FOR SALE – 2819 N. Bagdad (formerly 4150 CR 279)

Video Tour of 2819 N Bagdad Rd, Leander, TX
2819 N Bagdad Leander, TX
Aerial view of 2819 N Bagdad and its multitude of buildings / improvements.

Owner User Property

Ideal for Contractor / Service Industry / Hobbyist

2 Houses, 3 Garages, a Work Shop, Outdoor Yard Space, Un-built Land Area allows for More Improvements to be built.

  • (Office): 4,775 SF of 2 Houses, plus above Garage Apartment
  • 2 Large Garages / Workshop (Warehouse): 6,676 SF
  • Acreage: 4.07 Acres
  • Asking Price: $1,400,000
  • Access: US Highway 183 North to W San Gabriel Parkway, West to CR 279 and turn right. Property is on left.

Link to Loopnet and additional photos

Permanent link to this article: https://atxre.com/for-sale-2819-n-bagdad-formerly-4150-cr-279/

Office and Retail fundamentals down, Industrial Up in Q3 2020 Austin Market Report

Austin Real Estate Fundamentals
Downtown Austin, Texas

Office and Retail decline while Industrial posts positive demand

The Industrial market continues its surprised demand with distribution space driving the market to its 25th consecutive quarter of positive new demand.

  • Net absorption increased to 696,000 SF
  • Average asking rates increased to $9.88/SF
  • Vacancy dropped to 9.7%
  • 1.34 million SF of new construction continues forward.

Office vacancy continues to increase as negative market fundamentals continue in the office market.

  • Vacancy increased to 13.4%
  • Average office asking rates increased to $39.36/SF quarter over quarter with increases in operating expenses.
  • Development is flat with new construction appearing to have halted.
  • 29 projects with 6 million + SF are still under construction.
  • Last quarter over 200,000 SF came online

Retail continued its slide noting -426,428 SF of net demand

  • Occupancy is down to 94.6% in Q3
  • Average asking rent fell to $20.25/SF
  • Development activity has slowed. Construction activity continues but few new projects appear to be on the horizon.

Information courtesy of CBRE Austin. Links to Reports => Austin Industrial Market Q3 2020, Austin Office Market Q3 2020 , Austin Retail Market Q3 2020

Permanent link to this article: https://atxre.com/office-and-retail-fundamentals-down-industrial-up-in-q3-2020-austin-market-report/

Finding employment in Austin TX – professional advice

A woman at a job interview.

Article courtesy of Betty White, betty@movingofficessandiego.com

Finding employment in Austin, TX, can be overwhelming, but the options are ample. The city has a reputation as one of the best places to live in the US. The job market is strong, and the business environment is progressive and entrepreneurial. Several tech companies have more than 5,000 employees, and new companies are opening in Austin every year.

Hence, if Austin is your new address, focus on finding a home, and explore some expert real estate negotiating tips. We will provide you with professional advice on how to find employment and pursue a career here.

Set a clear job target

Knowing what you want and expect from a job is the basis of every job search. These factors will rule and steer all your decisions throughout the process. Take some time to contemplate on these points and make a definite list of the criteria your ideal job has to meet. Make sure the goals you set are attainable and manageable to avoid disappointment. If you succeed in your intentions, it will be easy for you to move here from any part of the state and build a career that will bring personal and professional satisfaction.

Create a plan for finding employment in Austin TX

A random job search is rarely a good strategy. It is vital to make a detailed plan, as it leads to commitment, diligence, and success in finding a job.

Firstly, you need to define a time frame. How much time do you need to see some progress while looking for employment? Then, explore job listings and list the companies that have attracted your attention and that you would like to work for in Austin. You will need to work on your criteria list and occasionally prioritize and narrow it, as job opportunities here are countless. Finally, once you create a list of potential employers, you will have to work on your resume and cover letter to adapt them to the hiring criteria.

Identify the best job listings

When you decide what you want and create a plan for finding employment in Austin TX, you can start looking for the best job listings. Job banks, networking sites as well as company websites, and niche sites are also helpful. One viable solution that can provide you with favorable and fast results is working with a recruiter. These are all the options that will maximize your odds of finding employment as soon as possible.

Brand yourself properly

The digital era we live in has considerably changed our approach to various tasks. The practices we apply when looking for a job are, thus, no exception. Nowadays, finding employment is impossible without branding yourself properly in the digital medium. Only then will your actual qualities and competence, combined with networking strategies, bring results.

Thus, in the initial phase of your job search, create profiles on LinkedIn or any other networking site. Your professional brand should leave a positive impression on potential employers, recruiters, and even contacts. This guarantees success in convincing potential employers that you are a candidate that the company can benefit from.

Combine offline and online efforts

While it is true that the Internet offers a genuine wealth of information to its users on job vacancies, salaries, companies’ and employers’ reviews, relying solely on the online environment is not a smart move. Although you will be applying for a job online, you should continue working on the best offline strategies. There is always a chance someone you know might help you with your job search. In other words, try to remember whether you know anyone at the companies you are considering that you can network with. When you connect to a company both online and offline, you stand out among other candidates, become a real person, and someone who has just gained an advantage among competitors.

List the companies you would like to work for

Having a list of target companies helps you stay focused on your job search. To stay well informed on relevant matters, sign up for email notifications for new job openings, and act promptly when the time comes. Revise the list occasionally, as your interests and priorities might change.

Improve your resume and create a compelling career story

Sending generic resumes is one of the most common mistakes inexperienced job seekers make. Instead, you should tailor the resume and your career story to contain the information relevant to the hiring criteria. Do your best to explain why your previous experience and the skills you possess make you qualified. Provide the details of what you have done so far, how it is impactful, and, finally, how a company can benefit from hiring you. 

Prepare for the interview

Proper preparation before a job interview is imperative. Firstly, find out as much as you can about the company. Secondly, try to predict the interviewer’s questions and practice answering them confidently. Make a list of questions you would want to ask regarding the company or the post you are applying for. Use your best to show expertise and knowledge to impress the decision-makers. Finally, dress smartly for the occasion.

Final thoughts

Due to the favorable business environment, finding employment in Austin, Texas, is significantly less demanding than in other US cities. Understandably, proper preparation is always necessary if you expect to reach your business goals. The city is not only the right choice for your career but for raising a family as well. With over 25% of top-rated schools, Austin is a frequent choice for many families.

Author: Allison Greenberg is a full-time office manager and a part-time blogger. While working at a medium-sized company, she has learned a lot about the process that potential candidates go through. In her articles, Allison hopes to provide helpful insight into the business world.

Permanent link to this article: https://atxre.com/finding-employment-in-austin-tx-professional-advice/

Austin leads country in new apartment deliveries through first half of 2020

Nationally apartment construction is at 5 year low, down 12% from 2019

Building Elevation
Austin leads country in new apartment completions through first half of year
  • Texas cities are the most active in apartment completion to date in 2020
  • Austin is leading this category nationwide
  • Texas dominates with three more cities – Houston, Dallas, and Farmers Branch
  • The Austin metro is fifth from the top for new construction projected through the end of the year. Austin has added 62,000 residents from 2018 to 2019. Over 50,000 new apartments have been built in the area since 2016.

Data from RentCafe Blog Post, 8/16/20, by Florentina Sarac

Permanent link to this article: https://atxre.com/austin-leads-country-in-new-apartment-deliveries-through-first-half-of-2020/

Q2 2020 Austin Office Market

Austin Office Market
Second Quarter, 2020 Austin Office Market information below courtesy of Colliers International, Austin, TX office.

Austin Sublease Space on the Rise

  • Subleases in the Austin Office Market have skyrocketed with companies including Parsley Energy and GoDaddy listing over 100,000 square feet each.
  • Sublease inventory is up 40% since the first of April, 2020.
  • The number of subleases has more than doubled when comparing year over year.
  • Despite the rise in subleases, large developments like Google and Indeed continue with construction of their new office towers.
  • Q2 of 2020 brought over 276,000 square feet of negative net absorption to the market place, with Class A buildings accounting for 165,602 square feet of the total.
  • 7,000,000 square feet of office space is currently under construction and over 2,000,000 of that is pre-leased.
  • City wide average rental rates increased over the quarter one numbers from $36.36 to $36.41/square foot/year.
  • Class A rental rates in Austin CBD decreased from $53.43/square foot/year to $52.99/square foot/year.
  • Citywide vacancy increased from the first quarter rate of 13.1% to 13.6%.

Click Here for the Austin Office Report courtesy of Collier’s International.

Permanent link to this article: https://atxre.com/q2-2020-austin-office-market/

1617 A, W. 6th St, Austin, TX For Lease

1617 W 6th St ATX
Street view of 1617A West 6th Street
  • Office For Lease
  • 1617 A, W. 6th St, Austin, Texas 78703
  • 1,464 SF
  • $32/SF/Year Rent + NNN
  • Date Available: 9/1/20
  • Lease Term: 3 + years

Great location. Just west of downtown. Close to Vibrant downtown scene.

4 offices, 1 Conference Rm, 1 Restroom, 4 reserved parking spaces + common, 1 Kitchen, 1 Reception, .

Floor Plan 1617 A W 6th

Call Mark Pustka at 512-970-8359, or email at mark@matexas.com

Permanent link to this article: https://atxre.com/1617-a-w-6th-st-austin-tx-for-lease/

Republic Drive, Kyle, Texas, 26 Acres For Sale

Republic Drive, Kyle, TX
Warehouse Zoning, All Utilities, Kyle TX development land

26 Acres For Sale, Kyle, TX.

Can accommodate single user or 16 lot warehouse subdivision

  • 25.98 Acres
  • Warehouse Zoning
  • All Utilities at Site
  • Single user, Campus Opportunity
  • Or 16 lot, preliminary platted, warehouse subdivision lots
  • Asking Price: $4,245,000 or $3.75/SF
  • Access: North bound Exit #215 off I-35 to Beebee Rd to Republic Dr. South bound Exit #215 off I-35 to Kyle Pkwy, U-turn to North to Beebee Rd to Republic Dr.
  • Location: Located on E side of I-35, between Buda and Kyle. 2/10’s of mile from I35 to Republic Drive.
  • Excellent access to I-35.
  • Strategically located to serve both Austin and San Antonio markets
  • Utilities: Pedernales Electric, Centerpoint Energy for Natural Gas, City of Kyle Wastewater, Monarch Utilities Water.
  • Additional Info Available: Geotechnical and Topographical
Republic Drive Survey
Survey of 25.98 Acres at Republic Drive, Kyle Business Park, Kyle, TX
Kyle Business Park Preliminary Plat
Preliminary Plat of 16 lot, Warehouse subdivision at Republic Drive, Kyle Business Park, Kyle, TX
Kyle Warehouse Development Site
Aerial photo of 26 acres and proximity to I-35, Kyle, TX
Ground View Kyle Business Park
Ground view of 26 acre lot looking northwest from end of existing Republic Drive roadway.
Ground View Kyle Business Park
Ground view of 26 acre lot looking north from end of existing Republic Drive roadway.
Ground View Kyle Business Park
Ground view of 26 acre lot looking northeast from end of existing Republic Drive roadway.

Call me at 512-970-8359 with questions or interest. Or email me at mark@matexas.com

Permanent link to this article: https://atxre.com/republic-drive-kyle-texas-26-acres-for-sale/

Austin MSA June Home Sales Rebound

Austin Housing 2020
Home Sales Rebound in June

Year over year home statistics in the Austin MSA improved in June.

  • Median Sales Price up to $340,000, up 4%.
  • Closed sales at 3,969 are an increase of 9%, which helped hold sales to only a 5.2 % decline during the first half of the year.
  • Homes were on the market for 4 fewer days, down to 44 days.
  • New listings are down 5% to 4,170.
  • Active listings are down 32% to 5,300.
  • Pending sales are up 33% to 4,737.
  • Total Sales Dollar Volume is at $1.67 billion which is up 13%.
  • Months of housing inventory is down .9 months to 1.8 months.

Rising prices, and low inventory are causing the local market to be very competitive and tight.

“There are plenty of unknowns in the months ahead, but June home sales across the MSA being up 9.3% year over year was tremendous when considering the strength of 2019”, said James Gaines, chief economist at the Texas A&M Real Estate Center.

Information courtesy of Texas A&M Real Estate Center, click here for Link.

Permanent link to this article: https://atxre.com/austin-msa-june-home-sales-rebound/

Austin Metropolitan Statistical Area (MSA) Housing Update

CLICK ON IMAGE TO GO TO INDEPENDENCE TITLE WEBSITE AND SEE ALL AUSTIN MSA GRAPHS IN PDF FORMAT.

Austin MSA Single Family Residential graphics courtesy Independence Title Company, data by Texas A&M Real Estate Center.

Permanent link to this article: https://atxre.com/austin-metropolitan-statistical-area-msa-housing-update/

Real Estate Center at Texas A&M projects impact of COVID on 2020 Commercial Real Estate

Information above courtesy of Texas Quarterly Commercial Report Texas A&M Real Estate Center – Click Here for Link to Entire Report

Permanent link to this article: https://atxre.com/real-estate-center-at-texas-am-projects-impact-of-covid-on-2020-commercial-real-estate/

Great Contractor or Service Provider Property, For Sale at 2819 N. Bagdad, Leander, TX

North Bagdad Rd also known as County Road 279 just passed new Glenn High School

Great property to run business from

  • Drone Video of Site
  • Asking Price: $1,400,000
  • Address: 2819 North Bagdad Rd also known as 4150 CR 279
  • 4.07 Acres
  • +/- 11,451 SF of Building Improvements
  • 2 Houses for use as Office and 1 Bedroom Apt (4,775 SF)
  • Swimming Pool with beautiful grounds / would work for Wedding Venue.
  • 2 large garages, a workshop building, 2 storage containers (6,676 SF)
  • Outside Storage Yard
Aerial Photo of Property

Executive Summary

DESCRIPTION: Currently zoned Single Family Suburban at front of lot and Single Family Rural at back of lot. On north edge of City of Leander. Residences with garages, workshops, storage yards, room to expand. 2 Houses, 1 Apartment, 2 large Garages, 1 carport, 1 Workshop and outside storage Yard. Extra deep well, heated pool, new A/C in apartment and bedroom side of house. Also hookups on site for a mobile home / trailer. Would make excellent office / industrial / yard work space with zoning change. Great Owner/User location.

DIRECTIONS: Take US Highway 183 North, west on San Gabriel Parkway, Right on Bagdad Rd N / CR 279, and property is on your left, 1.27 miles.

Street View. Main house to left, warehouse storage buildings to right. Controlled gate access.
Second Home on Site
Shop Building
Pool
Upstairs Apartment
Warehouse / Storage
Warehouse / Storage
Main House.

Contact Mark Pustka at 512-970-8359 or mark@matexas.com for more information or a tour.

Permanent link to this article: https://atxre.com/for-sale-homes-and-warehouses-on-4-acres-leander-tx/

South Lamar Office Space For Lease, Two (2) Suites

3901 South Lamar
Two (2) Office Spaces for Lease

First Floor, Suite 150

  • Size: 1,262 SF
  • Term: 3-5 Yrs
  • Asking Rent: $26.00 /SF/YR
  • NNN: $13/SF/YR
  • Use: Office
  • Full Build-Out
  • Available Now
  • See Floor Plan Below
  • 11’6″ Finished Ceilings
  • Space is in Excellent Condition
  • Fully Carpeted
  • After Hours HVAC Available
3901 S Lamar Suite

Third Floor, Suite 310

  • Size: 2,059 SF
  • Term: 3-5 Yrs
  • Rental Rate: $26.00 /SF/YR
  • NNN: $13.00/SF/YR
  • Use: Office
  • Full Build-Out
  • July 1 2020 Available
  • See Floor Plan Below
  • 9′ Finished Ceilings
  • Fully Carpeted
  • After Hours HVAC Available
  • One conference room.
3901 S Lamar Suite

Move in tomorrow to Suite 150. July 1st move in, for Suite 310. Rare availability, don’t wait. Building stays full. Great opportunity for office near downtown and in midst of S Lamar scene. 3 miles south of downtown Austin. Four story glass curtain wall office building on South Lamar. Pristinely maintained and serviced.

  • Bus Line
  • Conferencing Facility
  • Property Manager on Site
  • Signage
  • Energy Star Labeled

Highlights

  • On Site Property Management
  • Vibrant South Lamar location near new restaurants, apartments, condominiums and night life
  • On Site US Postal, UPS, Fed Ex and Lonestar Overnight

Permanent link to this article: https://atxre.com/s-lamar-office-space-for-lease-two-2-suites/

April Home Sales in Austin impacted by COVID-19

Austin Home Sales
Austin Home Sales decline in April
  • Compared to April 2019, residential sales across the five county Metropolitan Statistical Area declined by 22%.
  • Sales dollar volume fell 18%.
  • Active listings declined by 7%.
  • Housing inventory stands at 2.1 months, .2 months less than last year.
  • Median sales price increased 3.2% to $325,000.
  • Homes were on the market 9 fewer days or on average 43 days total.
  • Active listings dropped 7%.
  • New listings declined 21%.
  • Pending sales declined 25%.

Austin Board of Realtors, May 19, 2020

Permanent link to this article: https://atxre.com/april-home-sales-in-austin-impacted-by-covid-19/

Austin Apartment Rent Falls with COVID 19 Outbreak

Rents dropped from March to April 1.2% which is in contrast to a year ago when rents jumped 5.7%.

Occupancy was up .3% from March to April.

Five apartment complexes in April had negative absorption – less units occupied than the previous month.

An additional 4,500 apartments are expected to be delivered by years end.

Source: Real Estate Center Texas A&M

Permanent link to this article: https://atxre.com/austin-apartment-rent-falls-with-covid-19-outbreak/

Q1 Austin Industrial Leasing down, Development Up

  • Asking rates fell $.24/SF to $9.56/SF
  • Vacancy increased to 10.8%
  • Absorption fell to 222,416 SF
  • 423,919 SF came online
  • Total average construction rose to 1.2 million SF

Data courtesy of CBRE.

Permanent link to this article: https://atxre.com/q1-austin-industrial-leasing-down-development-up/

Q1 2020 Austin Office Market dips

CBRE Research shows that the Austin Office Market has softened for the first time in awhile.

Fundamentals have slowed when it comes to the first Quarter of 2020 Austin Office Market.

  1. Absorption increased to 600,000 + square feet.
  2. Triple net asking rates and OPEX costs caused the average asking rates to decline from $38.89/SF to $36.64 Quarter 1 2020 over Quarter 1 2019.
  3. Vacancy increased to 10.9%.
  4. Development remains strong with almost 7 million square feet under construction.

Information courtesy of CBRE. Click here for link.

Permanent link to this article: https://atxre.com/q1-2020-austin-office-market-dips/

Austin Housing Market Steady in March


Market remained steady amid early corona virus realities.

Despite shelter in place orders from local government beginning on March 25th the local housing market remained strong.

  • For the month residential sales were up 2.2 % year over year to 3,042 sales.
  • The median price of homes increased from by 11.7% to $335,200.
  • Monthly inventory dropped .7 months to 1.6 months (6-6.5 months of inventory is considered a balanced market).
  • New listings declined 12.7% and active listings dropped 26.6%.
  • Pending sales fell by 19.2%.

ABOR president Romeo Manzanilla is quoted as saying “the true impact of COVID-19 won’t be seen until April”.

Austin housing market remains steadfast in March |News Talk Texas | April 16, 2020 |

Permanent link to this article: https://atxre.com/austin-housing-market-steady-in-march/

Austin Construction Crews back to work

Austin Construction back to Work

Governor Abbott’s Tuesday Executive Order clears the way for contractors in Austin to get back on the job. Mayor Adler agreed late Thursday after initially banning construction in Austin on March 24th.

The previous ban on construction by Austin was in contrast to other metro areas in the state where construction work was deemed essential. The mayor’s back to work guidelines include “numerous employer requirements for all construction work. Those include social distancing guidelines and healthy work practice requirements, including pre-screening the “general health” of workers, limiting crew sizes and rotating shifts for sites with more than 10 workers on the job a time.”

Corona Virus in Austin: Construction crews back at job sites as work ban lifted

Permanent link to this article: https://atxre.com/austin-construction-crews-back-to-work/

Industrial Development continues at record pace

Austin Industrial Development

A new development in Hays County has pushed the annual total of new construction in the Industrial sector to almost 1.9 million sf – an all time high.

  • For past 3 years 5.4 million sf of new product has been delivered
  • Over 1 million sf is currently under construction with 37% pre-leased.
  • Citywide average asking rates continue to decline from their Q1 2019 highs to $9.80/sf in Q4 2019.
  • Vacancy remains steady at 10.5%.
  • Q4 2019 deliveries totaled 262,174 sf with 2019 total net absorption at 1,307,789 sf.

Austin Industrial MarketView Q4 2019 CBRE

Permanent link to this article: https://atxre.com/industrial-development-continues-at-record-pace/

Austin Office Market Finishes 2019 Strong

Austin Skyline

ECONOMY – Austin job growth has continued to outpace national averages and our unemployment rate is one of the lowest in the country at 2.5% Major tech expansion included companies such as Facebook, Google, Amazon and Indeed. The growth trend is likely to continue as more companies look to expand their operations in Austin.

CONSTRUCTION – Over 2.1 million square feet of new office space was delivered during 2019. Another 6.1 million square feet is still under construction. Office development is at an all time high. Class A downtown lease space remains in high demand with vacancies below 6 % and pre-leasing of new construction at 70%+.

RENTAL RATES – The overall asking rate increased to $39.21 / square foot up $2.95 per square foot compared to the last quarter of 2018. Class A space is at $44.14/ square foot a year over year increase of 7.4%. As demand continues and more companies move to Austin, asking rates are forecasted to maintain the rental rate increases.

Marketbeat Austin Office Q4 2019, Cushman & Wakefield

Permanent link to this article: https://atxre.com/austin-office-market-finishes-2019-strong/

Austin area home sales breaking records

In December the Austin Board of Realtors released their monthly report and home prices and sales have hit another historic high. Based upon November sales numbers it appears that 2019 sales will surpass the total number of homes sold last year. Last month sales rose 4.5% to 670 sales totaling 30,561 sales. This is just 300 less than 2018’s total sales volume. By looking at trends it appears that Austin will surpass 300 sales in December and thus exceed 2018 numbers.

Austin’s November median home price for a single family home rose 10.6% year over year to $405,000 an all time high for November. The Austin/Round Rock metro rose by a modest 1.7% increase to $305,000 while Travis County rose .6% to $355,000.

Land in Austin continues to be severely constrained and so home builders are moving outward in search of lower land costs and development opportunities according to Vaike O’Grady, Austin regional director for Metrostudy.

In November Williamson County home sales increased 13.2% while Hays County increased 17.8%.

“Limited and pricey housing within the urban core is driving residents to relocate to the suburbs”, according to Kevin P Scanlan, Austin Board of Realtor’s 2019 president.

Permanent link to this article: https://atxre.com/austin-area-home-sales-breaking-records/

Austin named CompTIA’s top 2019 Tech Town

CompTIA recently completed their 2019 Annual Tech Town Index. In this index of metropolitan areas the following categories were examined to come up with their ranking.

  • Where companies are hiring
  • Estimated projected job growth
  • Median annual salary
  • Average cost of living

Austin is the 2019 leader with Dallas, Texas the next Texas city at number 7 with Raleigh North Carolina and San Jose California at numbers 2 and 3 respectively.

CompTIA link to Article

Permanent link to this article: https://atxre.com/austin-named-comptias-top-2019-tech-town/

Third Quarter 2019 Austin Office Market

RENT DOWN, VACANCY UP IN THIRD QUARTER OF 2019

Rent decreased and vacancy increased in the third quarter of 2019 Austin office market with a total of 1,250,402 square feet of negative net absorption registering in the Class A market.  Class B had 180,000 square feet of positive net absorption while Class C properties had 46,670 square feet of negative net absorption.  This resulted in citywide vacancy of 11.5% up from 9.3% in Q2 of 2019.  Class A CBD vacancy was up from 5.7 to 5.8%.

There is currently 5,000,000 + square feet of office space under construction with about 45% pre leased.  The fourth quarter of 2019 is forecasted to deliver over one million square feet of office space with 800,000+ pre leased.

The average rental rate decreased over the quarter compared to Q2 of 2019 from $35.72/sf to $35.38/sf.  Rent for Class A lease space dropped by 6.2% to $49.47/sf from $52.78 in Q2 of 2019.    

Collier’s International | Q3 2019 | Austin Office Market Report

Permanent link to this article: https://atxre.com/third-quarter-2019-austin-office-market/

Austin Home Sales Setting Records

Home sales and median sales prices hit an all time high for the month of September according to a recent Austin Board of Realtors report.  In the Austin metro area, sales increased by 13.4% with 2,654 homes sold resulting in the busiest September ever.  The median sales price for September was $320,000, a 7% year over year increase and the highest September median sales price ever.  Pending sales were up as well which suggests October will be another strong month.

Looking at the Austin market alone, 798 houses were sold which is a 15% increase over September 2018.  The median sales price totaled $406,000, an all time high for September.  Housing inventory decreased by ½ month year over year to leave it at 18 months of inventory currently.  Home prices continue to rise in the area because of these strong sales and the limited amount of inventory.

ABOR Blog September Housing Report

Permanent link to this article: https://atxre.com/austin-home-sales-setting-records/

Austin Retail Market Update

CBRE Research Q3 2019

Retail development is booming in Austin metro area with 1.28 million square feet of new space under construction in the area. 890,000 of the total is located outside the city in the suburbs. Occupancy remains steady at 96% although the average asking rate has dropped to $20.50/square foot.

Click here for more detail => Growth in Store for Austin Retail Market

Permanent link to this article: https://atxre.com/austin-retail-market-update/

UNDER CONTRACT – For Sale 3200 Steck Ave, Suite 200

Building Entry

Property Type: Office Condominium

Address: 3200 Steck Avenue, Suite 200, Austin, TX 78757

Size: 3,882 square feet

Asking Price: $931,680

No. Units: 1

Sale Type: Owner/User

Floors: 3

Typical Floor Size: 11,583 square feet

Parking Ratio: 4 / 1,000 square feet

Location: One block east of Mopac at NE corner of Steck Avenue and Shoal Creek.

Description: Traditional office condominium design with atrium elevator lobby, abundant natural light and updated modern restrooms serving each floor. Suite 200 includes 9 offices, an open work area, break room, IT closet, and conference room. 4 parking spaces in first floor parking garage and 11 in parking lot.

Reception Area
Break Room
Typical Office
Conference Room

Permanent link to this article: https://atxre.com/for-sale-3200-steck-ave-suite-200/

Austin forecasted as Best City for 2020 Real Estate Investment

Austin #1 in U.S. for Real Estate Investment

PricewaterhouseCoopers and Urban Land Institute have released their annual real estate investment outlook and for 2020 Austin is projected as the tops in the U.S. This is an improvement over 2019’s #6 finish. In 2018 Austin ranked #2 and was number 1 in 2017.

Details of the reasons for the ranking include:

  • Apple Computers plan for a $1 billion campus
  • The planned re-development of the Austin American Statesman site on South Congress
  • A major expansion of the Airport
  • Austin’s population growth including annual growth of about 45,000 people a year or 145 persons a day
  • The number of businesses with one million dollar + in revenue is growing faster than any other major metro in the U.S.

The biggest challenges according to the report are traffic and the rising cost of housing.

https://www.bizjournals.com/austin/news/2019/09/19/austin-is-again-no-1-us-market-for-real-estate.html

Permanent link to this article: https://atxre.com/austin-forecasted-as-best-city-for-2020-real-estate-investment/

2019 Austin Apartment Construction

Austin metro is 5th among the top 20 US metros for apartment construction in 2019

Over 10,000 apartments are estimated to be completed by the end of year in the Austin metro area. A 2.7% rise in population and continued job growth fueled this rise.

  • Austin metro is 5th nationally for planned apartment construction.
  • Last year 10,701 units were completed in the Austin metro area.
  • The City of Austin leads the metro area with 6,644 units planned with Georgetown next at 976 units.
  • Austin’s projection exceeds that of large metro areas such as Los Angeles, Phoenix, Washington D.C. and Houston.

Rent Cafe, Rental Apartment Construction 2019

Permanent link to this article: https://atxre.com/2019-austin-apartment-construction/

July Austin Home Sales Break Record

3,439 homes sold in July 2019

Austin area home sales set a record for number of sales in July with an 11.7% year over year increase to 3,439 homes sold according to the Austin Board of Realtors. Sales in Austin remain flat due to limited inventory.

  • The median price for homes rose by 3.2% to $325,000
  • Sales dollar volume increased 15.4% year over year
  • New lisings in the greater Austin area increased by 4%
  • Monthly housing inventory decreased year over year by .2 months

Click this link to ABOR website for more details.

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Texas Condominium and Townhome Sales drop from 2018-2019

Sales down and inventory up

Condominium and townhome sales fell from 2018-2019 in Texas according to a report released by Texas REALTORS. Condo sales are down 8% and townhome sales are down 3% in the last year.

Tray Bates, chairman of Texas REALTORS notes that the lower price compared to single family homes, the decreased maintenance and the typical closer proximity to work, schools and city life keep these housing types as a popular choice among buyers.

“The statistics from the Texas Condominium Sales Report prove that all types of housing in our Texas real estate market is in demand, especially more affordable options for first time homebuyers,” said Jim Gaines, Ph.D., chief economist with the Real Estate Center at Texas A&M.

Prices increased moderately for condominiums and townhome sales prices went down slightly. The median sales price for condominiums currently sits at $189,000 and townhomes is at $226,000.

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