Happy Thursday, Michael

The full week in July is almost over, and following suite with Market Activity its going to get cold!

This week we cover the 6th Street remodel set for 2024, Some insight into the 6X rate reduction rumor set to occur in 2024. 1st look into the local Stats for November. Zillow's market forecast and Bigger Pockets outlook on the 2024 rental markets.

Also don't forget every week we comb through hundreds of properties and analyze them for positive cash-flowing investor deals. We're finding gems, packaging them up and sending them out on a platter!

Want to see these dels every week? Reach out let us know or sign up here to get on that list.

Happy Holidays! And feel free to share this info or email with anyone we're here to help!

This week, we're diving into the initial insights from November's market we pulled these stats on Dec 6th, and Here are the Highlights for the 5 county MSA!

Units Sold:

1934 down 6% from November 2022

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

Average Sales Price:

$560,102 down 2.41% from November 2022

Average Days on the Market:

67 days up 21 days from November 2022

Median Sales Price:

$422,825 down 6% from 1 year ago

Keeping a close eye on our stats at the start of each month allows us to track market trends, providing you with the insights needed for informed decisions!

The most important observation for November is that even though we have 11% less sales than last month prices remained realitivley flat and months of inventory fell with 15% fewer new listings

Highlights (Month-Over-Month)

• Avg Days to Sell slightly increased by 5 days in the MSA from 62 days to 67 and decreased by 1 day in the city from 60 to 59.
• Median Sold Price stayed about the same in the city of Austin at $575,000 while dropping by 2.8% from $435K to $422K in the MSA.
• Pending Contracts fell by 7.81% in the MSA and by 7.74% in the city
• Months of Inventory in the MSA decreased by 16.03% from 4.53 to 3.8, with a slight 3.35% increase in the Metro, from 4.48 to 4.63
• New listings Decreased by 15.10% in the MSA and 21.32% in the City

Check Out Our New Winter 2023/2024 Buyers Guide

Ready to Buy Local, here are some great spots and Ideas

Thinking about Selling this Winter? You should check out our Winter Guide for Sellers

CLICK HERE FOR THE MARKET REPORT ARCHIVE