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🤠🏡 Selling Austin #63

🤠🏡 Selling Austin #63

Shocking Homebuyer Trends 🤯

Kirtana Reddy
May 02, 2025

Hi y’all, welcome back to Selling Austin - your weekly local real estate recap.

Inside: Shocking Homebuyer Trends 🤯

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(*unbiased opinion)

🔢 THE DATA

👋 Hi, I’m Kirtana!

I’m an ex-dentist turned Realtor - let’s work together! Email me, tweet me or send me a carrier pigeon. 🐦️

Let’s talk about some interesting data that’s been making the rounds this past week -

Distribution of wealth:
Per the Federal Reserve - US household wealth is increasingly held by older families

We see this directly correlated to homebuyers broken down by generation, with the 45+ age group making up 70% of buyers.

Another alarming chart shows how the median age of home buyers trends over time. The median age of homebuyers has peaked to 56 years.

This broad data is valuable in understanding and evaluating local trends and is a useful predictor of market direction.

🤠 WHAT’S HAPPENING AROUND TOWN

Luxury is back this spring in Austin with higher deal volumes and fresh listings.

This week’s largest closing is a $6.75M condo at the Four Seasons Residences downtown (you can see the full listing below + the staggering monthly HOA below).

This high profile deal is part of 10 homes listed over $2M that went under contract. This is double the number of deals from the week prior. Total volume under contract increased by $14M to $33M.

While volume and price has increased - there is a decline in pricing. Average price per square foot has dropped about 8% week over week and average days on the market is up from 76 to 104 days.

There is still a strong buyer demand at this luxury price point and the slightly lower ppsqft seems to be pushing them towards purchase.

⁉️ 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.

Buyer
- We are still in a buyers market

- You will see increased inventory in the coming months

- Do not expect exceptional properties to sit on the market - we are seeing quick movement on prime homes

Seller
- Increased inventory = increased competition

- Avoid common listing pitfalls: inaccurate pricing will lose you both time and money. If you renovate - be specific and intentional. Not every upgrade has the desired ROI.

Renter
- If you’re living in a high rise downtown - NEGOTIATE

- Seeing big complexes offer 6-8 weeks free

🤤 HOUSE WORTH DROOLING OVER

Under contract but at $6.75M, I wanted you to take a look.

Any guesses on the monthly HOA?

It comes in at $4,275/mo 👀 Do you think it’s worth it?

98 San Jacinto Blvd #2401, Austin, TX 78701

4208 square feet
3 bedrooms and 4 bathrooms

www.zillow.com/homedetails/98-San-Jacinto-Blvd-2401-Austin-TX-78701/110539352_zpid/?

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

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