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Lake Travis Real Estate News

U.S. Real Estate Overview

Note: October 2018 data below are the most recent released by the National Association of Realtors.

Existing-home sales increased in October after six straight months of decreases, according to the National Association of Realtors®. Three of four major U.S. regions saw gains in sales activity last month.

Total existing-home sales (transactions including single-family homes, townhomes, condominiums and co-ops) increased 1.4 percent from September to a seasonally adjusted rate of 5.22 million in October. Sales are now down 5.1 percent from a year ago (5.5 million in October 2017).

National Association of Realtors October 2018 DataNAR's chief economist, Lawrence Yun says increasing housing inventory has brought more buyers to the market. “After six consecutive months of decline, buyers are finally stepping back into the housing market,” he said. “Gains in the Northeast, South and West – a reversal from last month’s steep decline or plateau in all regions – helped overall sales activity rise for the first time since March 2018.”

The median existing-home price for all housing types in October was $255,400, up 3.8 percent from October 2017 ($246,000). October’s price increase marks the 80th straight month of year-over-year gains.

Total housing inventory at the end of October decreased from 1.88 million in September to 1.85 million existing homes available for sale, but that represents an increase from 1.80 million a year ago. Unsold inventory is at a 4.3-month supply at the current sales pace, down from 4.4 last month and up from 3.9 months a year ago.

Properties typically stayed on the market for 33 days in October, up from 32 days in September but down from 34 days a year ago. Forty-six percent of homes sold in October were on the market for less than a month.

Per Freddie Mac data, the average commitment rate for a 30-year, conventional, fixed-rate mortgage increased to 4.83 percent in October from 4.63 percent in September. The average commitment rate for all of 2017 was 3.99 percent.

First-time buyers were responsible for 31 percent of sales in October, down from last month and a year ago (32 percent).
 

 

Find the Right Coverage

When purchasing a home, you will need to acquire homeowners insurance. In fact, all lenders will require a policy to be in force prior to funding the loan. Make sure you have enough coverage should anything happen. Policies refer to "replacement costs" that may not cover everything. You should ask your insurance agent a lot of "what if" questions. The deductible amount also plays a big part in setting your premium. Higher deductibles lower the number of claims, and reduce your insurance costs.

Check with your insurance agent for more information on these issues and others. If you don't have an insurance agent, we have access to several top-notch agents to whom we can refer you with confidence.

Liven Up Your Holidays With the Flavors of Lakeway

There's no better time than spending the holidays on Lake Travis. And if you plan to do so, then make sure you stop by Lakeway for some of the best food to be found near the lake. Here's a few of the top restaurants in Lakeway that are sure to liven up the holiday.

Santa Catarina

Rated the top restaurant in Lakeway by TripAdvisor.com, Santa Catarina features authentic Mexican cuisine. This isn't the usual TexMex fare.  They prepare their dishes with fresh ingredients and imagination, like their black beans and rice with pickled onions. Or enjoy their renowned Conchinita Pibil (tender chunks of pork steamed in a banana leaf), the Huitlacoche, or the savory roasted-corn soup.

Sundancer Grill

Winners of the People's Choice award in 2014 and 2015 by the Taste of Lake Travis, the Sundance Grill is a casual bistro experience located right on the water. Enjoy the view of the marina while you indulge in featured burgers like the Hickory Burger,  chef crafted salads, sandwiches, steak and seafood prepared with fresh ingredients. 

Little Greek Fresh Grill

If you enjoy a great gyro or Greek salad, then you've found the right place. Little Greek also features some of the best desserts you'll find near the lake. Little Greek is an ideal choice for takeout as well so you can enjoy your tasty treats down at the lake.

Mod Pizza

You can build your own artisan pizza at this top pizza restaurant in Lakeway. There's endless toppings to chose from, so indulge your imagination. And of course they have equally delicious salads.  You chose your topping from an assembly line counter, making sure your pizza is created perfectly to your taste. Plus your pizza comes out super fast so you don't have to wait to indulge your tastebuds.

Make sure to stop by Lakeway the next time you come to the lake.  And check back on our blog for more great things to do 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.​