real estate report

Austinites waiting for the right time to buy a home should buy now, new report says

Median home prices in the Austin-Round Rock MSA dropped to $424,450 in November 2023.

Courtesy of Realty Austin

Elevated mortgage rates and declining home prices in November allowed for more accessible housing options, but many homes in Austin are still out of reach to the average buyer, the Austin Board of Realtors has revealed in a new report.

In the Austin-Round Rock metropolitan statistical area (MSA), median home prices dropped more than 8 percent to $424,450 in November, and more than 2,000 homes were sold. There were more than 9,300 active home listings on the market, and pending sales increased 9.2 percent year-over-year to 2,065.

Even with the lower prices, Austin-area homes are spending more time on the market than in previous months, averaging about 75 days in November. According to 2023 ABoR president Ashley Jackson, Central Texas homebuyers now have a greater selection of inventory to choose from than in past years.

"The drop in median home prices indicates buyers can be a little more selective in the search for a home that checks all their boxes," Jackson said. "For buyers actively shopping for a home — and those who have been sitting on the fence waiting for their time to strike — now is the time to contact your realtor and get serious about buying a home."

ABoR housing economist Clare Losey, Ph.D. added that increased mortgage rates were balanced out by the "moderation" in home prices, which also helped the ongoing issue regarding affordability. There is some optimism ahead in the coming year.

"Rates peaked in late October and early November, signaling a rise in buyers’ purchasing power moving into 2024," Losey said.

Travis County
840 homes were sold in November in Travis County, with median prices dropping nearly 2 percent year-over-year to $510,000. There were 4,489 active listings on the market; about 15.2 percent more than November 2022.

Williamson County
Nearly 700 homes were sold in Williamson County, with median prices falling to $416,545. There were 818 new home listings, with a total 2,587 active home listings.

Hays County
381 homes were sold in Hays County, which was a massive 41.6 percent jump in comparison to November 2022. Median home prices have dropped to $368,995; a 10.3 percent decrease year-over-year. Active listings also rose 20 percent to 1,503 homes.

Bastrop County
Home sales in Bastrop County fell 17 percent with only 88 homes sold in November. Median prices have settled at an even $349,000. There were 566 active listings on the market and 147 new home listings.

Caldwell County
Homes in Caldwell County sold for a median price of $313,275. A total of 59 homes were sold, which was more than 50 percent more than the same month the year before, and there were 189 active homes on the market. Caldwell County had 40 new homes on the market in November.

a barton creek paradise

$15.2 million Austin sanctuary is in the middle of a nature conservancy

The Sanctuary on Barton Creek, Austin home for sale

Photo courtesy of Peyton Skinner

The Sanctuary on Barton Creek sits on 24 acres of untouched Hill Country land.

Living on an expansive estate teeming with untouched nature and vegetation may seem like a priceless dream, but a lavish property in West Austin has a cost in mind: $15.2 million.

Photo courtesy of Peyton Skinner

The Sanctuary on Barton Creek sits on 24 acres of untouched Hill Country land.

The Sanctuary on Barton Creek is a 24-acre estate with an Austin address, although it is located near Bee Cave, a Hill Country suburb. The entrance of the property is double gated, and the area is completely surrounded by a 4,100-acre nature conservancy to provide a peaceful and private escape from the ever-changing landscape of the Texas capital.

The 7,931-square-foot main house contains seven spacious bedrooms, five full bathrooms, and one half bath. The listing, managed by Douglas Elliman sales agents Jeanne Parker and Julie Mack, describes the modernly updated home as a place where "elegance and comfort intertwine seamlessly."

The Sanctuary on Barton Creek, Austin home for sale The estate is a private and peaceful oasis.Photo courtesy of Peyton Skinner

The new Wolf appliances in the state-of-the-art chef's kitchen is a primary example of the sophisticated upgrades that have been completed on the residence. The primary bathroom has also been completely remodeled, where the next owners can be enamored with the privacy of the Hill Country while enjoying luxurious baths in the standalone soaking tub.

Another key feature of this home is its abundance of fireplaces, which can be found in bedrooms, living areas, balconies, and outdoors.

The property is also suited for hosting friends and family with two additional buildings: A fully equipped guest house, and a lofted "executive lodge" that can be used as additional guest quarters, game room, or executive office.

Like the rest of the residences on the estate, the executive lodge has breathtaking views of the Hill Country that can be admired from the spacious balcony or large windows. The space sits above a three-car garage that comes with a pull-through for a RV and a dog washing station.

The Sanctuary on Barton Creek, Austin home for sale The spacious executive lodge also comes with a kitchenette, making it suitable for hosting guests or using as an office.Photo courtesy of Peyton Skinner

All of the residences open up to the backyard pool area where guests can relax under the covered veranda, the patio, or take a dip in the resort-style custom designed pools. There's plenty of outdoor activities to enjoy if exploring the property's untouched 24 acres is a more appealing alternative to sitting by the pool.

"Enjoy honey made from the hives on the property which provide not only an agricultural exemption, but also promote a healthy environment for everyone," the listing says.

Guests are also welcome to go fishing or paddle boarding in Barton Creek, where the estate has more than 200 feet of grassy shoreline access to the water.

The property is zoned for Lake Travis Independent School District, and is situated just minutes away from the Hill Country Galleria in Bee Cave.

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