It has certainly been a long and unpredictable winter in central Texas! Now that the cold season is finally behind us, we’re hoping you’re doing well and feeling some relief from our uncharacteristically cold winter. While the weather brings some relief, so does the real estate climate, and we’re glad to see that some things are looking vastly different from last spring. We’re ready and happy to help you navigate the spring housing market here in Austin.
Great news for sellers
One thing we know to be certain, these longer days are inspiring Austinites to head outdoors. Those chirping birds and sprouting greenery are sure signs it’s finally Spring. As we all emerge from hibernation, Austin’s housing market is waking up after February’s winter storm too. Low interest rates are great for buyers, while a quickly moving inventory makes it a great time for sellers.
Last month, the central Texas housing market continued to crash through records, despite crippling winter storms. In fact, Austin’s median home price (inside the city limits) exceeded $491,000 which is a 24% leap over this time last year. According to the Austin Board of Realtors Central Texas Housing Report, it’s the highest it has been ever on record! This is great news for sellers while inventory remains low, but can prove challenging for those interested in buying a home this season.
Mortgage Forbearance
If you’ve placed your mortgage into forbearance due to the due to the coronavirus pandemic, or are finding yourself in a short sale situation, our agents are here to walk you through the ins and outs of your sale. Give us a call today, so we can assist with what steps to take to get your finances and your property ready for the sale of your home.
Great news for buyers
While we’ve got lots of great tips for how to make the most of your offer or choosing the right agent for the job, we’ve also got the details of all the newest, hottest, and most sought after developments in the area.
Hanover Brazos Street- 201 East Third Street
Ground has been broken on this 44-story residential tower. It has plans to hold 310 apartment units with ground level restaurants and retail space on the south-west corner of Fifth and Lacaca streets. It will feature a nine-level above-ground parking garage topped by 32 stories of apartments. The top two levels have plans to include community amenities including a pool.
A greener Austin
It’s not just April showers bringing those May flowers this season. Austin’s businesses, nonprofits and residents alike are working together to create places and spaces which promote sustainability and conservation.
The Presidium Waterford Building
Presidium released information in March stating that their newest building was being built with environmentally friendly factors in mind. The upcoming development will include a rain bio-filtration system and energy efficient appliances in each of the 283 residential units. Their eco-conscious plans integrate smart technology, like thermostats and lighting, into each unit too.
The Brodie Oaks Retail Center
The ball has been set in motion to promote a $1 billion plan to develop South Austin’s Brodie Oaks shopping center into a space that focuses on highlighting ecology, conservation and green space. The project allots 37.6 acres to a mixed-use development which will consist of restaurants, more than 1,600 residential units, office and retail space, and a hotel. However, the part of the plan which makes environmentalists smile is that approximately 13.6 acres, will be parkland and open space, with additional trails and sidewalks within that open space to increase greenbelt access to the Barton Creek Greenbelt. While the project still awaits final approval, it’s looking like it will be a beautiful addition to the character of South Austin.
Urban Roots is planting seeds of change for area teens
Urban Roots is a local nonprofit that is working to use farming and cooking to inspire Austin’s youth. The organization recently planted fruit trees and crops on its 6-acre Southeast Austin and plans to hold its first harvest in spring 2022. They plan to offer paid opportunities for individuals ages 14-23 to grow produce which will be provided to those in need.
According to Executive Director Frances Deviney, Urban Roots is also planning to build a large administrative building with staff offices, a community space and a commercial kitchen at the site in the future. The farm is located at 4711 Winnebago Lane, Austin. This is the second farm for Urban Roots, their first property is located on 3.5 acres in East Austin at 7651 Delwau Lane, Austin.
More excitement for Austin’s spring
The city of Austin is finalizing plans to safely open all of our indoor and outdoor events. We can’t wait to see you out and about.