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For Sale: $415,000

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Lake Travis Real Estate News

Housing Report

Note: National Association of Realtors® (NAR) data below is from June (the most current national data)

National Association of Realtors® (NAR) data shows that sales of existing homes dipped in June owing to a low supply. While homes sold at a near record pace, activity ultimately ended up muted. Only the Midwest saw an increase in sales last month.

Total existing-home sales (measures completed transactions for single-family homes, townhomes, condominiums and co-ops) dropped 1.8% to 5.52 million in June from 5.62 million in May. Despite last month's decline, June's sales pace is 0.7 % higher than a year ago.

 Existing Home Sales By Region
NAR's chief economist, Lawrence Yun, indicated that the dip in contract activity in the prior three months translated to a pullback in existing sales in June. "Closings were down in most of the country last month because interested buyers are being tripped up by supply that remains stuck at a meager level and price growth that's straining their budget," Yun said. NAR's economist added, "The good news is that sales are still running slightly above last year's pace despite these persistent market challenges."

Housing Data Takeaways

  • June's median existing-home price for all U.S. housing types was $263,800, up 6.5% from June 2016 ($247,600). Last month's median sales price overtakes May as a new peak and represents the 64th straight month of year-over-year gains.
     
  • Total U.S. housing inventory at the end of June dropped 0.5% to 1.96 million existing homes available for sale, and is now 7.1% below a year ago (2.11 million) and has dipped year-over-year for 25 consecutive months. Unsold inventory nationally now offers a 4.3-month supply at the current sales velocity, which is down from 4.6 months a year ago.
     
  • First-time buyers drove 32% of sales in June, down from 33% both in May and one year ago. The annual share of first-time buyers for 2016 was 35%.
     
  • Freddie Mac data indicates the average commitment rate for a 30-year, conventional, fixed-rate mortgage fell for the third consecutive month, dipping to 3.90in % June from 4.01% in May. For all of 2016 the average commitment rate was 3.65%.

Make Your Offer Count!

Before making an offer on a home in today's competitive housing market, it is more important than ever for home buyers get their financial house in order when applying for a loan.

While there are online resources available that can provide a sense of one's overall financial position, be sure to review your credit report in person with your mortgage professional and get pre-approved for a loan before making an offer on a home.

A little preparation goes a long way and can make a big difference when it comes to closing on your dream home. Contact us today to get the right loan for your current needs!

Looking For the Perfect Place to Build Your Dream Home? Here it is!

Lakeway has long been a destination for people looking to find their dream home.  Lakeway has so many things that make it the ideal place to live. But why not take finding your dream home one step further? Instead of searching for the ideal home, why not build your own? These two prime lots are the ideal place to build the home of your dreams.  Take a look at these great opportunities!

1020 CHALLENGER, Lakeway

This lot is located in the most desirable locations in Lakeway. Many homes in the area are worth over $1m.  The seller is extremely motivated, so bring your best offer!  The gentle slopes will make it an easy build.

Check out the details and photos!

 

601 Eagle, Lakeway​

You won't be able to resist the amazing Hill Country views from your two-story home on this lot (with complete architectural plans available).  Whatever you plan to build here, you'll enjoy the mature oaks that are original to the property, with large spaced out neighboring lots for added privacy.

Check out the details and photos!

 

Looking for something else?  Find more great featured listings on our Features Listings page.

Contact Information

Photo of Rebecca Shahan Real Estate
Rebecca Shahan
Keller Williams Realty, Austin
1921 Lohmans Crossing, #100
Austin TX 78734
512-261-4422
Fax: (512) 263-0109