Experts Forecast a Turnaround in the Housing Market in 2023The housing market has gone through a lot of change recently, and much of that was a result of how quickly mortgage rates rose
EYES ON AGAVE + EASTSIDE AUSTIN 90 DAY QUICK VIEW STATS
Dated: August 15 2022
Views: 164
Take a drive east down MLK, cross 183/Ed Bluestein Blvd to where MLK becomes 969. A little over 1 mile past 183/Ed Bluestein, take a left onto Sendero Hills Parkway and you have arrived at Agave Phase I.
The neighborhood rises like an oasis on the hills. The statuesque palms (those that remain post the 2021 freezemageddon) and the Hill Country native plants stand in front of colorful, contemporary houses. The streets meander through builds featuring stucco, wood, metal, and glass. Each house has its own unique personality. Many have views facing west where the lights from downtown at night beckon in the distance.
As an Agave Eastside dweller, from my back upstairs patio, I have a delightful view of the landmark symbol of Austin and of UT University - the UT Tower.
We are what you might say, just far enough from the madding crowd to find quiet refuge from the hustle, and often overwhelmed streets of Austin proper.
But what about shopping, services, and restaurant amenities, you might ask? Yes, Agave and Eastside might be light on walkable or 5 minute away popular options. Yet, the compact and diverse shopping of Mueller is 10 minutes away, the Domain is less than 20 from 183 to MoPac, Downtown Austin action is 15 minutes, and all the wonderful Eastside Cesar Chavez, 5th, and 7th dining experiences are right at your fingertips -- and a $10.00 ride-share ride. For those who travel in life and work, Bergstrom Airport is 10 minutes SE with no traffic to contend with... one can completely avoid I-35! You can go North to Dallas and South to San Antonio with easy access even though all roads lead to I-35 eventually. Just don't forget SH 130 to San Antonio. Easy, breezy drive and 85 miles per hour for a long stretch.
After two years of construction hibernation, Agave is back into the activity of building new homes. Agave Phase II, a more uniform community of white, grey, and beige with a splash of color contemporary homes has exploded over 35 new dwellings and on my street (Agave Phase I) there are 4 new houses currently under construction.
Alternately close by neighborhoods of University Hills and Windsor Park are experiencing restoration. Many of the homes are truly experiencing an urban renewal fitting nicely into the neighborhood of 80's properties with features of cedar, mid-century modern door and window features, and a touch of those Austin native plants making the drive-up appeal inviting and uplifting the community.
As a realtor and market educator, Eastside is not untouched by the rising rents and housing demands. Having completed a Q2 market report of sold homes for the Eastside (April-June), activity has been robust - 249 homes sold in the East Austin area. Highlighting the lowest sold price was $405K at 116% of list price on Edgedale Drive and the highest sold price was $1.845M at 95% of list price on Camacho Street. Two noted of the 253 was an Agave Phase II home on Tosana selling for $835K at 101% of the list price and an older home in Agave on Pinon Vista for $425K at 99% of the list price. Overall average of the 249 Eastside homes reported sold in the past 90 days was $721K at 102% of list price.
Seller- Eastside is holding its own compared to sales in Central, West, North, and South Austin. Are you in a position to take advantage of the increased equity in your home? Remember, life moves the market. Check the seller link for a quick valuation of your property.
Buyer- Think Eastside living. With the overall Austin average of $670K for a home, in the $500K - $850K range there is an opportunity here for you. With rents rising, understanding that owning property is an inflation fighter, and the fact you should be building your OWN equity. Buying is a smart move forward.
I am Tamsen Reed, Realtor in Central Texas at NextHome | Modern, committed to bringing buyers and sellers together & moving lives forward.
Tamsen Reed
Several things I am blessed with in my career- Genuinely Love People. Negotiating Savvy. Execution With Aspiration to Flawless. Gratefulness. Cali-born and I admit I may have left a part of my heart i....
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