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Lake Travis Real Estate News

U.S. Real Estate Overview

Note: April 2019 data below are the most recent released by the National Association of Realtors.

Existing-home sales saw a minor decline in April, continuing March’s drop in sales, according to the National Association of Realtors®. Two of the four major U.S. regions saw a slight dip in sales, while the West saw growth and the Midwest essentially bore no changes last month.

Total existing-home sales (transactions including single-family homes, townhomes, condominiums and co-ops) fell 0.4% from March to a seasonally adjusted annual rate of 5.19 million in April. Total sales are down 4.4% from a year ago (5.43 million in April 2018).


National Association of Realtors April 2019 DataNAR's chief economist, Lawrence Yun, said he is not overly concerned about the 0.4% dip in sales and expects moderate growth very soon. “First, we are seeing historically low mortgage rates combined with a pent-up demand to buy, so buyers will look to take advantage of these conditions,” he said. “Also, job creation is improving, causing wage growth to align with home price growth, which helps affordability and will help spur more home sales.”

 

The median existing-home price for all housing types in April was $267,300, up 3.6% from April 2018 ($257,900). April’s price increase marks the 86th straight month of year-over-year gains.

Total housing inventory at the end of April increased to 1.83 million, up from 1.67 million existing homes available for sale in March and a 1.7% increase from 1.80 million a year ago. Unsold inventory is at a 4.2-month supply at the current sales pace, up from 3.8 months in March and up from 4.0 months in April 2018.

Properties remained on the market for an average of 24 days in April, down from 36 days in March and down from 26 days a year ago. Fifty-three percent of homes sold in April 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 decreased to 4.14% in April from 4.27% in March. The average commitment rate across all of 2018 was 4.54%.

First-time buyers were responsible for 32% of sales in April, down from the 33% reported last month and one year ago.

The Best Homes Sell Fast

Smart sellers understand that a proactive selling strategy can go a long way in getting their home sold quickly, and for top dollar. Here are three tips for today’s sellers:

  1. Make your home shine. Buyers like to envision a home they can move right into. Clean carpets, fresh paint, and a nicely landscaped yard can go a long way to make perspective buyers feel at home.
     
  2. Anticipate the selling season. Many sellers wait for the market to pick up before they place their home for sale, but smart sellers anticipate these seasonal adjustments and list their homes early in the sales cycle. Give yourself the best opportunity by placing your home on the market before everyone else does!
     
  3. Price your home right. Markets change, so don't be influenced by last year's selling activity and home prices. We will evaluate your home based on the most recent sales data and price it to sell for the most money in the shortest amount of time.

Whether you're looking to sell today or are thinking of selling tomorrow, please feel free to call and ask for an analysis of our recent market activity. We would be more than happy answer any questions you might have.

The Best Ice Cream in Austin

Now that summer is heating up, it's time to find the best places to cool down. Austin is full of great frozen flavors and treats to help you keep down the heat. Here's some of the best places in Austin to find your favorite scoop of coolness.

Amy's Ice Cream

You'll never run out of new flavors to try at Amy's. With over 350 rotating flavors, every visit will be a new treat.

Lick Honest Ice Creams

Have you ever had a roasted beets, goats cheese, or thyme ice cream cone? Now is your chance, made with peak-season ingredients sourced responsibly from local Austin farmer and artisans. And best of all, you can try samples before you choose your unique flavor.

Sweet Ritual

Everyone should be able to have a yummy scoop of ice cream, and that's why Sweet Ritual makes delicious dairy-free ice cream with options for a wide variety of dietary needs. Now you really have no excuse to treat yourself!

Dolce Neve

If you prefer the velvety smooth feel of gelato, then stop by Dolce Neve for the best gelato in Austin. Inspired by their Italian traditions, the owners an ever changing array of flavors, made from fresh local ingredients.

Manolis Ice Cream

Whether it's frozen treats or delicious baked goods, Manolis will satisfy your sweet tooth. Their pops and ice creams are made with fresh ingredients, and baked goods baked from scratch.

Check back on our blog twice a week for more real estate news, ideas, and local events in Austin and Lake Travis. 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‚Äč to talk to an experienced agent today.