Happy Thursday!!

This week, our market report takes on a dual perspective, dissecting the heartbeat of the national averages vs the Austin housing markets. Unraveling insights that bridge local dynamics with broader trends. But it's not just numbers, we've got a riveting blend of community updates with a touch of Austin flair, from Gen Z to Austin FC. Investors get ready to dive into the vibrancy of the multi-family Comeback, and we unpack what's happening in the Luxury Market.

We hope you enjoy it!

The Cossette Team

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Local & Community Update

Texas is the No. 1 destination for Gen Zers on the move

A new analysis by Zillow has pegged the Lone Star State as the No. 1 destination for adults born between 1996 and 2004 - also known as Gen Z. This group is flocking to Texas, and Austin in particular. We are the hotspot for these movers and shakers. which is reshaping real estate dynamics and cultural landscapes.

The Verde Report: The Biggest Questions on Austin FC's '24 Season

Time to Gear up for an exciting Austin FC season with 1st Home Match this Saturday! This Verde Report delves into key questions for 2024, offering insights into star players and tactical strategies.

New Listings This Week

SEE OUR LISTINGS

National Market Report

This video covers what's going on with real estate right now.

RE/MAX National Housing Report for Jan 2024

On a National level, In January, new home listings surged by 66.3% from December and 21.5% from January 2023 across 50 metro areas, signaling a promising start for the spring housing market.

January sales increased by 2.5% compared to 2023 and inventory rose by 1.7% from January 2023, ending a seven-month decline. The median sales price remained stable from December but rose by 5.2% from January 2023.

>>> Austin MSA 5yr Trend Graphs <<<

DFW MSA| Houston MSA | San Antonio MSA

The January new listing surge is painting a promising picture for the year ahead. If you're planning a move, now's the time to partner with a seasoned agent. With more listings and potential rate drops, 2024 could be a golden comeback year for both buyers and sellers, and January set the tone.

Our city's allure, boosted by a Californian influx seeking affordability, sparked a surge in sales. The recent price dip in 2023 added to the appeal, speeding up sales and increasing pending contracts, and New inventory. Some confidence is back, buyers are gearing up for a fantastic 2024, and Investors are already seizing opportunities.

Austin MSA Compared to The National Ave

Austin MSA Jan Stats

# Closed Sales: Up 4.3% from January 2023
Median Sales Price: $430,000 Down 4.4% from 2023
New Listings: up by 5.1% from last January
Ave Days on Market: 86 days up 9 days from 2023
Months of Inventory: increased .2 months to 3.2 months of inventory YOY.

Central Texas Market Report

National Ave Jan Stats

# Closed Sales: Up 2.5% from to January 2023
Median Sale Price: $405,000 up 5.2% from Jan 2023
New Listings: up 21.5% compared to Jan 2023
Ave Days on Market: 45 down 3 days from last year
Months of Inventory: 2.1 in January, up 0.1 from January 2023

RE/MAX National Market Report

New Market Activity by Area

Winter Buyer's Guide

Winter Seller's Guide

Mortgage and Investor Insights

THE FEB 2024 LUXURY MARKET REPORT

In late 2023, the luxury market sprang to life, breaking free from a period of stagnation. Economic indicators turned positive, boosting confidence. The result? Increased inventory and sales, signaling a promising shift.

Multifamily Is Likely To Start Recovering in 2024-Here's Why

In this recent article, BiggerPockets CEO Scott Trench did a great job enumerating all the reasons why multifamily is set up for a stellar comeback in 2024! Uncover the insights that predict a robust recovery. It's time to seize the opportunities!