Happy Thursday!

With the kids back in school and temperatures gradually cooling down, it's safe to say that fall has arrived. After the scorching summer temperatures, I'm sure many of us are ready for a change. Hopefully, mortgage rates will follow suit.

At Yesterday's meeting, the Federal Reserve chose not to raise rates, hinting at a potential rate hike later this year, as they only have two more meetings left. In this week's update, we're sharing an insightful article that delves into the future of mortgage rates, taking into account the Fed's decision. Additionally, we share the Best Week to Buy a home according to Realtor.com, and some valuable information for investors, highlighting why the current market presents the best buying opportunity in 15 months. And of course, it's that time of the month when we provide you with the official August statistics breakdown for each county, complete with informative infographics.

Exciting news on our end – we've kicked off construction for our airplane hangar project in Canyon Lake (pics below). If you're in the market for aircraft storage in central Texas, don't hesitate to reach out. As always, we're here to assist you in navigating the ever-changing real estate landscape, so please feel free to let us know how we can be of help!

This Weeks New Listings

Local Market Update


The housing market in Austin is offering potential homebuyers a fantastic opportunity to be selective, Inventory is the highest it's been in over a decade. With this rise in inventory throughout Central Texas, buyers, particularly those new to the market, can afford to be more patient in their search, with the ability to wait and find a property that truly meets their criteria. This shift is a refreshing change from the intense competition of the past two years, presenting an ideal moment for buyers aiming to step into the market. Now is the time to seize the advantage of this increased bargaining power that buyers are currently enjoying, it won't last too long.

Central Texas Market Report

City of Austin

• 858 – homes sold, 1.3% less than Aug 22.

• $541,000 – Median price, 0.7% less than Aug 22.

• 1,191 – New listings, 1.9% more than Aug 22.

• 2,879 – Active Listings, 22.8% more than Aug 22.

• 759 – Pending sales, 5.8% less than Aug 22.

• 3.9 – Months of inventory, 1.5 mo more than Aug 22

Travis County

• 1,355 – Homes sold, 1.6% less than Aug '22.

• $534,500 – Median price, 4.8% less than Aug '22.

• 1,921 – New listings, 2.4% more than Aug '22.

• 4,772 – Active listings, 17.7% more than Aug '22.

• 1,205 – Pending sales, 4.1% less than Aug '22.

• 4.1 – Inventory, 1.4/mo more than Aug '22.

Williamson County

• 971 – Homes sold, 1.7% more than Aug '22.

• $435,516 – Median price, 8.7% less than Aug '22.

• 1,241 – New listings, 14.7% less than Aug '22.

• 2,867 – Active listings, 7.9% less than Aug '22.

• 906 – Pending sales, 5.7% more than Aug '22.

• 3.2 – Inventory, 0.3/mo more than Aug '22.

Get the Zip Code Report

Despite the challenges of higher interest rates, August showed a decent increase in home sales. This upswing, both year over year and month over month, shows that buyers view homeownership as a sound investment even in this crazy rate climate.

But despite this temporary increase in inventory, we've seen these last 18 months, in the long term the whole region still grapples with a shortage of available homes, especially those that are affordable. A big obstacle is Austin MSA's crazy high development fees, hurting developers of new home construction and slowing the growth of our housing inventory. On top of all that the uptick in mortgage rates has led potential sellers to hold their properties with mortgages they have low rates on, exacerbating the shortage of homes until life circumstances force them to sell.


• 417 – Homes sold, 5.3% more than Aug '22.

• $394,990 – Median price, 10.1% less than Aug '22.

• 586 – New listings, 22.3% more than Aug '22.

• 1,550 – Active listings, 33.9% more than Aug '22.

• 384 – Pending sales, 8.2% more than Aug '22.

• 4.2 – Inventory, 1.1/mo more than Aug '22.

Bastrop County

• 154 – Homes sold, 29.4% more than Aug '22.

• $339,990 – Median price, 15.0% less than Aug '22.

• 244 – New listings, 18.5% more than Aug '22.

• 586 – Active listings, 28.0% more than Aug '22.

• 146 – Pending sales, 19.7% more than Aug '22.

• 4.8 – Inventory, 1.2/mo more than Aug '22, the MSA's highest.

Caldwell County

• 42 – Homes sold, 17.7% less than Aug '22.

• $299,990 – Median price, 6.9% less than Aug '22.

• 92 – New listings, 61.4% more than Aug '22.

• 180 – Active listings, 95.7% more than Aug '22.

• 45 – Pending sales, 4.7% more than Aug '22.

• 4.4 – Inventory, 2.2/mo more than Aug '22.

Get the Market Area Report

New Listing Activity

Market Insights

The Best Week To Buy a Home in 2023 Is Coming: Are You Ready To Make Your Move?

A home shopper looking to save five figures on a house should circle this week in the fall as the best time to buy a home. Realtor.com® has crunched the data and determined that the best week to buy a home in 2023 will be Oct. 1–7. Realtor.com looked at a variety of housing metrics, including list prices, inventory levels, new listings, days on the market, homebuyer demand, and price reductions in 2018, 2019, 2021, and 2022. also analyzed weekly housing data in 2023, and here's what they found

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What the Fed's Interest Rate Pause Means for Mortgages

The Federal Reserve announced Wednesday that it won't hike interest rates, which will have a ripple effect. Considering that the Fed did not raise interest rates in September, mortgage rates won't get the jump they likely would have if there had been. However, mortgage rates will likely remain above 7% for the foreseeable future due to the "reacceleration of inflation."

Read More

The Best Time to Buy Real Estate in Over 15 Months is Right Now-Here's Why

Don't sit this one out. Now is the time for investors to buy up the properties they have their eyes on, because Right now, while real estate supply most people aren’t buying (because they can’t afford it), and investors don’t want to borrow because they are waiting for rates to drop (and they will very soon), you need to buy. Here’s why. 

Read More

Mike & Steve Cossette 

(512) 299 5904

[email protected]

Do you know anyone who may need my services? Feel free to pass this email along so I can chat with them about their real estate needs!

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