Happy Thursday, Michael

This weekend is all about Super Bowl Sunday! Alongside our sneak peek into January stats, discover the top 10 local spots for Super Bowl takeout and the best watch parties in town. Exciting news: Austin has taken the lead in the Milken Institute's Annual Performance Rankings for US cities, marking the first time since 2013!



Investors, we've got the breakdown of 2023 Year End on where home prices saw the most and least growth across the country, and Fannie Mae's Monthly Housing Sentiment Survey Jumps to it Highest Level of consumer confidence since March 2022. Dive into this week's market report, keeping in mind that real estate is hyper-local and highly situational!

This week, we're diving into the initial stats from the January 2024 market. We pulled these stats yesterday (2/7/24).

Highlights for the 5-county MSA!

Units Sold:

1665 up 2.15% from January 2023

(This number is preliminary and may increase as sales are reported in MLS)

Average Sales Price:

$536,455 Down 3.62% from January 2023

Average Days on the Market:

80 days up 15 days from January 2023

Median Sales Price:

$430,000 down 4.43% from 1 year ago

Highlights for the City of Austin!

(Rollingwood, West Lake, and Sunset Valley are included in our City of Austin stats )

Units Sold:

522 down 1.32% from January 2023

Average Sales Price:

$672,306 Down 6.70% from January 2023

Average Days on the Market:

75 days up 17 days from January 2023

Median Sales Price:

$534,500 down 3.25% from last January

The Biggest Observations for January while notable weren't too surprising...

1) The 5 County MSA saw an increase in sales this January, caused by rates dropping in early December and subsequently the jump in pending contracts.

2) Both the MSA and the city had less than a 1% change in Pending contracts compared to last January. A few weekends of freezing weather didn't help transactions any.

3) The 5-county MSA had +4.85% more NEW listings this January while the city had -4.52% fewer. We accredit this is mostly due to the New construction in the suburban markets outside the city of Austin.

Highlights (Month-Over-Month)

• Avg Days to Sell Stayed the same in the MSA at 80 days. In the city Days on the Market increased to 75 that's 10 more days than in December which is understandable due to the Holidays
• Median Sold Price Fell in the MSA by 3.5% to $430K from $445K in December, and decreased in the city by -2.8%to $534,500
• Pending Contracts increased by +17.7% in the MSA and by +22% in the City (Huge Jump from December)
• Months of Inventory went from 3.86 to 4.0 months in the MSA and from 4.3 to 4.3 in the City
• New listings increased tremendously from last month 59.9% in the MSA and by 62.9% in the City

Also don't forget every week we analyze hundreds of properties for positive cash-flowing investor deals.

We're finding gems, packaging them up, and sending them out on a silver platter!

Want to see these deals weekly? Reach out and let us know