May 22

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/

May 15

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/

May 08

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/

May 01

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/

Apr 22

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/

Apr 13

Even Busy Parents Can Become Property Staging Experts with These Cleaning Tips

Blog Post Courtesy of Kristin Louis. Email klouis@parentingwithkris.com for more practical tips or check out her website – Parenting with Kris

Prepping a home for sale involves a lot of strategy and planning. For busy parents, it can be challenging to keep a property spotless and ready to show. However, there are shortcuts to maintaining a clutter-free and perfectly staged home—even with children underfoot. Here are the tips you need to become an expert.

Think About Splurging on Professional Help

Outsourcing is an excellent way to maintain a ready-to-show property. For busy families, it may even be a necessity—especially if messes tend to follow your kids everywhere they go. While your house is on the market, budget for weekly or bi-weekly cleaning to help you stay on top of clutter and dust. In the Austin area, interior cleaning costs between $117 and $218.

Have a Method and Stick with It

Whether you hire a service or not, you’ll still need to manage clutter and your family’s belongings before showings. If the deep cleaning is already complete, a quick cleanup process may be the solution to removing trip hazards and personal items from your living space.

You can schedule cleanup time daily in five-to-ten-minute increments that the whole family can participate in. If everyone helps, a few fast-paced pickups each day always ensures you’re home is show-ready. Even young children can help declutter or clean, as long as your cleaning products are non-toxic.

Cleaning your home in less time is also simpler if you have a set process. For example, Popular Mechanics suggests working from left to right when cleaning each room. An orderly process can feel less frantic, too.

Address the Elephant in the Room: Smells

When you’re living in a home while it’s on the market, life must go on. That can mean musty bathrooms, odors left over from cooking, and even trash cans that emit undesirable smells. While Good Housekeeping suggests initial steps like cleaning out your garbage disposal and shampooing carpets and rugs (expect to pay $125 – $250 for a professional cleaning), other scent-related tasks are simpler.

Once you have the carpets and drains clean, maintain a fresh home with lightly scented candles, a simmering of herbs and fruit on the stove, and a few open windows. Remember not to overwhelm prospective buyers’ noses—think of subtle scents like vanilla, citrus, pine, and other natural elements. 

Hide What You Can’t Get Rid Of

Staging your children’s rooms—and ensuring they’re clutter-free—is one of the most difficult parts of preparing for a showing. Especially with younger children, scaling down their possessions can be a struggle. If you’re not able to pre-pack before selling your home, think about hiding the things you can’t adequately stage.

For example, you might grab storage bins to toss toys in before prospective buyers arrive. Stowing boxes or bags of toys in a closet or even your vehicle trunk can go a long way toward creating a cleaner living space. After all, more belongings make your home feel personal—the complete opposite of what you want to showcase to buyers.

Of course, getting rid of excess toys entirely might be better in the long run. Studies have shown that children play better with fewer toys, notes Motherly—and scaling down can go hand in hand with packing for a move.

Spend Less Time at Home (Or in Specific Rooms)

While you may not have a new home to move into yet, spending less time in the one you’re selling can help keep it cleaner. As a busy family, you’re likely out of the house often anyway. But planning some extra outings—even if it’s to the local park or play space—can help keep clutter to a minimum. Plus, you’ll need ideas for keeping your family occupied during short-notice showings. 

Getting ready to sell your home means extra work, but you can also hasten the sale by keeping the property in sparkling condition. Fortunately, with these tips, you’ll become an expert in quick cleaning for last-minute showings. And soon, you can apply the same clutter-reducing tips to your new home, too.

Photo via Pixabay

Permanent link to this article: https://atxre.com/even-busy-parents-can-become-property-staging-experts-with-these-cleaning-tips/

Apr 03

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/

Feb 21

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/

Feb 07

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/

Jan 03

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/

Dec 05

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/

Oct 25

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/

Oct 18

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/

Oct 04

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/

Sep 27

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/

Sep 20

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/

Sep 06

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/

Aug 30

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.

Permanent link to this article: https://atxre.com/july-austin-home-sales-break-record/

Aug 16

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.

Permanent link to this article: https://atxre.com/texas-condominium-and-townhome-sales-drop-from-2018-2019/

Aug 02

Q2 2019 Austin Office Market

Tech Companies Fuel Growth

Austin skyline from Ladybird Lake
  • 528,811 square feet (sf) of positive net absorption
  • Most absorption came from Class B buildings with 430,300 square feet of positive net absorption
  • Q3 2019 is forecasted for Offices at Saltillo to deliver. Totals 150,000 sf and is 100% leased to Google.
  • Biggest new construction delivery in Q2 was SXSW Center in CBD at 140,000 sf and is 94% leased by large tenants including WeWork and SXSW.
  • Average rental rate including expenses stands at $35.74/sf up from $35.55/sf in Q1 2019 and $34.37 in Q2 2018.
  • Vacancy is down to 9.5% from 10.3 in Q1.
  • Class A CBD rental rates are at $52.78/sf and suburban Class A space is at $37.97/sf.
  • 5.29 million sf are currently under construction.

Colliers Q2 Austin Office Report

Permanent link to this article: https://atxre.com/q2-2019-austin-office-market/

Jul 25

Austin Board Realtors June Market Report

Austin MSA outpaces City of Austin Single Family Sales

During the first half of 2019 sales experienced strong growth in the Austin MSA but declined in the City of Austin. ABOR President Kevin Scanlan explained that the limited housing inventory (less than 2 months supply) in June and the increase in home prices combined to reduce sales in the City of Austin. This limited inventory and increase in prices has pushed more and more buyers to the suburbs.

Austin / Round Rock MSA in first half of 2019
Single family home sales increased 4.3% year over year
Median Home price increased 1% to $315,000
New listings increased by 1%
Active listings increased 4.8%
Pending sales increased by 7.9%
Sales volume increased 6% year over year

Austin / Round Rock MSA in June of 2019
Single family home sales increased .5% year over year
Median home prices rose 3%
Housing inventory decreased by .2 months to 2.7 months, well below the 6 month balanced housing market time frame

City of Austin first half of 2019
Sales decreased 1.6j% year over year
Median price increased by 3.2% to $387,100
New listings decreased by 3.4%
Active lsitings decreased 5.7%
Pending sales increased by .2%

City of Austin June of 2019
Sales decreased 2.3%
Median price jumped 10.9% to $420,000
Inventory decreased .2 months to 1.9 months

Permanent link to this article: https://atxre.com/austin-board-realtors-june-market-report/

Jul 18

For Sale Shops at 279, Leander, TX

Property Area Map

Income Producing Office and Warehouse Property Available

FOR SALE

In the path of rapid growth in Leander, Texas. 4170 County Road 279, Leander, TX 78641

Asking Price: $2,500,000

Office: 7,000 square feet

Warehouse: 14,280 square feet

Acres: 10.03

Projected NOI: $200,000

GREAT USER / INVESTOR OPPORTUNITY

  • Building 100.  3,000 SF Office, 1,440 SF Warehouse
  • Building 200.  1,440 SF Office
  • Building 300.  1,600 SF Office, 2,400 SF Warehouse
  • Building 301.  1,600 SF Office (Vacant)
  • Building 400.  2,400 SF Office and Warehouse
  • Building 500.  2,400 SF Office and Warehouse
  • Building 600. 5,000 SF Warehouse in shell condition (Vacant)
Office Building 100
Warehouse / Office Building #300
Warehouse Building #200
Office Interior

Email me at mark@matexas.com for more information and any questions.

Permanent link to this article: https://atxre.com/for-sale-shops-at-279-leander-tx/

Jul 09

Over 25% of Austin schools are top Rated

Austin, Texas

Where to rent to be near top rated elementary and middle schools

Austin boasts 28% of the total number of elementary and middle schools as highly rated according to GreatSchools.org. Highly rated is defined as a rating of 8 or higher by the website.

For comparison’s sake on a national level only two other cities boast a higher percentage: 30% in San Francisco and 38% in San Diego. Other interesting data points include:

  • Renting near top performing schools is expensive. Zip code 78703 has 3 top rated schools and rental budget is $2,500
  • In areas without top rated schools average rent is $1,356.
  • The most affordable zip code with highly rated schools is 78753 where the rent averages $1,048, 78728 with average rent at $1,115 and 78731 which has prices at $1,174/month.

from a RentCafe.com Article

Permanent link to this article: https://atxre.com/rent-opportunities-near-top-schools-in-austin-abound/

May 17

Q1 2019 Austin Industrial Market Report

Historically high asking rates

Asking rates for Industrial property rent are at a historical high according to CBRE’s first quarter Austin market report. $10.79 per square foot per year is the new high water mark driven mostly by Class A Flex space. In addition:

  • Absorption totaled 470,000 square feet
  • Vacancy increased to 10.6% (primarily due to the delivery of 1.3 million square feet of new lease space
  • 13 additional projects are under construction with more than 1.1 million square feet in Southeast Austin and Hays County
  • The far Northeast submarket had the largest absorption of lease space at 141,113 square feet

CBRE Austin Industrial, Q1 2019

Permanent link to this article: https://atxre.com/q1-2019-austin-industrial-market-report/

May 10

The Evolution of the Austin Skyline

The Austonian, 2010 Completion

Video of Downtown Austin Evolution

CommercialCafe has put together a very cool video of the evolution of the downtown Austin skyline. Click this link to view => CommercialCafe.com Video of Downtown Austin Evolution

The video focuses chronologically on buildings that rose 200 feet or taller, starting with the State Capitol Building. Interesting tidbits related to three (3) the buildings include:

  • The Chase Bank Tower, completed in 1974 was nicknamed the “Golden Mirror” because of gold colored reflective glass panes that contained some gold alloy.
  • The Moody Bank Tower, built in 1981 provides access to the conference room through the bank’s original vault door which was built in 1875 in Pennsylvania.
  • The Austonian, finished in 2010 was Austin’s talalest building for eight (8) years until surpassed by the “Jenga Tower” in May 2018.

Permanent link to this article: https://atxre.com/the-evolution-of-the-austin-skyline/

May 02

Q1 2019 Austin Office Market Update

Downtown Austin

Office Rent Sets Record High

Office rents in the first quarter of 2019 have hit a record high at $41.83 per square foot per year for Class A according to Cushman & Wakefield and as reported by the Statesman recently. Local brokers are expecting the market to remain strong with continued job growth anticipated for the area. Vacancy is right around 10%, the same as it was Q1 2018.

CBRE measuring the market as an average rental rate also reports a record high of $37.62 per square per year. New construction is at an all time high as well with 5.6 million square feet of office space under construction.

NAI Partners another local brokerage firm is quoted as saying that “large leases dominated in 2018 and all indications point to that trend continuing in 2019.”

OFFICE BOOM: Rents hit record high as Austin-area office market surges

Permanent link to this article: https://atxre.com/q1-2019-austin-office-market-update/

Apr 26

What size apartment can I afford on my income?

Ever wondered how much apartment you can afford if you are making the median income in a large U.S. City?

If you make the median income in Austin, Texas you should be able to afford a 751 square foot apartment and expect to pay about $1,369 according to new data from Yardimatrix.

  • Focusing only on Texas, renting in Plano on a median income gives you the most bang for your buck, with 1,137 square feet, the equivalent of a large 2-bedroom and 2.5-bath apartment. Irving comes in second with a 912-square-foot apartment with 2 bedrooms and 1.5 baths.
  • By comparison, other cities in Texas offer a 1-bedroom apartment that varies in size from renting in Houston (757 square feet), San Antonio (756 square feet), or Dallas (679 square feet).

Rentcafe.com How much apartment can you rent on a Median Income?

Permanent link to this article: https://atxre.com/how-big-an-apartment-can-i-afford-on-my-income/

Apr 22

East Austin Investment Properties For Sale

Coleto St. Property

I recently listed three (3) properties in East Austin that were previously single family rent homes. They are all in need of some TLC but are great investment properties. The activity for these properties has been amazing and I can confirm first hand that the East Austin single family market is hot!

The first (pictured above) is at 1183 Coleto and we are asking $285,000 (update – this property is now under contract). The next property is at 2935 Moss St and we are asking $299,000. The final property is located at 903 Mansell and is currently under contract as well. We are asking $340,000 for the Mansell property.

Email me at mark@matexas.com if you are interested in selling your E. Austin property or if you are interested in purchasing 2935 Moss St.

Permanent link to this article: https://atxre.com/east-austin-investment-properties-for-sale/

Apr 12

2019 Austin Office Development

Austin Skyline
Austin, Texas skyline

Austin #11 in U.S. for new office development in 2019

Austin barely missed the top ten in new office development for 2019 with a #11 projected finish. 3.2 million square feet from 21 different projects makeup the Austin number. Oracle Phase II is the biggest office project expected to deliver this year at 420,000 square feet set for a December delivery. In comparison last year saw 2.7 million square feet in 34 projects delivered in Austin. The 2018 Oracle Waterfront campus was the largest project at 560,000 square feet.

Commercial Cafe 2019 U.S. Office Pipeline

Permanent link to this article: https://atxre.com/2019-austin-office-development/

Mar 29

Austin Commercial Real Estate Vacancy and Rent

Austin Projected , Real Estate Center, Texas A&M

Commercial Real Estate Projected Vacancy and Changes in Rent

The Texas A&M Real Estate Center has started providing more content for Commercial Real Estate markets in Texas that is very helpful to those of us following the Commercial Real Estate Markets.

This graphic for our Austin market shows that we are below the natural vacancy rate for all three Commercial Real Estate (CRE) types and that rents look like they will continue to rise. Retail rent growth however is projected to slow down in comparison to the last couple of years.

It’s helpful to keep in mind the definition of “Natural Vacancy Rate”. The natural vacancy rate is the average percentage of rental properties that are not occupied when there is balance in demand and supply.

Here’s a link to the Real Estate Center’s website if you are interested in more helpful content => https://www.recenter.tamu.edu/

Permanent link to this article: https://atxre.com/austin-commercial-real-estate-project-vacancy-and-rent/

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