some kind of commercial development, Jonathan Coon said. So Coon, who founded 1-800-Contacts in his dorm room in 1992 and built it into a multimillion-dollar business that went public, turned the Camelback property into his new passion project.”- Marissa Luck ABJ.
New Braunfels Cattle Ranch Turned Into 691 Acre Living Community
Austin developer Randolph Todd and Illinois developer Crown Community are coming together to build a 691 acre in Northwest New Braunfels. This previous cattle ranch will be home to 1,600 single family homes, 113 condos, a community pool/clubhouse, recreation fields, a trail system, 200 acres of green space, and a main gathering space. “We are preserving the natural terrain, as well as the old homestead building from the original German settlers from 1852,” said , a partner at Randolph Todd Development, in a statement. “Our main goal is to preserve the land with sensitivity and give our residents a strong sense of community and connectedness.”
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