I’m a client-centered Realtor in Austin, TX who covers everything from studio apartment leases to multi-million dollar home sales. Carnegie Mellon University & Deloitte alum. Wife & mom to 2 daughters. Subscribe for all things Austin, from market stats to what's going on this weekend.
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This Month in ATX: Real Estate, Restaurants, Recipes, & More
Published 7 months ago • 5 min read
The Monthly Edit
April in Austin, TX
Hello, April!
The spring market is OFFICIALLY here! With SXSW and the kids back in school after spring break, we're officially in peak real estate season.
March was nothing short of amazing. My clients have been keeping me on my toes, from securing one-bedroom leases for newcomers to helping multiple first-time homebuyers get the keys to their new homes. Nat and I also managed to sneak in some travel with the girls, including our second annual ski trip to Copper Mountain and a quick weekend getaway to NYC. Between work, travel, and fighting off the flu last week, I’m very grateful to be settling back into a bit of normalcy as we head into the busiest season of the year for real estate.
On the macro side, the Fed held rates steady at its most recent March meeting. Recent global events continue to push energy prices higher, and mortgage rates have been a bit volatile. Earlier this year, many buyers were locking in rates under 6%, but more recently we’ve seen rates float back up into the low-to-mid 6% range.
Looking ahead to the next quarter, most forecasts call for rates to remain relatively stable or trend slightly upward. The market is adjusting to a “higher for longer” rate environment, where short-term fluctuations are expected, but a sharp drop in borrowing costs is unlikely in the near future.
As always, if you're a buyer, seller, landlord, or renter, it's important to seek advice from an expert with deep local market knowledge. And if you're none of those things, I still think it's valuable to stay informed. So without further ado, let's get into it.
ATX Market Update
Median Sales Price: $540K (- 2.7%)
Average Days on Market: 82 days (+ 3 days)
New Listings: 1,399 (- 3.8%)
Active Listings: 3,148 (+ 13%)
Pending Listings: 923 (+ 15.1%)
Months of Inventory: 6.2 months (+ 1 month)
Close-to-List Price Ratio: 92.1 (was 92.9% last year)
*Statistics were pulled from MLS and compare year over year
What It Means for Buyers
February’s data shows that buyers still have leverage, but it’s becoming more nuanced. The median sales price came in at $540,000 (↓2.7% YoY), and homes are closing at 92.1% of list price on average, which is slightly stronger than prior months. Buyers are still able to negotiate, but not quite as aggressively as prior months.
The most important stat this month is pending sales, which is up a whopping 15.1% year over year. That’s a clear signal that buyers are re-engaging in a meaningful way as we head into peak season. At the same time, inventory jumped to 6.2 months, giving buyers more options and keeping pressure on sellers who aren’t priced correctly.
Bottom line for buyers: you still have room to negotiate, especially on homes that have been sitting, but competition is picking up in a big way for well-priced homes. The best properties are starting to move faster, and in some cases, multiple offers are back in play.
What It Means for Sellers
For sellers, February introduces a bit of a mixed signal, but an important one. While demand is clearly increasing (as seen in the rise in pending sales), inventory has also expanded significantly, which means buyers still have plenty of choice.
Pricing power remains limited. Even with stronger demand, homes are still closing at about 92% of list price, and average days on market remain elevated at 82 days. Buyers are active, but they are still value-driven and willing to walk away from homes that don’t meet expectations.
That said, the increase in pending sales is encouraging because it means that buyers are stepping back into the market, and sellers who are priced correctly and present their homes well are starting to benefit from this renewed activity.
Local Happenings
Sat 4/11 | 10AM - 5PM
ABC Kite Fest
Head to Zilker for the 98th annual kite fest, one of Austin’s most beloved, family-friendly traditions. The festival will have day-long activities for all ages, including the classic kite flying contest and showcase, as well as MossFest, a children’s concert.
Established in 1978, the Statesman Capitol 10K has grown to become the largest 10K in Texas and sixth largest in the country! After running, enjoy the Finish Line Festival that will have free massages, food vendors, cocktails, a kids’ zone, autograph wall, live music, photo ops, and more!
Head to UMLAUF Sculpture Garden + Museum for its annual Garden Party this month! You’ll get to try over 25 of Austin’s top restaurants, including Michelin-starred and James Beard Award-winning chefs like Amanda Turner of Olamaie, plus favorites like Eberly, Intero, Truluck’s and many more. There will also be specialty Tito’s Handmade Vodka & Desert Door cocktails, a curated wine and beer selection from Twin Liquors & Pinthouse Brewing, plus live music.
Master scissor artist Karl Johnson will create a one-of-a kind silhouette portrait of your little one! Each portrait is cut entirely freehand, using only scissors and a skillful eye. He'll be at SparkleKids (BEST kids thrift shop!) on 4/17 and at Dearly Baby on 4/18 . Appointments are $35 for a 5-minute slot, perfect for a Mother's Day gift (coming quickly on May 10th!).
These guys have been all over my feed and I can't wait to try! They're posted up at Daydreamer on the Eastside, I've got my eye on The DeLuca, their classic Italian hoagie. Soppressata, hot capicola, Genoa salami, provolone, lettuce, tomato, onion, olive oil, and vinegar on their fresh sesame seeded roll.
I think this is the restaurant I'm most excited about this year! I love an oyster bar moment and this has been a long time coming after years of pop ups around the city. Their menu looks delicious. Beyond their oyster selection, I'm eager to try their bluefin tuna tartare, clam "stuffies", lobster roll, cheeseburger, garlic mayo fries, and their shells and cheese. Basically the whole menu!
Seared Chicken Thighs with Garlic-Ginger Broth & Rice
Another one from Alex Snodgrass! Full disclosure, I haven't made this one yet but I plan to try it this month. I love that it's a one-pot recipe that makes for easy clean up for a weeknight meal, especially as we settle in after so much travel lately.
I have heard SO many good things about this book and I finally started listening to it on Audible this week. The author reads the story to you, which you know I'm a sucker for. So far so good!
Gwyneth Paltrow is also set to start in the Netflix film adaptation of the book, but they haven't released much information on when or who else will star in it.
Compass is a licensed real estate broker. All material is intended for informational purposes only and is compiled from sources deemed reliable but is subject to errors, omissions, changes in price, condition, sale, or withdrawal without notice. No statement is made as to the accuracy of any description or measurements (including square footage). This is not | intended to solicit property already listed. No financial or legal advice provided. Equal Housing Opportunity. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions.
2500 Bee Caves Rd Building 3, Suite 200, West Lake Hills, TX 78746 Unsubscribe · Preferences
Cosette Eliason
Austin Realtor at Compass
I’m a client-centered Realtor in Austin, TX who covers everything from studio apartment leases to multi-million dollar home sales. Carnegie Mellon University & Deloitte alum. Wife & mom to 2 daughters. Subscribe for all things Austin, from market stats to what's going on this weekend.
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