If you are a current homeowner or future home buyer, you would want to know what could affect the value of your home positively or negatively, right? We want to discuss how transportation systems can affect real estate and specifically, how “Project Connect” could affect real estate in Austin.

It’s no secret that Austin’s population has been growing substantially. There has been a plethora of businesses relocating to Austin and expanding their operations in Austin, causing a big increase in job creation in the city.

At the beginning of the Covid-19 pandemic, stay-at-home orders were implemented and there were dramatically fewer cars on the road. During this period, there was a temporary reprieve from Austin’s long commutes which allowed the Central Texas Regional Mobility Authority to address key traffic issues and make headway on projects that might have been limited by the usual congestion on key roads.

This dramatic hillside home in Lakeway is sure to take your breath away with both its one-of-a-kind form and its views. An iconic treasure, the 2,240 square foot Sand Dollar House was completed in 1979 by John Covert Watson who studied architecture under the legendary Frank Lloyd Wright at the time he was building the Guggenheim Museum in New York.

Q3 ended with a slight dip in intensity compared to Q2 but put up incredibly strong numbers.  Prices spiked up 4% in Q3. Inventory averaged across all price bands/areas is at an incredibly low 1.5 months –  the LOWEST inventory I’ve seen in 10 years.  Year-over-year- the market experienced a 31% spike in sales volume, a corresponding 44% decrease in active listings and prices are up 10%.

Unless you’ve been hiding under a rock, the world has shifted dramatically in the past several months and office work has shifted to home office work and some argue that the trend might stick. Even before Covid-19 hit, there was an upward trend toward remote work especially here in Austin. Here’s a quick list to get you started.

Austin’s workers and small business owners current struggle to survive might be an ongoing issue into 2021.

During 2020, Zoom has grown explosively and ascended past big competitors such as Cisco, Microsoft and Google.

Home prices in Austin are breaking records this summer.

I had predicted stronger Q2 than most were expecting (in spite of covid likely to keep 30% or so of Buyers and Sellers on the sidelines) due to our economic and market fundamentals. The market performed even better than I predicted. 

We agree that low inventory plays a part but know that demand is still here in Austin!

Mirroring projections in our market update on unemployment, we have a tendency to agree with these economists!

We concur! Austin real estate is bouncing back!

Q1 2020 ended with very strong performance yet marred in uncertainty with covid and shelter-in-place orders.  Prices moved up a robust 3-4% and supply ended at a scant 2 months.  Tier-1 homes (priced right, no major flaws and wow factor) sold within days with multiple offers and average of 3-5% over list price.

Top 3 Reason Why Austin Real Estate Will Survive Covid-19. Find out more details in the links above or through our website and stay up to date on our social media links.