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Lake Travis Real Estate News

U.S. Real Estate Overview

Note: June 2018 data below are the most recent from the National Association of Realtors

According to the most recent data from the National Association of Realtors® (June), sales of existing homes dropped for a third consecutive month in June. The South and West saw dips that outstripped sales advances in the Northeast and Midwest. Sales price hit a new all-time high due to the continuing supply and demand imbalance in most of the nation.

NAR Housing Snapshot August 2018Total existing-home sales (completed transactions for single-family homes, townhomes, condominiums and co-ops), fell 0.6% to 5.38 million in June from 5.41 million in May. After last month’s decline, sales now sit 2.2% below a year ago.

NAR's chief economist, Lawrence Yun, indicated that closings slipped backwards in June and dropped on an annual basis for the fourth straight month. “There continues to be a mismatch since the spring between the growing level of homebuyer demand in most of the country in relation to the actual pace of home sales, which are declining,” Yun said. He added, “The root cause is without a doubt the severe housing shortage that is not releasing its grip on the nation’s housing market. What is for sale in most areas is going under contract very fast and in many cases, has multiple offers. This dynamic is keeping home price growth elevated, pricing out would-be buyers and ultimately slowing sales.”

The national median price for existing homes (all housing types) in June was $276,900, representing a new all-time high and up 5.2% from June 2017 ($263,300). June’s price increase marks the 76th consecutive month of year-over-year gains.

U.S. total housing inventory by June's end grew 4.3% to 1.95 million existing homes available for sale, and sits 0.5% above last year (1.94 million) – the first year-over-year increase since June 2015.

Properties typically stayed on the U.S. market for 26 days in June, unchanged from the last three months and down from 28 days a year ago. Fifty-eight percent of homes sold in June were on the market under a month.

The average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 4.57% in June from 4.59% in May according to Freddie Mac. The average commitment rate for all 2017 was 3.99%

First-time buyers drove 31% of June's sales nationally, down from 32% a year ago. The annual share of first-time buyers in 2017 was 34%.

Tips for Sellers

When preparing your home for sale, a number of simple cosmetic changes often provide the biggest return on investment. Here are three tips to upgrade your house without breaking the bank:

  • Bring in the light. The right light creates the right mood. Adding lights to dark rooms can make your home feel warm and inviting. Bring outdoor light inside by opening curtains and installing economical suntubes.
  • Create Space. Many of today's buyers are looking for open rooms. Consider removing unwanted walls to make your home feel more spacious. Buyers will often pay a premium to get a bit of extra room.
  • Replace Flooring. Get rid of that old carpet in the den and replace it with today's newer hardwoods and laminates. You don't have to spend a lot to make a big impression!

These simple tips can help you sell your home and take advantage of today's market. Please contact us if you have any questions about selling your home. We are here to help!

Schools In Lake Travis Get Top Grades

Summer is well on it's way and it's already time to start thinking about going back to school. If you're looking for the best schools to send your children, then look no further than Lake Travis. The Lake Travis Independent School District received amazing grades from niche.com, one of the top school rating sites on the web. Niche.com gave the district an overall score of A+, with each individual school in the district receiving at least an A.

According to the site, "Lake Travis Independent School District is a top rated, public school district located in Austin, TX. It has 9,238 students in grades PK, K-12 with a student-teacher ratio of 17 to 1. According to state test scores, 93% of students are at least proficient in math and 92% in reading."

You would be hard pressed to find a school district with higher scores anywhere in America. In fact, the district ranked #72 of best schools in America and #9 in Texas! The district also ranked #12 in Safest School Districts in Texas, #13 District with the Best Teachers, and #14 Best Places to Teach in Texas. It doesn't get any better than that!

Niche.com rates school based on a number of factors, such as test scores, parent reviews, and more, creating a balanced review. One reviewer said about Lake Travis High School "I consider myself very lucky to attend Lake Travis High School. The campus is spacious, with new facilities and plenty of resources. When it comes to athletics, we can’t be beat." Another reviewer noted "All of the teachers in the district are devoted to their teachings, and spend the majority of their time trying their hardest to give their students the education they deserve."

Don't take our word for it. Check out the full reviews and list of schools in Lake Travis on Niche.com.

If your'e looking to buy a new home in Lake Travis, you can search homes for sale in the Lake Travis Independent School District to find the ideal home in one of the top school districts in America.

Check back on our blog for more great reasons to buy your next home in Lake Travis and Austin. You can search for the perfect home on our website using our powerful home search tools. You can also get free listing alerts of homes as they hit the market at WelcomeToLakeTravis.com. And you can always feel free to call us at 512-657-4467​ to talk to an experienced agent today.​

 

Contact Information

Photo of Rebecca Shahan Real Estate
Rebecca Shahan
Keller Williams Realty, Austin
1921 Lohmans Crossing, #100
Austin TX 78734
512-657-4467
Fax: (512) 263-0109