🤠🏡 Selling Austin #27

Welcome everyone! Happy Friday!

Let’s work together! Email me here ✅ 

Pay attention to Austin’s luxury market 🔥 and an East Austin steal 👀 

WHAT'S INSIDE

• 👀 DEAL OF THE WEEK

• 🔢 THE DATA

• 🤠 WHAT’S HAPPENING IN TOWN

• ⁉️ WHAT THIS MEANS FOR YOU

• 🤤 HOUSE WORTH DROOLING OVER

👀 DEAL OF THE WEEK

Let’s talk: East Austin

East Austin is one of the fastest growing divisions of the Austin metro.

• Almost half of all commercial building permits in Austin are for the East Side

• Even farther east - we see an unbelievable amount of in-process and planned development. A peek:

  • 7M sqft of master planned commercial + residential

  • 1.5M sqft of multifamily + hotel + shopping

  • 7,500+ homes in a new master plan community

Okay, that’s a lot.

Yes. The point here is: as development increases even farther east (Manor/Bastrop) - property values in East Austin will rise because of its proximity to downtown and new eastern development.

Let’s get to the deal:

The average price per square foot (ppsqft) sold in East Austin in the past year: $532
This home is listed at: $393

Listed for: $799,000
Kirtana’s suggestion: $750,000

🔢 THE DATA

Austin’s luxury market is still heating up.

Wait. I thought everything was in a slump?

Not exactly -  we talked about a $2.2M home getting 54% return in 1 year and now we have more data:

• the only category that saw a rise in home sales last month were $1M+

• at the end of Q1 - almost half of high end homes were bought with cash

Wow. Okay, what does this mean for me?

Certain neighborhoods and price points remain resilient to the broader market conditions. As we continue to pass regulation to increase density, the rarity + value of land continues to increase. 📈

Beautiful homes will always be desirable, when you find a gem - expect competition.

🤠 WHAT’S HAPPENING IN TOWN

A few weeks ago we talked about X HQ moving to Austin.

We now know there’s some movement to … Bastrop?

Yep - the “safety support center” is moving to Musk’s Hyperloop Plaza in Bastrop. It also houses offices for the Boring Company and SpaceX.

No more Austin HQ?

This still seems to be in the works - Bastrop will employ about 100 workers to be a “trust and safety center of excellence.”

Feels like they might need more than 100 employees. Just my timeline? Whoops.

X’s move has made commercial owners cautiously optimistic and signals continued faith in the Austin market.

Let’s see how this plays out - will keep y’all updated. 👀

⁉️ WHAT THIS MEANS FOR YOU

If you’re a buyer/seller/investor/renter or just interested in real estate - this weekly newsletter will help guide your decision making and help you better understand the market.

🤤 HOUSE WORTH DROOLING OVER

You have to see this to believe it. Nothing else like this - nestled in Tarrytown. It says off-market but i’ll let you in on a secret, it’s yours for: $18,500,000

Thank you for being here! Reply to this email if you have any questions or just to say hello! 👋 

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